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CBRE'S NET LEASE PROPERTY GROUP NEWPORT
RETAIL ROUNDUP
February 14, 2021
DICK'S SPORTING GOODS EXPANDS CLEARANCE STORE CONCEPT
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Dick's Sporting Goods continues to show that it is expanding in the midst of a difficult market. The retailer announced the launch of two new store concepts in June — Overtime by Dick's Sporting Goods and Dick's Sporting Goods Warehouse. This marks an expansion of the latter, which first launched with five stores as a "temporary pop-up style shopping experience."

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UBER TO GIVE FREE RIDES TO WALGREENS PHARMACIES FOR VACCINATIONS
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Uber and Walgreens have joined forces to expand access to COVID-19 vaccines for people who don't have a car or a nearby pharmacy. The partnership is designed to help drive equitable access to COVID-19 vaccines among underserved communities. As part of the initiative, Uber will provide free rides to Walgreens stores and offsite vaccine clinics.

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FAZOLI'S LANDS NEW FRANCHISE DEALS, BRAND POISED FOR RECORD SIGNINGS AND OPENINGS IN 2021
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On the heels of its most successful year in brand history, Fazoli’s is carrying its unrelenting momentum into 2021. Fazoli’s CEO Carl Howard announced today that the company has signed three new franchisees to add seven new locations to its pipeline throughout the Florida Panhandle, Virginia and Pennsylvania.

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CARVANA OPENS SIX NEW MARKETS IN THREE STATES
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An omnichannel platform or buying and selling used cars is debuting in Louisiana and extending its reach in Texas and New Mexico. Carvana is now offering as-soon-as-next-day touchless home delivery in Alexandria, Baton Rouge, Lafayette, and Lake Charles, La.; Las Cruces, N.M.; and El Paso, Texas.

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CHIPOTLE PLANS TO OPEN 200 NEW RESTAURANTS THIS YEAR
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Chipotle Mexican Grill is bouncing back from a slowdown of its real estate plans last year by scouting sites to develop 200 new locations this year, not far off from its pre-pandemic high of 250 in a single year. The company opened 161 outposts during what was a difficult 2020 for most restaurant operators.

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PRICE CHOPPER/MARKET 32, TOPS MARKETS TO MERGE
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Northeastern grocers Price Chopper/Market 32 and Tops Markets plan to merge, creating a supermarket retailer with nearly 300 stores in six states. Financial terms of the deal, announced Monday, weren’t disclosed. Plans call for Scott Grimmett to serve as CEO of the merged company and on its board of directors, overseeing the operations of 292 locations.

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FEATURED PROPERTIES
RITE AID
Pico Rivera, CA
NN
$9,036,000
7.00% CAP
 
RALPHS
West Hollywood, CA
NNN
$48,000,000
47,000 SF
 
ARBY'S
Goshen, IN
Absolute NNN
$2,325,622
6.50% CAP
 
IAN SCHROEDER
Senior Vice President
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+ 1 949 438 1002
ian.schroeder@cbre.com
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Senior Associate
Lic. 01984445
+ 1 949 725 8617
melissa.ley@cbre.com
MATT BURNS
Associate
Lic. 02114547
+1 714 900 0449
matt.burns1@cbre.com
ALLISON MCDUFFIE
Director of Operations
Lic. 01962031
+1 949 725 8502
allison.mcduffie@cbre.com
KYRA GRAHAM
Client Services Specialist
Lic. 02007562
+1 949 725 8477
kyra.graham@cbre.com

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