Top Fast-Casual Chains 2012's
1. Smashburger 145 units Adding 50 to 70 loca- tions
in Chicago,
Houston, Dallas, Los Angeles, Minneapolis, San Francisco, Boston, and Washington, D.C.
2. Zoës Kitchen 54 units
New locations to open in Dallas-Fort Worth, Texas; Raleigh-Cary, N.C.; and Columbus, Ga.
3. Firehouse Subs 494 units Adding 429 locations in Iowa, Louisiana, Mas- sachusetts, Michigan, Minnesota, Nebraska, Ohio, Pennsylvania, and Texas.
Source: FastCasual.com
Briefl y Noted
Hospitality — Hotel investors have shifted away from luxury acquisitions to focus on "strong upscale brands in solid markets," says Stephen R. Hennis, director of STR Analytics. While New York, Washington, D.C., and San Fran- cisco remain favored locations, Boston, Atlanta, and Nashville, Tenn., have also attracted investor attention.
Industrial — "As of mid-2012, the industrial sector has leased more space during this recovery than it shed during the recession," says Cassidy Turley's chief economist, Kevin Thorpe. With 2Q12 net absorption at 19.8 msf, high- est demand was in the Midwest and South, which accounted for 88 percent of overall absorption.
Offi ce — Despite a hiring slowdown, offi ce leasing for the fi rst half of 2012 remained on par with last year, with positive offi ce net absorption occurring in 64 of the 80 metros tracked by Cassidy Turley. And with new offi ce construction more than 60 percent below the historical norm, supply/demand factors have continued to push the national vacancy rate lower and rents slightly higher for several consecutive quarters.
Multifamily — Improving fundamentals for class B and C properties and secondary markets have kept investors interested in apartments according to Marcus & Millichap, with 2Q12 investment sales rising 38.6 percent over 2Q11.
Retail — More than 1,100 retail outlets closed in 2Q12, a reduction of 10.3 msf, and more than double the number of stores closed in 1Q11, according to a joint International Council of Shopping Centers and PNC Research report.
Whole Foods Profi ts
Fuel Expansion A healthy 32 percent rise over last year's second-quarter profi ts and a branding as America's healthiest grocery store has Whole Foods moving toward 1,000 stores, up from its cur- rent 369. Twenty-five new stores will be open by year- end and 12 additional leases have been signed, according to chainstoreage.com.
Largest % Change in Offi ce
Jobs, 2Q11–2Q12 Excluding major markets
San Jose, Calif. Austin, Texas Tampa, Fla. Detroit
Orange County, Calif. Source: Jones Lang LaSalle
5.3% 5.2%
4.3%
3.7% 3.6%
0123456
CCIM.com
September | October | 2012
9
Adamson/veer