LIDL PREPARES FOR U.S. EXPANSION - TODAY'S HIGHLIGHTS
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June 17, 2015
TODAY’S HIGHLIGHTS
LIDL PREPARES FOR U.S. EXPANSION
Saabira Chaudhuri on June 12, 2015
Stores larger than 10,000 square feet?
German retailer Lidl formally announced on Friday, June 12
that it is “setting up its U.S. headquarters in Arlington County,
VA. The company will also open a regional headquarters and
distribution center facility in Spotsylvania County in the state.”
According to Supermarket News, Lidl is looking at U.S. sites
that are “larger than Aldi's 10,000-square-foot footprint, but a
spokesman would not confirm that Friday, saying the store
prototype was still in development.”
Source: Wall Street Journal, June 2015.
Read more at Wall Street Journal.
RECOMMENDED READING:
The Economic Impact of the U.S. Retail Industry: Full Report
Retail’s Impact Map at National Retail Federation
© 2015, CBRE, Inc.
CBRE Retail Newsletter: JUNE
CBRE RESEARCH
NATIONAL NEWS
WENDY’S BEEFING UP NUMBER OF GAP IS CLOSING 175 STORES, HOPING FOR A
RESTAURANTS TURNAROUND
By JD Malone on June 12, 2015 By Hiroko Tabuchi on June 15, 2015
“Wendy’s wants to end its decade-long diet. The
Dublin-based burger chain has bled stores for years
as closures outpaced new builds. The slimming ends
next year. Wendy’s 6,500-store system will gain 16
units in 2016, a small start on its way to building
1,000 new stores in North America by the end of
2020.”
Read more at The Columbus Dispatch.
Source: The New York Times, June 2015.
Gap announced Monday that “it would shutter 175 of
its 675 Gap stores in North America, of which about
CVS TO BUY TARGET’S PHARMACY 140 will close in the current fiscal year that will end in
BUSINESS FOR $1.9 BILLION January. The closings will leave the Gap label with
about 500 specialty stores in the region, in addition to
By Paul Ziobro on June 15, 2015 Gap’s 300 outlet stores, which are not being closed.”
Read more at The New York Times.
CBRE TO LAUNCH BLUEPRINT, ONLINE
MAGAZINE
By John Salustri on June 16, 2015
Source: Retail Dive, June 2015. CBRE unveiled Blueprint, an online magazine that, as
“CVS Health Corp. is paying $1.9 billion to buy and Paul Suchman, Chief Marketing Officer for CBRE says,
run Target Corp.’s pharmacies and clinics.” The deal “is dedicated to telling timely and insightful stories
will give CVS 1,795 new locations and “broaden its about the transformational role real estate plays in the
reach into new markets, such as Seattle and Portland, world.” It is designed to provide viewers with quarterly,
Ore., while greatly expanding in others, like monthly and weekly updates on real estate trends and
Minneapolis and St. Louis.” issues.
Read more at Wall Street Journal. Read more at GlobeSt.com.
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© 2015, CBRE, Inc.
CBRE Retail Newsletter: JUNE
CBRE RESEARCH
REGIONAL NEWS
TWO NEW ALLENTOWN TOWERS WILL THE 2015 BIO INTERNATIONAL
CREATE SKYLINE CONVENTION COMES TO PHILADELPHIA
By Lynn Olanoff on June 16, 2015 By Karren Johnson on June 11, 2015
The city is hosting Biotechnology Industry
Organization's (BIO) 2015 BIO International
Convention, the largest biotech gathering in the
world. It’s also the largest non-entertainment
convention to take place in the Pennsylvania
Convention Center. This Fact Sheet shows just why
Philadelphia is the perfect place for biotech
companies to be.
Read more at Flying Kite.
Source: Lehigh Valley Live, June 2015.
“Developer City Center Lehigh Valley is proposing a
19-story, 335,000-square-foot residential tower and
NEW LIFE FOR OLD WILMINGTON SPACES
a 17-story, 400,000-square-foot building named
Five City Center Innovation Tower in Center City
By Jenna Pizzi on June 16, 2015
Allentown.” Both buildings will feature a mix of office
space and retail.
Read more at Lehigh Valley Live.
PHL WELCOMES RETAILERS AND
RESTAURATEURS FOR LEASING OUTREACH
FORUM
By MarketPlace PHL on June 15, 2015
Retailers and restaurants are invited to join the PHL Source: Delaware Online, June 2015.
leasing outreach forum on Thursday, June 18 to “After a decade sitting vacant, a seven-story office
“discuss the retail and food/beverage program at building at 1300 Market Street is coming to life again
PHL and to inform qualified food, beverage and as construction begins to transform it into a hotel. It is
retail operators of locations that will become one of several office buildings in Wilmington being
available throughout all terminals.” converted into new uses.”
Read more at Business Wire. Read more at Delaware Online.
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© 2015, CBRE, Inc.
CBRE Retail Newsletter: JUNE
CBRE RESEARCH
REGIONAL URBAN NEWS
CONSTRUCTION FOR DUAL-BRANDED W APARTMENT & RETAIL COMPLEX PLANNED
AND ELEMENT HOTEL IN PHILADELPHIA FOR BROAD & WASHINGTON PARKING LOT
By Business Wire on June 17, 2015 By Vince Lattanzio on June 15, 2015
“Lincoln Square is proposed for the northwest corner
of Broad and Washington Streets in the city's
Graduate Hospital neighborhood. The project features
310 apartments on top of six retail locations in a U-
shaped building and more than 71,000 square feet of
retail is sketched out.”
Read more at NBC Philadelphia.
30TH STREET STATION DISTRICT PLAN TO
Source: Business Wire, June 2015. REVEAL 3 BOLD DIAGRAMS FOR CAPPING
Starwood Hotels & Resorts announced “the RAIL YARDS; SEEKS PUBLIC FEEDBACK
commencement of construction for its first-ever W and
Element dual-branded hotel development, scheduled By Jim Saksa on June 15, 2015
to open in the heart of downtown Philadelphia in
early 2018.”
Read more at Business Wire.
UNIVERSITY CITY SCIENCE CENTER PLANS
MASSIVE LIVE-WORK INNOVATION HUB
By James Jennings on June 12, 2015 Source: Plan Philly, June 2015.
“The 30th Street Station District team has produced
“Wexford Science + Technology has unveiled plans to three diagrams offering a wide range of different
help the Science Center expand into a massive live- elements that could ultimately find their way into a
work neighborhood anchored by office and lab final plan for the district.
space, at least 300 (and potentially up to 600)
apartments, plenty of retail and restaurants, new All three of the diagrams call for capping parts of the
walkable streets and even a public square designed to rail yards and highways to the north and west of 30th
give the 14-acre campus a sense of place.” Street Stations.”
Read details at Philadelphia Magazine. Read more at Plan Philly.
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© 2015, CBRE, Inc.
CBRE Retail Newsletter: JUNE
CBRE RESEARCH
REGIONAL SUBURBAN NEWS
LOCAL BAKERY CREATES NEARLY 2-MILE SALADWORKS: FOUNDER AND VERNON HILL
CONVEYOR IN PLANT EXPANSION OUT; BUYER PLANS GROWTH
By Natalie Kostelni on June 15, 2015 By Joseph N. DiStefano on June 15, 2015
“Bridor USA has completed a $32 million expansion
of its Vineland, N.J., production facility where it
makes croissants, brioche and chocolatine. With the
expansion, Bridor has what it touts as the longest
pastry and croissant production line in the country at
nearly two miles long.”
Read more at Philadelphia Business Journal.
Source: Philly.com, June 2015.
DEAL TO BRING NEW BOTTLER TO EX- “Saladworks, the 108-store, Conshohocken-based
OCEAN SPRAY PLANT fresh-cut salad chain, has been acquired by Centre
Lane Partners LLC, a New York buyout firm. Centre
By Jan Hefler on June 17, 2015 Lane agreed to pay $16.9 million to the
Conshohocken company's owners and creditors, and
to spend nearly $2 million in the near future ‘to help
us accelerate growth’ and update the stores.”
Read more at Philly.com.
COMMUNITY COLLEGE LOOKS TO BUILD
DORMS
By Natalie Kostelni on June 17, 2015
Source: Philly.com, June 2015.
“A developer of former industrial spaces announced “Cross Properties continues to explore sites for the
Tuesday that it will soon finalize a deal to purchase construction of what would likely be a 200-bed dorm
the closed Ocean Spray plant in Bordentown and that that would cater to students attending Montgomery
it already has lined up its first tenant - another Country Community College at its campus in
beverage bottler.” Pottstown, Pa.”
Read more at Philly.com. Read more at Philadelphia Business Journal.
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© 2015, CBRE, Inc.
CBRE Retail Newsletter: JUNE
CBRE RESEARCH
RESTAURANT NEWS
SOUTHERN JAZZ RESTAURANT COMING TO VETRI LOOKING TO EXPAND TO DEVON AND
NORTH BROAD BEYOND
By Michael Klein on June 16, 2015 By Arthur Etchells on June 16, 2015
“The space that housed Route 6 at Broad and Mount “Hungry Pigeon is a European-style cafe coming to
Vernon Streets has new tenants. They're brothers 743 S 3rd Street, on Fabric Row in Queen Village. It
Robert and Benjamin Bynum, and they will be will be a coffee shop by morning, a lunch spot in the
installing a rustic, Southern restaurant with a jazz afternoon, and at night, the lights will dim for dinner
room at 600 N. Broad St.” with beer, wine and cocktails.”
Read more at Philly.com. Read more at Foobooz.
CONTACTS
For more information about this report, please contact:
Ian Anderson Lauren Koshgarian Wei Luo
Director, Research and Analysis Senior Research Analyst Researcher
CBRE Research CBRE Research CBRE Research
t: +1 215 561 8997 t: +1 215 561 8932 t: +1 484 567 2473
e: ian.anderson2@cbre.com e: lauren.koshgarian@cbre.com e: wei.luo@cbre.com
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research, econometric forecasting, and corporate and public sector strategies to investors and occupiers around the globe.
Additional research produced by CBRE Research can be found at www.cbre.com/researchgateway.
DISCLAIMER
Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy,
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