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Welcome to our blog! Our blog will give us the opportunity to share news, updates and success stories we have going on here at Goodman Real Estate. Thank you for visiting!

Mattoon Illinois' Cross County Mall Gets New Ownership and Looks to Add New Tenants

The Cross County Mall in Mattoon, Illinois recently came under new ownership. Rural King Realty LLC took over the 300,000-square-foot enclosed mall which is currently anchored by JCPenney. Rural King is set to open January 2019 in a 75,000-square-foot former Sears, and Scotty’s Brewhouse will also be joining within the year. These two new additions will draw residents from up to 45 miles away for a more experience-driven shopping destination. Rural King caters to a rural consumer, offering sporting and outdoor goods, lawn and garden, working apparel, food, household, farm, and livestock accessories. The retailer provides a unique shopping experience as customers are welcome to grab some popcorn and a cup of coffee as they shop. Rural King has their corporate office and distribution center in Mattoon.

Scotty’s Brewhouse will be serving up craft beer and their fresh, signature ground chuck that is used in every burger while making most sauces and dressings in-house. The restaurant entices the sports fan with lots of TVs and lively atmosphere.

The mall, which is located at the crossroads of Interstate 57 and State Route 16, is the primary shopping destination in the Charleston-Mattoon area, a market of over 100,000 people and home to two colleges.

For leasing information, please contact Alex Justice or Bobby Benjamin at Goodman Real Estate Services Group LLC 216-381-8200.

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Clean Eatz Opens at Heisley Pointe

Zachary Sogoloff and Seth Marks recently went to the grand opening of the health-conscious restaurant, Clean Eatz, which is now open in Heisley Pointe Shopping Center, located at the intersection of Mentor Avenue and Heisley Road in Mentor, Ohio.

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The Not So Obvious Reasons You Should Invest in Successful Restaurant Chains

Americans spent more money dining out than in grocery stores for the first time ever in 2015. Since then, restaurants have made changes to accommodate today’s consumer. These changes can be a huge payoff for investors looking to contribute to an already successful, established corporation such Starbucks, Chick-fil-A, and Chipotle. But why should investors, more now than ever, choose to invest in restaurants such as these? Customers want quality, convenience, and a unique experience while dining and because these companies have capitalized on these trends, they offer a unique and stable opportunity for investors

Larger and more established restaurant chains aren’t necessarily looking for constant expansion opportunities. This allows the companies to pay out more of their profits to shareholders, instead of investing in new business. For example, Starbucks generated $23.1 billion in net income from 2008-2017 while paying owners $5.2 billion and reinvesting $17.9 billion back into the company. With this, companies like Starbucks can dabble in craft markets such as health-focused and high end experiences without much risk. Starbucks has already seen success in its luxury reserve roasteries that offer higher-priced menu items in a unique store layout.

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Goodman Real Estate Services Group, LLC Visits Chipotle Store #1

                

Our Senior Vice President/Principal, Richard Edelman, recently had the opportunity to visit the site of the first Chipotle Store in Denver, Colorado.

This location opened in 1993 and at that time only served burritos. Currently, the location is a hot spot for University of Denver students and Chipotle history buffs alike.

Richard has been working with Chipotle since 2000 and has successfully negotiated 70 transactions, including the milestone 500th location in Fairview Park, OH. Seeing where it all began for one of Goodman Real Estate Services early clients, who have helped build our company into what it is today, was a homecoming and an exciting encounter!

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Local Brokers Know Best

Recent work for a franchisee of WingStop (a Top-50 national chain in the quick-serve restaurant industry) proves that local broker knowledge can be indispensable, even when the chain itself has strict guidelines.

The issue was demographics, where the head office in Dallas instructs its operators to pursue only certain neighborhoods with an “ideal” mix of incomes, density and ethnicity.

When following the guidelines, one unit here in northeast Ohio turned in a less than stellar performance, even though it hit every requirement of a typical WingStop.

In acquiring the next site, we were able to convince the franchisor to get behind a different sort of ethnic and income mix, that provided steady traffic at all hours of the day (especially from 6:00 pm to midnight, when most wings and fries are sold) due to road patterns, other quick-serve food players in the vicinity, and demand generators like hotels or a cinema.  Because the name WingStop is not generally known here yet and customers may think it’s a mom-and-pop (they recently exceeded 1,000 stores), the sales started slowly but have been steadily building, to the point where year two performance was 30% over year one and continues to grow.

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