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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!

Car Wash Wars

The car wash industry proves to withstand the negative real estate impacts that came with COVID-19. It is a solid example of necessary brick and mortar real estate that cannot be replaced by the internet. Car washes are shifting towards a subscription-based membership program, much like a fitness center, to guarantee revenue, create loyalty, and decrease long-term income risks.
 
With the increased interest of real estate investors in the car wash business, corporate and franchised companies are looking to turn what is typically identified as a locally owned specialty, into a multiple-location chain business.
 
Dozens of these corporate car wash companies are looking to enter and expand into the Northeast Ohio market. These companies have quickly realized that they need to compete for real estate and fight for each and every site. The demand for car wash sites is extremely high, while the supply of high-traffic real estate in densely populated markets is low. Landing in the market first with multiple locations will help push one car wash brand ahead of the other. Investors and operators are more willing to pay premium prices to outbid their competition on the best commercial real estate to secure market dominance.
 
 
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Net Lease Assets for Sale

Since the start of the pandemic, net-lease real estate has gone through a time of uncertainty while investors determine how the market will shift. However, during this time of hesitation from investors, the market for investment grade, single-tenant assets has remained strong. Credit tenants contain a credit rating of BBB- or higher from credit rating agencies such as Standard & Poor’s and Moody’s. Private and institutional investors view these assets as less risky while producing stable returns.
 
The Goodman Investment Group has closed numerous single-tenant net-lease assets since the start of the pandemic that contain a strong credit rating. Recently, the Goodman Investment Group sold an off-market Walgreens to a West Coast- based private buyer at full ask price for a repeat client.
 
Please inquire directly with Kyle Hartung or Jeff Sabo for information regarding other net-lease assets for sale.
 
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Rural King Relationship Continues to Thrive

When Bobby Benjamin was fortunate enough to find Rural King over 15 years ago and help the company acquire several new store locations over the following years, it was hard to envision how dynamic the broker and client relationship would evolve to be today. Rural King is now represented by Goodman Real Estate Services Group LLC on all real estate acquisitions, dispositions, investment sales, and marketing services throughout the US. 

Rural King is a farm and home supply store with 130 locations across 13 states. Their store expansion rate has increased since Randy Goodman and Alex Justice began managing the account in 2015. Goodman and Justice have since sealed 39 acquisitions, with many more to come in 2021.

Goodman and Justice work closely with Rural King’s Real Estate Department and several other Rural King and third-party team members to accomplish all acquisition and sale/lease projects. What started out strictly as new-store-location purchases has since expanded to include a portfolio of owned-property sales/leases and investment properties bought or sold by Goodman Real Estate Services Group for Rural King.

According to Justice, “Our company has an all-hands-on-deck approach when working with Rural King. Randy and I are the Rural King-Goodman team leaders and deal makers. We work together to manage and complete our list of tasks while making the most of the team we have behind us both in-house and out of state* to get everything accomplished.”

Goodman Real Estate Services Group’s marketing team has played a pivotal role in promoting Rural King’s brand and properties. The team launched and still manages Rural King’s real estate  , which currently includes a portfolio of approximately 50 properties that are available for sale or lease. All marketing materials, including property brochures, portfolio books, site planning, demographic reports, digital and physical maps, etc., are planned and created in-house by the marketing team. 

Kyle Hartung, Director of Investment Sales, and Jeff Sabo, Investment Sales Advisor, manage the investment sales portion of the Rural King account. Hartung and Sabo provide pricing analysis and leasing recommendations, nationally market and source buyers for Rural King-owned shopping centers, and examine potential acquisitions. The investment sales team has transacted on behalf of Rural King throughout the Mid-Atlantic, Mid-West, and South.  

On March 13, 2021, Rural King opened six new locations in Indiana (Avon and LaPorte), Ohio (Chillicothe and Cambridge), and Pennsylvania (State College and Hanover). Goodman Real Estate Services Group is always looking for more big boxes of at least 75,000 square feet or shopping centers with a vacant big box for Rural King to acquire to continue their strategic growth.

*Goodman Real Estate Services Group LLC partners with Veritas Realty, Interstate Realty Company, Petroplus & Associates, Inc., KP Commercial Real Estate, Pinpoint Retail Company, LLC, and Cojak Land Services, LLC to sell/lease properties in Indiana, Florida, Tennessee, Virginia, West Virginia, Alabama, Pennsylvania, and Illinois.

 

 

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Drive-Thru Experience - Changing the Game of Quick-Service Restaurants

In wake of the COVID-19 pandemic, the importance of quick service restaurants having drive-thrus soared in 2020. While many dine-in services remain closed or limited capacity, research shows that drive-thru windows are not only here to stay, they are rapidly growing. Restaurants are starting to see the benefits and results of elevating the ordering experience. Many Chick-fil-A locations revamped their hospitality service design by investing in dual-lane drive-thrus to handle the large capacity of customers. A new and evolving alternative is the pick-up lane or walk-up window option. 

 

Starbucks has introduced a drive-thru-only model that incorporates a special walk-up window for customers ordering through the Starbucks app. Restaurants like Chipotle and Wingstop, who have historically been sit-down, are now introducing pick-up windows for customers to grab their food and go. Several restaurants incapable of accommodating the new trend are actively seeking fresh locations that will allow them to offer customers a seamless drive-thru or pick-up experience. 

 

In the last year, Goodman Real Estate Services LLC has completed 36 drive thru deals with clients such as Starbucks, Chipotle, Chick-fil-A, Dairy Queen, Slim Chickens, and Panda Express. It is estimated that 55 more transactions are to come in 2021. As quick-service experiences change over time, one thing is certain: every client of Goodman Real Estate Services LLC wants to provide the best possible experience for their customers.

 

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Chipotle's New Location in Defiance, Ohio

Congratulations, Chipotle! Their new location in now open in Defiance, Ohio!

#cre #commercialrealestate #goodmanre #chipotle #nowopen #DefianceOhio #DefianceOH #growth #restaurants

#restaurantnews #restaurantindustry #hospitality #realestate

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