In The News


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!

Cap Rate Compression in the Drive-Thru Sector

From 2020 to 2022, cap rates have compressed throughout nearly all commercial investment types. Many factors have led to this compression, including rising inflation, a recent flight to hard assets, changes in the political landscape, re-opening of the economy and, of course, less supply coupled with increased demand overall. One investment type that has been especially pronounced is the retail quick service restaurant (QSR) segment. 

Throughout 2020 and the few years leading up to it, average closing cap rates for new Starbucks and Chipotle leases with 10 years of term were in the 5%-5.35% range. Within only 6-12 months, these compressed to 4.25%-4.75%, depending on lease type and location, for an overall drop of up to 75 basis points. Not only have cap rates compressed significantly for the asset type, NNN-leased QSR’s as a whole are difficult to find for many 1031 investors, compressing cap rates further even for the smallest of franchisees. What does this mean for buyers in continued competition for quality (and even lesser quality) QSR deals? Owners of these properties should evaluate their portfolios and consider divesting of any non-core assets they may have previously thought about selling to take advantage of record high pricing.
If you have questions about buying or selling on a national basis, you can reach out to Kyle Hartung, Vice President and Director of Investment Sales at Goodman Real Estate Services Group, LLC.
Continue reading

Jersey Mike's: Solving the Online Order Frenzy

It is no secret that the demand for online orders and third-party food delivery has been on the rise since the beginning of the pandemic. For many restaurants, this increase has been monumental in maintaining business over the past few years, but it has also created new challenges in ensuring a satisfying in-store experience for customers. Confronted with a challenging labor market, many restaurants are not running with a full staff. It is not uncommon to enter a restaurant with the hopes of a speedy transaction only to find long lines and overwhelmed employees due to an influx of online orders. Many major companies in the quick-service industry are taking different actions to adjust to the growth of virtual ordering. The following is one way that our client, Jersey Mike’s, is solving the in-store inconvenience for those who choose to order in-person.
WLZ Restaurant Group, LLC, a franchise operator for Jersey Mike’s Subs in northeast Ohio, is looking into plans to open strategically placed remote kitchens to keep online orders and in-store exchanges separate. With the customer in mind, these kitchens will be used solely to prepare the online orders and to provide a unique pick-up location for third-party food delivery drivers without disrupting the flow of in-store purchases. Jersey Mike’s aims to create a smoother experience in the restaurant as well as improve online order preparation, all while cutting labor cost and lessening the burden on employees and customers alike.
Michael Weiss, Senior Director at Goodman Real Estate Services Group LLC, and an eight-unit franchise owner, are working with Jersey Mike’s Subs on this project. 
Continue reading

Fight for the Site

Securing real estate for medical marijuana dispensaries is no easy feat. The expansion of the medical marijuana industry has rapidly increased the demand for cannabis commercial properties. For a site to be deemed suitable for marijuana retail, it must adhere to local zoning requirements, state laws, and federal laws. For example, Ohio state law does not allow any medical marijuana retail dispensary to be located within 500 feet of a school, church, public library, public playground, or public park. Due to such unique circumstances, the number of potential sites is very limited.
Cannabis companies have learned to move quickly to find locations in order to navigate this complex real estate process. Before owners can obtain a cannabis license, they must first acquire a property. Therefore, securing a purchase or lease agreement for a certain location is vital. Competition for sites has been so fierce that many companies even put down non-refundable deposits for a chance at acquiring a site. Certain landlords have deals with multiple dispensaries on the same location, providing the landlord with a substantial stream of income on a vacant space. Further, marijuana dispensaries are extremely profitable. According to Marijuana Business Daily’s 2021 Marijuana Business Factbook, data shows that the average marijuana dispensary makes $974 in revenue per square foot of space, making each site worth fighting for.
The State of Ohio has begun the process of awarding the next round of medical marijuana dispensaries. The winning bids are selected randomly through a lottery, and there will only be 73 new licenses granted throughout the entire State, adding to the existing 57 established locations.
Continue reading

Goodman Real Estate Joins #1 Retail Brokerage Network in North America

Cleveland, Ohio - February 8th, 2022 - Goodman Real Estate Services Group and ChainLinks Retail Advisors are proud to announce that Goodman Real Estate Services Group is the new Northern Ohio partner of ChainLinks Retail Advisors, the nation’s leading retail-focused real estate services and commercial property brokerage organization. 
“ChainLinks has had a strong presence in Northern Ohio for many years. The opportunity to align with Goodman Real Estate Services Group (the premiere retail brokerage company in Northern Ohio) solidifies our presence in a key Midwest territory. We are very excited to have the unparalleled relationships and platform they will bring to the organization. Our ability to further extend the reach of our clients through Goodman Real Estate Services Group will exponentially leverage the strength and capacity of our team,” stated Geoffrey Mackler, Co-Chairman of the Board, ChainLinks Retail Advisors.
Since 1979, ChainLinks Retail Advisors has served America’s top retailers, landlords, and investors as the leading team of retail real estate service companies. ChainLinks provides superior connections and expertise to service clients, with over 750 brokers in the top 50 North American markets. Each company is independently owned and operated and is considered the best within their respective markets, especially by ChainLink’s rigorous standards. Combining the representation of the member offices, ChainLinks exclusively represents over 1,500 retailers and 4,000 properties consisting of over 300 million square feet of retail space.
“Since founding our company in 1998, Richard Edelman and I have been interested in becoming a part of this premier organization. We have always been impressed with the quality companies that ChainLinks’ members represent and their exceptional brokers that produce great locations for their customers. We are excited to join the best in retail real estate.” - Randy Goodman. 
“Our company is eager to contribute its local expertise and services to the ChainLinks organization. We look forward to the new partnerships and existing relationships we will broaden by joining the 55 other esteemed offices that make up this national team. It will be a great benefit to connect to a wealth of market knowledge and exchange information, ideas, and resources. Meaningful collaboration is critical to thriving in our business. It is key for us to continue excelling at our main goal: producing the most positive results and success for our clients.” - Richard Edelman.  
Goodman Real Estate Services Group has been a Midwest market leader in commercial real estate services for 24 years, specializing in retail, representing more than 100 companies in site selection, and currently marketing over 10.7 million square feet of property for sale or lease. As the new ChainLinks Retail Advisors representative of Northern Ohio, Goodman Real Estate Services Group will provide this organization with comprehensive services and local expertise in buyer and tenant representation, property marketing, and investment sales.
For more information, contact Kristine Lemmex at This email address is being protected from spambots. You need JavaScript enabled to view it..
Continue reading

Eight New Deals Signed in 2021 at Ridge Park Square

Goodman Real Estate Services Group's exclusive contract to represent  Zeisler Morgan Properties Ltd.'s Ohio properties has been extended for a ninth year after completing eight deals at Ridge Park Square in the past year alone. The 2021 NEW deals at Ridge Park Square include Red Crab – Juicy Seafood, Pulp Smoothie (open), Hibbett's (opening soon), DTLR (open), Five Guys (under construction), Click It (open), Crumbl (under construction), and Firehouse Subs (under construction).  
Zack Sogoloff, Senior Vice President at Goodman Real Estate, and Seth Marks, Senior Associate at Goodman Real Estate, have served Zeisler Morgan as its exclusive listing agents on Ridge Park Square, Westwood Town Center, and French Creek Square for the past eight consecutive years. Their shared success only confirms our belief that strong communication builds relationships and leads to multiple transactions.
For more information on opportunities at Ridge Park Square, Westwood Town Center, or French Creek Square please contact Zack Sogoloff - This email address is being protected from spambots. You need JavaScript enabled to view it. or Seth Marks - This email address is being protected from spambots. You need JavaScript enabled to view it.
Continue reading

What's Good at Goodman?

Stay up to date with us on all things
CRE by joining our email list