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Is the Chicken Takeover Here to Stay?

Since the beginning of fast food, the hamburger has been the reigning champion of the fast casual restaurant industry. In recent years, however, it seems that the American fast food craze has shifted its focus to the chicken sandwich. Perhaps fueled by the famous “Chicken Sandwich Wars,” beginning in 2019 between Chick-Fil-A and Popeyes, quick-service chains have seen a rise in demand for fried chicken sandwiches in drive-thrus across the country. As a response, many franchises upgraded their chicken sandwich recipe, and even restaurants that are known for burgers rolled out new chicken sandwiches to participate in the trend.
 
According to industry statistics, the market size of fast food chicken franchises in the United States has grown 4.8% annually between 2017 and 2022, and it is expected to increase another 4.5% in 2022 (IBISWorld). Goodman Real Estate Services Group represents several quick-service chicken restaurants, such as Slim Chickens, Chick-fil-A, and Dave’s Hot Chicken, who have experienced this growing success. According to QSR Magazine, Slim Chickens has had a groundbreaking year, opening almost 40 new locations and being named the Breakout Brand of the Year by QSR Magazine in 2021. Chick-fil-A has also continued steady growth even throughout the pandemic, and was named #3 in The QSR 50: The Fast-Food Industry's Leading Annual Report. Dave’s Hot Chickens was named one of the Top 10 hottest brands by Fast Casual in 2021. It appears that the chicken restaurant takeover will not be slowing down any time soon. 
 
 
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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.
 
 
 
 
 
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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. 
 
 
 
 
 
 
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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.
 
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Goodman Now Marketing Retail, Restaurant, and Hotel Sites at THE LINCOLN LAND OF SPORTS Development in Mattoon, Illinois

Mattoon, Illinois, will be home to a brand new $60M indoor and outdoor sports complex situated on 150 acres. The Lincoln Land of Sports Complex is slated to open in 2023 as a first-rate sports, wellness, and events venue. The development will be centrally located on the west side of the Interstate 57 and Charleston Avenue interchange between several major metropolitan statistical areas (Chicago, Indianapolis, and St. Louis) and numerous micropolitan statistical areas. The site offers walkable access to retail, restaurant, and hotel amenities. Sports Facilities Companies Network (Sports Facilities Advisory, Sports Facilities Development, and Sports Facilities Management) will be developing and managing this project.
 
The sports complex will feature 16 outdoor multipurpose fields for a wide range of field sports. The indoor fieldhouse will have the capacity to accommodate 8 full-size basketball courts and 16 volleyball courts. As the youth sports tourism industry is expected to grow by 15% annually over the next five to seven years, the sports center is predicted to have a substantial economic impact on the area (Wintergreen Research). Market research conducted by Sports Facilities Advisory projects that there will be 580,000 visitors annually, $423.8 million in direct annual spending, and 59,278 hotel rooms booked annually. With 55 acres of retail, restaurant, and hotel opportunities, the Lincoln Land of Sports Complex presents dynamic leasing opportunities with strong buying power.
 
Together with the State of Illinois licensed broker, Cojak Land Services, LLC, Randy Goodman, President of Goodman Real Estate Services Group, and Alex Justice, Sales and Leasing Associate at Goodman Real Estate Services Group, are marketing the retail, restaurant, and hotel components of this exciting new development.
 
For leasing opportunities and more information on The Lincoln Land of Sports Complex, please contact Randy Goodman - This email address is being protected from spambots. You need JavaScript enabled to view it. or Alex Justice - This email address is being protected from spambots. You need JavaScript enabled to view it.
 
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