It's not surprising that big box retailers have felt the effects of this digital age, which has forced many, including Toys”R”Us, Sears, Macy’s and more to close stores. So, what happens to that space and how are investors and real estate professionals attempting to make use of it?

Most often, people seek to reuse the space. This option is the most environmentally friendly but with carbon footprint aside, this option also helps retailers looking for smaller space. By dividing these large big boxes, real estate developers can accommodate multiple tenants. The age of massive retail space may be over, since consumers are gravitating towards online purchasing but retailers are adjusting to this and downsizing, now offering less inventory in-store and giving consumers the option to order the products they see, online. Showrooms are something retailers are experimenting with as well. This allows customers to get that physical touch a brick and mortar provides and then allowing them to make a purchase online and have the product delivered.

Chick-fil-A in Mayfield Heights, Ohio is now open and they made sure the community was involved with its debut.

The popular restaurant chain typically gives away free food for a year when opening a new location but with this opening in Mayfield Heights, there was a twist. The first 100 people to arrive at the restaurant before 9am the day before the grand opening, slated for Thursday, January 10^th, were invited to board a charter bus that would take them around the community and volunteer before getting back to the restaurant in the afternoon to claim their prize of a weekly Chick-fil-A sandwich meal for a year. This “First 100 Road trip” encourages participants to get involved with their community and allows Chick-fil-A to get acquainted with some of their new neighbors. Operator Billie Federer told WKYC that they “would rather do something and make sure they’re being a positive influence in the community”. The group was able to donate canned goods and books to local charities.

Chick-fil-A is the newest tenant at Golden Gate Shopping Center, located on Mayfield Road in Mayfield Heights, OH. They join other tenants including Fresh Thyme Farmer’s Market, PetSmart, Marshall’s, Joann and Cost Plus World Market. The 371,748-square-foot shopping center recently went under a $5 billion improvement plan that was completed in 2018.

For more information about this location or available space, contact Jim Becker or Rob Yaskanich of Goodman Real Estate Services Group LLC at 216-381-8200.

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.

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.

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.