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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!

“Retail-tainment” on the Rise

It has been 2 years since COVID-19 brought our daily life to a halt, and consumers today are constantly seeking new experiences and thrills. Entertainment concepts that took a hit from the pandemic seem to be getting back on track, and forward-thinking big box entertainment concepts continue to evolve. Further, many entertainment franchises have entered the retail scene, occupying space in shopping centers and malls following a trend known as “retail-tainment.”
 
Dave and Buster’s, the restaurant and entertainment chain, suffered greatly throughout the pandemic. Now, they are on their way back to pre-pandemic success levels, boasting 6% higher revenue’s than the chain made in 2019. The video game arcade company has learned to adapt to the changes brought on by the pandemic, and have even introduced a mobile app that allows users to pay and play right off their phones (National Restaurant News). Recently, Dave & Buster’s acquired Main Event, a state-of-the-art "all you can play" entertainment concept, for $835 million according to Shopping Center Business.
 
Many developers are accepting that entertainment is a major player in the future of retail. In 2018, Jim Becker, Senior Executive/Director at Goodman Real Estate Services, represented Main Event in the deal that introduced the entertainment venue to the Northeastern Ohio market in Avon, Ohio. Jim Becker currently represents Launch Entertainment, an exciting leader within the family entertainment industry that offers trampoline courts, dodgeball, rock climbing, laser tag, virtual reality rooms, ninja courses, an in-house restaurant, beverage services, and more. On a mission to rapidly grow their national reach, Launch Entertainment has recently opened new locations in Florida, Massachusetts, Michigan, Virginia, Texas, and are looking to expand to Ohio. The franchise currently has 80 centers open and under development.
 
Scene75 is a similar concept, with a full restaurant, bar service, and over 100 games available to play. The company was named the #1 Entertainment Center in the world by the International Association of Amusement Parks and Attractions in 2016 and 2021. Scene75 offers several attractions, including Indoor go-karts, laser tag, blacklight mini-golf, virtual reality room, a 4D motion theater, bumper cars, arcade games, bars, a restaurant, and more. 
 
Topgolf International is an excellent example of an entertainment concept that continues to evolve. Each Topgolf facility offers an engaging way to eat, drink, socialize, and play a game of simulated golf. High-tech golf balls are hit from climate-controlled hitting bays, aimed at targets throughout the giant outfield, and the balls score themselves. Every location is created differently, varying between single-level and multi-level venues. The Nashville location is home to a two-story live performance venue, over 200 HDTVs, a rooftop terrace with a skyline view, and a VIP deck with a private balcony and bar. The chain opened 10 new venues in 2021, and there are 9 new facilities currently being built (GolfPass).Topgolf has built over 74 facilities in the past two decades, and they are continuing to expand and innovate to improve customer experience.
 
Beyond Golf and X-Golf are similar golf entertainment concepts, but they operate indoors and on a much smaller scale, fitting well in shopping centers. Beyond Golf is a venue that allows players to enjoy gourmet food, craft beers, and cocktails, all while playing games on popular golf courses around the world through a high-definition simulator. X-Golf also offers games of simulated indoor golf with over 50 open locations in the U.S., occupying roughly 10,000 square foot spaces. At X-Golf, players can take golfing lessons, play on virtual courses, enter tournaments, and enjoy a full bar and restaurant. In 2021, Steve Altemare, Senior Vice President; and Rob Yaskanich, Senior Director, at Goodman Real Estate Services Group LLC, represented the landlord in the transaction that brought X-Golf to the Avon Commons shopping center.
 
The "retail-tainment" trend has excelled as the population shifts more towards online shopping, and many shopping centers and retail spaces are seeking tenants that will appeal to consumers in different ways. Decades ago, it would be uncommon to find entertainment and restaurant concepts anchoring shopping centers. Now, movie theaters, restaurants, arcades, bowling alleys, and new forward-thinking concepts have become an attractive addition to retail centers, and even help to boost the success of surrounding retailers. 
 
 
 
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"Medtail" Mania

Healthcare has become more local as medical retailers strive to offer convenient alternatives to hospitals or geographically distant office spaces. Medical providers across the country are seeking sites in retail locations such as storefronts, malls, and shopping centers to repurpose as both urgent and primary care facilities. In 2020, nearly seven in 10 adults in the United States were visiting a health care provider in a shopping center or enclosed mall or strip mall, following a survey done by ICSC. This trend of healthcare retail has only escalated since the pandemic. 
 
According to The New York Times, medical providers are taking advantage of depressed rents to open facilities within malls and shopping centers located in suburban and rural areas, even entering big-box spaces vacated by department stores. Following a pandemic that forced many retail stores to close, Landlords are also seeing the benefits of working with medical tenants who typically sign long-term leases and are financially reliable (Advisory Board).
 
WellNow Urgent Care, recently purchased by Aspen Dental, is a company that has followed suit by opening urgent cares in retail locations throughout New York, Ohio, Michigan, Illinois, and Indiana. In Rochester, New York, a former Sears department store will soon be the home of a 350,000 square foot orthopedic healthcare campus, offering surgical services amidst several fashion, sports, and entertainment retailers at the Marketplace Mall (The Wallstreet Journal). Concierge medicine has also been on the rise, providing a popular option for patients looking for accessible healthcare, personalized services, direct access, and shorter wait times. Concierge doctors are more affordable than ever, and they do not require traditional medical real estate spaces. From minute clinics to surgery centers, medical retail has turned into a new commercial real estate norm. 
 
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The Future of Gas Stations

As we continue to transition into a world of electric power, one thing remains clear: change is inevitable.
 
Electric cars have been around for a while, but they may dominate the market faster than we think. BCG predicts that sales of electric vehicles will amount to one third of the market by 2025, and 50% by 2030. Volvo plans to be purely electric by the year 2030. What does this mean for the future of gas stations?
 
The truth is that most gas stations do not make their money from selling gas. The real profit comes from the convenience stores located within the gas stations. According to the National Association of Convenience Stores, there are 148,026 convenience stores operating within the United States, and 116,641 of those stores sell motor fuel (NACS). 80% of all motor fuel sold in the U.S. is sold by convenience stores. Further, a study done by NACS shows that 44% of gas station customers go inside, and 1 in 3 people end up purchasing a good from the convenience store. These in-store purchases make up roughly two thirds of the average gas station's overall profits.
 
Many fuel and convenience retailers, such as Sheetz and Wawa, are paying well above market price for sites located at prime corners. Location might make the difference in whether these gas station convenience stores see substantial profit or not. As electric cars become more popular, the need for charging stations will only increase. Especially considering the recent spikes in gas prices, electric charging itself presents a cost-efficient and overall more progressive choice. Fuel retailers might see this as an investment opportunity for charging stations. It is also likely that these electric chargers will bring customers inside of convenience stores similar to traditional fuel pumps. Charging an electric vehicle takes longer than filling up a gas tank, leaving consumers more time to shop. In the future, gas stations may be repositioned as “service stations,” offering more fast casual restaurants or food delivery to enhance consumer experience, as suggested by CNET. Ultimately, gas stations will need to adapt to the imminent changes within the automotive industry, and seek sites that are likely to increase in-store traffic.
 
 
 
 
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Goodman Real Estate Announces Zack Sogoloff and Seth Marks as New Leasing Agents for First Interstate Properties 2,500,000 SF Retail Portfolio

Zack Sogoloff, Senior Vice President; and Seth Marks, Senior Associate at Goodman Real Estate Services LLC, have been selected as the leasing agents for First Interstate Properties’ northern Ohio portfolio of retail property. These assets include two of the Midwest's largest super-regional shopping centers, Steelyard Commons (808,619 SF) and Avon Commons (775,103 SF). Other highly notable properties include Willoughby Commons (468,131 SF), Oakwood Commons (297,552 SF), One University Circle, and the Avon 611 development. Goodman Real Estate Services Group LLC has represented these significant developments from the ground up, including involvement in the design, pre-leasing, leasing, and phase II and phase III development; and the company continues to represent them today.
 
Zack Sogoloff has been in the commercial real estate business since 1997 when he joined Goodman Real Estate Services Group LLC. Since then, he has been a top producer in power-center development and leasing throughout Ohio. Seth Marks has been in the business for 12 years and has extensive experience in shopping center leasing across more than 15 states. Zack and Seth have been partners for eight years, since Seth joined Goodman Real Estate Service Group LLC. Together, the agents work on pre-leasing, leasing, and developing shopping centers for their clients, and are responsible for over 6.5 million square feet of existing retail space.
 
First Interstate Properties is a full-service real estate development and management company. Mitchell Schneider, President of First Interstate Properties, created the company in 1989. Since then, First Interstate Properties has become a highly respected developer of projects throughout Northeast Ohio and is known for creating significant value and providing high-quality work. Goodman Real Estate Services has worked with First Interstate Properties since its beginning in 1998 and is excited to continue this professional relationship. 
  
“We are grateful to have worked with the team at Goodman Real Estate since it’s inception. The team has deep market knowledge and strives to develop quality relationships with landlords and tenants alike. People trust this team because they have a proven history of integrity and success – a terrific combination! It bears out in the success of the centers they lease in our portfolio, which have averaged above 96% occupied for many years." 
 
– Mitchell C. Schneider
President, First Interstate Properties
 
 
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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.
 
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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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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..
 
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New Development Under Construction - Worthington Gateway in Worthington, Ohio

The City of Worthington in Ohio is undergoing major change at the intersection of North High Street and Wilson Bridge Road, with new developments under construction and proposed. Goodman Real Estate Services Group LLC has had a hand in the redevelopment and revitalization of this well-known destination.
Since 1972, when what was then called The Worthington Square Shopping Center opened its doors, this area has featured restaurants, retailers, and a full-service Holiday Inn hotel that served the local community and community at large.  In 2011, The Worthington Mall, as it was known locally, was redeveloped and changed to The Shops at Worthington Place. Over a dozen stores were added to The Shops at Worthington Place including Pies & Pints, Panera Bread, Orvis, Piada, and First Watch. In December 2018, demolition began on the 7-acre Holiday Inn hotel, paving the way for a new mixed-use development called Worthington Gateway which will include retail, restaurants, service industries, and office space to be developed in its place.
 
Fast forward to today, and Worthington Gateway is well under construction welcoming the first new tenants in spring of 2022. The Shops at Worthington Place is under proposal to redevelop a portion of the shopping center into new Class A office buildings with mixed-use retail/restaurant.
These developments have been approved by the City of Worthington to transform the area into a destination catering to the current needs of retailers, restaurants, and office tenants.
Goodman Real Estate Services Group LLC Vice President and Columbus Office Manager, Daniel Clark, and Goodman Real Estate Services Group LLC Columbus Office Sales Associate, Jessica Sonders are the listing agents for Worthington Gateway, assisting the owners in bringing quality tenants to the development. The three tenants slated to open their doors once the buildings are completed include Club Pilates, Orangetheory, and Tropical Smoothie Café. Club Pilates offers a variety of Pilates classes for any age or fitness level and will take up a 1,675 SF space. Orangetheory provides a space for fitness such as rowing, cardio, and strength training, and will enter a 3,000 SF space. Tropical Smoothie Café offers quality power food and smoothie options to customers on the go and will join Worthington Gateway in a 1,407 SF space. Other new tenants are expected to be announced in December 2021. 
 
For leasing opportunities and more information on Worthington Gateway, please contact Daniel Clark - This email address is being protected from spambots. You need JavaScript enabled to view it. or Jessica Sonders - This email address is being protected from spambots. You need JavaScript enabled to view it..
 
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Youngstown, Ohio – New Wingstop Locations to Open in the Youngstown Retail Trade Area

Wingstop will debut two new locations in Youngstown, Ohio.
 
A Wingstop franchisee purchased a shopping plaza at 48 Boardman Poland Road (U.S. Route 224) in Boardman Township, Ohio, which will include the new Wingstop and more available space to be offered at this location. 
 
Wingstop will also open a new location in Niles, Ohio. The restaurant will be located at 6261 Youngstown Warren Road (U.S. Route 422) and will join Little Caesars Pizza, Red Wing Shoes, Subway, and other retailers at Gentry Plaza. The shopping center is on the corner of Youngstown Warren and Niles Cortland roads (State Route 46). Bobby Benjamin, Associate Broker at Goodman Real Estate Services Group LLC, represented Wingstop, the buyer and tenant in these transactions. 
 
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Coming Soon to Mentor, Ohio - BIBIBOP

BIBIBOP Asian Grill is coming soon to Mentor, Ohio, and will be located at 7851 Reynolds Road. Construction is in progress to retrofit the existing building for BIBIBOP. The new location is set to open in December 2021.
Restaurants surrounding the Korean-inspired, fast casual spot include DiBella’s Subs, Red Lobster, Mission BBQ, TGI Fridays, and Bob Evans. The 1,985 SF BIBIBOP will offer customers fast and healthy food options for dine-in, delivery, to-go orders, and catering services. Larry Klein, Senior Executive Director, at Goodman Real Estate Services Group LLC, represented the landlord in this transaction.
 
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Costar Powerbroker Award Winners for Q2 & Q3 Zack Sogoloff, Seth Marks, and Rob Yaskanich

The CoStar Power Broker Quarterly Deals Award recognizes commercial real estate's top deals made by brokers in each quarter.
 
Three of Goodman's agents were recipients of the CoStar Power Broker Quarterly Deals Award in Quarter 2 and Quarter 3 of 2021.
 
Zack Sogoloff, Senior Vice President at Goodman Real Estate Services Group LLC and Seth Marks, Senior Associate at Goodman Real Estate Services Group LLC were awarded a Top Retail Leasing Deals Award in Quarter 2 for brokering the Lowe's 20-year lease extension in Mentor, Ohio. Zack and Seth represented the landlord in this transaction.
 
Rob Yaskanich, Senior Director at Goodman Real Estate Services Group LLC, was awarded a Top Retail Leasing Deals Award in Quarter 3 for leasing 3,461 SF to Dave's Hot Chicken in Lakewood, Ohio. Rob represented the landlord in this transaction.  
 
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Landlord Feature: Wald & Fisher Inc.

Wald & Fisher, Inc., is a multi-generational, family-owned and operated real estate development company located in Beachwood, Ohio. The company began serving the real estate needs of Cleveland-area residential neighborhoods until post-war opportunities led to the acquisition and development of apartment complexes, office buildings, and shopping centers. Today, Wald & Fisher’s portfolio of self-developed properties exceeds 1,000,000 square feet and includes some of the most well-known shopping centers in Greater Cleveland. The Greens of Strongsville (Target, Heinen’s, and T.J.Maxx), The Greens of Lyndhurst (Applebee’s, Fifth Third Bank and Sam Ash), and River Square (Whole Foods) are among their most notable assets. Since 2000, they have been growing outside of Northeast Ohio and currently have properties in Dayton, OH; Augusta, GA; Winston-Salem, NC; and Raleigh-Durham, NC. 
 
Currently, Wald and Fisher, Inc., is developing Pearl Plaza with three new drive-thru anchored, multi-tenant retail buildings and one NEW anchor opportunity. Preliminary site plan approval has been received from the City for the property which is located at 6850 Pearl Road in Middleburg Heights, Ohio. 
For over 20 years, Zack Sogoloff, SVP at Goodman Real Estate Services Group LLC, has worked with Wald & Fisher, Inc., on portions of their portfolio. Today, Zack and Seth Marks, Senior Associate at Goodman Real Estate Services Group LLC, serve as the leasing team for Wald & Fisher’s impressive real estate portfolio. 
 
“Zack and his team have been great partners to Wald & Fisher over the past 20 years and have played an important role in the continued success of our portfolio.
While their market knowledge is second to none, it is the time they take to achieve a detailed understanding of each property that allows for a streamlined deal making / tenant retention process.
We appreciate their dedication to the long-term health of our portfolio, and they are consistently willing to “make the right decision" by viewing them through the property owner’s perspective.”
 
-Marc Glick, Director of Leasing at Wald & Fisher, Inc.
 
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JUST CLOSED: Morgantown Commons

Goodman Investment Group is pleased to announce the sale of Morgantown Commons in Morgantown, West Virginia. This is the third shopping center sale for a repeat client, Rural King. The 100% leased, nationally anchored shopping center was sold to a private west-coast based investor for 98% of list price. Morgantown Commons, with a vacant Kmart box that was still paying rent, was purchased by Rural King for a brand-new store to add to the thriving retail market.
 
Prior to marketing the property for disposition, Randy Goodman, Alex Justice and Bobby Benjamin were able to lease a 44,620 SF vacancy (32% of the GLA) to Goodwill on a brand new 12-year lease. Additionally, Randy and Alex were able to work on behalf of Rural King, in conjunction with local broker Petroplus & Associates, to extend the leases of the current tenants, adding long-term value to the shopping center.
 
To learn more about the sale, please contact Kyle Hartung, Director of Investment Sales, at This email address is being protected from spambots. You need JavaScript enabled to view it.
 
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Project In Progress: Aldi Coming Soon

Tremont Plaza in Upper Arlington, Ohio is getting a new anchor and façade. Aldi will fill the 18,084 SF former Barnes & Noble Bookstore and will join existing retailers CVS Pharmacy and Panera Bread at the center. Tremont Plaza is prominently located at the intersection of Tremont Road, Northwest Boulevard and Fishinger Road.
 
Tremont Plaza is now fully leased. Zachary Sogoloff, Senior Vice President; and Seth Marks, Senior Associate; at Goodman Real Estate Services Group LLC, represented the landlord in this transaction. Cardinal Commercial Real Estate, represented Aldi in this transaction.
 
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Coming to Ohio - Dave's Hot Chicken

Los Angeles-based restaurant, Dave’s Hot Chicken, will be landing new locations in Ohio with the help of Goodman Real Estate Services Group LLC. Out-of-state restaurant franchises have been looking to Ohio and surrounding Midwest states to expand and create new opportunities for growth. Dave’s Hot Chicken is actively looking to open 28 locations in the Midwest, with plans for 15 locations in Indiana, and 13 in Columbus, Ohio.
 
Goodman Real Estate agents Daniel Clark, Vice President and Manager, Columbus Office; and Chad Hamrick, Senior Director, Columbus Office, have been assisting the Dave Diggity LLC franchisee in finding prime tenant space in the Columbus area. The Nashville-style restaurant was started by best friends Dave Kopushyan, Arman Oganesyan, and Tommy and Gary Rubenyan in an East Hollywood parking lot in 2017. Since then, they have perfected their hot chicken recipe to satisfy customers in California, Toronto, Oregon, Nevada, Colorado, Texas, and soon Ohio and Indiana. They specialize in mouthwatering hot-chicken sandwiches and tenders, along with homemade sides and secret sauce. Already secured Dave’s Hot Chicken locations in Columbus are anticipated to open as soon as late 2021 or early 2022. For leasing opportunities and more information on remaining space please contact Daniel Clark at This email address is being protected from spambots. You need JavaScript enabled to view it. or Chad Hamrick at This email address is being protected from spambots. You need JavaScript enabled to view it..
 
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Landlord Spotlight: Zeisler Morgan Properties Ltd.

Zeisler Morgan Properties Ltd. is a privately-owned, full-service shopping center development company headquartered in Cleveland, Ohio. Ridge Park Square, a 564,000 SF shopping center with approximately 50 tenants, is among their most notable assets.
 
For seven years, Goodman Real Estate Services Group LLC agents, Zack Sogoloff and Seth Marks, have served as the leasing team for Zeisler Morgan’s 900,000 SF, Class A shopping center portfolio in Northeast Ohio. Bi-weekly meetings, monthly leasing reports, premier marketing tactics, and strong communication with all parties have been the backbone of this relationship. Zack and Seth work directly with Goodman's marketing team to attract best-in-class tenants and ensure that all properties within the Zeisler Morgan's portfolio maintain high occupancy levels. This process has created numerous successful tenants, which include Ross Dress For Less, Starbucks, Bank of America, Chase Bank, Dollar Tree, Taco Bell, Five Guys, and more.
 
"ZM’s relationship with Goodman is in its 7th year now which says a lot about how we have found an excellent formula for working together as a unified team. Above all else, it is Goodman’s knowledge, experience, and client focus, that we value the most."
-Shannon Blackwell, President & Chief Operating Officer at Zeisler Morgan
 
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Goodman Real Estate Introduces Lease Renewal and Restructuring Program

Many tenants today do not have the staff, time, or industry insight to concentrate on lease renewals or restructurings. For our clients, we provide thorough analysis of their leases and offer strategy and advice to develop and achieve short-range solutions or long-range real estate planning.
 
Businesses needs change over time. We educate ourselves on our customers' current requirements and advocate on their behalves with their landlords to effectuate the change required by their current business model.
 
Whether it’s restructuring leases for savings, securing capital for improvements, lengthening terms, handling dispositions, or solving other problems, we have the industry knowledge and expertise to offer tenants comprehensive guidance on their leased property.
 
To learn more about our lease renewal and restructuring program, please contact Larry Klein at 216-381-8200 and at This email address is being protected from spambots. You need JavaScript enabled to view it..
 
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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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The Greens of Lyndhurst - Berg’s Baby & Teen Furniture Celebrates Centennial

Berg’s Baby & Teen Furniture celebrates centennial

Berg's Baby & Teen Furniture is located at The Greens of Lyndhurst on Mayfield Road. There are current spaces available at The Greens of Lyndhurst to join this well known and established business. For current opportunities, contact Zachary Sogoloff or Seth Marks.

 

Link to full article

 

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Starbucks NOW OPEN in Groveport, Ohio

Starbucks is NOW OPEN in Groveport, Ohio! Located at 3850 S Hamilton Road, Starbucks is in the new Hamilton Road retail development, joining Rally's, and Pizza Hut "coming soon".

2,380 SF endcap with patio is currently remaining. For additional opportunities in the Hamilton Road retail development, contact Daniel Clark or Jessica Sonders.

Retail Development information: https://lnkd.in/dCZU-Mc

#cre #commercialrealestate #goodmanre #starbucks #nowopen #GroveportOhio #GroveportOH #restaurants #restaurantnews #restaurantindustry #hospitality #realestate #development

 

 

 

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Earth Fare Now Open at The Venue at Belden

Earth Fare reopens at The Venue at Belden!
 
The supermarket closed all of its locations in February 2020. A team of current and past Earth Fare professionals reclaimed the brand and revitalized the top-performing stores. Due to its prior success in the market, the Earth Fare in Canton, Ohio, reopened in December 2020.
 
Earth Fare rejoins T.J.Maxx, HomeGoods, Kirkland’s and more at The Venue at Belden. The shopping center is situated directly across the highway from Belden Village Mall and has excellent visibility and access to I-77. Randy Goodman, President at Goodman Real Estate Services Group LLC, represented the landlord in this transaction.
 
To join Earth Fare at The Venue at Belden, contact Randy Goodman for current opportunities.
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
 
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Real Estate Partner: PNC Bank

Today, banks recognize that branches are a high-cost distribution channel. The banks strategically look for ways to consolidate their branch locations that provide the least amount of customer disruption.
 
PNC recently announced that they will close several more branches in their portfolio. Due to the effects of the coronavirus, more consumers are turning to digital banking. Many customers are visiting branches less often due to the availability of technology. The banks hope to see that their digital sales compensate for the loss of the brick and mortar locations.
 
Goodman Real Estate Services Group LLC has worked as an outsourced real estate partner with PNC Bank since 2013 and has completed more than 15 transactions. Our responsibilities include negotiating leases for remote ATMs and the sale of PNC-owned bank branches as well as the sub-leasing of surplus properties and lease terminations.
 
For more information, please contact Steve Altemare.
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Smoothie King Now Open in Painesville, Ohio

Smoothie King is NOW OPEN at 1188 Mentor Avenue in Painesville, Ohio!
Zack Sogoloff, Senior Vice President; and Seth Marks, Senior Associate at Goodman Real Estate Services Group LLC, represented the landlord in this transaction.
 
Hours of Operation:
Monday - Friday: 6:30 a - 9 pm
Saturday: 8 a - 9 pm
Sunday: 10 a - 8 pm
 
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Anytime Fitness NOW OPEN in Cambridge, Ohio

Anytime Fitness is NOW OPEN in Cambridge, Ohio. Located in Parkway Plaza, Anytime Fitness joins other major retailers and restaurants including Rural King (coming soon), Starbucks, Chipotle, Great Clips, Dollar Tree, Cato, Taco Bell, Burger King, Walmart, Aldi, Curves, Buffalo Wild Wings, Arby’s, Tractor Supply Co, and more!

Congratulations Anytime Fitness on your new location!

For other opportunities is Parkway Plaza, contact Randy Goodman at Goodman Real Estate Services Group LLC.


#cre #commercialrealestate #goodmanre #anytimefitness #CambridgeOhio #retailnews #retail #retailrealestate #nowopen
 
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Be Thankful!

During this holiday season and as we approach the end of the new year, we want to thank all of you, our clients, colleagues, friends, and customers. You have helped make Goodman Real Estate Services Group successful by working with us this year and, for many of you, throughout the past 22 years. It is gratifying that you have continued to place your trust in our team, and we truly appreciate the opportunity to work with each and every one of you. Thank you!

We say this every year, but it's more applicable this year given the pandemic that we are all struggling to survive. In the rush and excitement surrounding the holidays, we need to pause to remember those individuals, especially the children, who are less fortunate and rely on charitable organizations to provide them with essentials, such as food, educational supplies and resources, clothing, and shelter. In consideration of these individuals and promotional organizations, in lieu of material gifts this holiday season, Goodman Real Estate Services Group has chosen to make monetary donations to over 40 organizations.

On behalf of our team at Goodman Real Estate Services Group, we wish you and your loved ones a joyful holiday season and a healthy and prosperous 2021.

Sincerely,

The Goodman Real Estate Services Group Team

 

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Slim Chickens to open more than 50 locations in 2021

Slim Chickens Inked Agreements to Open 150 Units // QSRmagazine.com

 

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Mentor, OH - Heisley Pointe Transformation - From Construction to Completion

December 10, 2020 ---- What once was a vacant discount bookstore on the corner of Heisley Road and Mentor Avenue, is now a beautiful, newly redeveloped, multi-tenant pad building with large modern facades and a new street-side monument sign. Heisley Pointe is now home to Starbucks, Beyond Juicery + Eatery, Penn Station East Coast Subs, and many other retailers.

Rick Ferris, owner of Heisley Pointe shopping center, reached out to Zack Sogoloff, Senior Vice President, and Seth Marks, Senior Associate at Goodman Real Estate Services Group, to discuss ideas and potential values for his center. Zack and Seth’s first move was to replace the defaulting Ruku’s restaurant with a concept that would bring different customers to the center.  The duo found a modern, healthy, meal-prep restaurant, Clean Eatz, to lease the 2,400 SF space. Clean Eatz offers meal plans, catering, and dine-in options and acts as the hub for a healthy lifestyle in the community.

Heisley Pointe is comprised of two buildings, a large 24,000 SF multi-tenant building with various local businesses that faces Heisley Road, and an 8,000 SF pad building. The intersection is shared with Walmart, Walgreens, and Speedway. Retail anchors, Meijer, Lowes, Target, and Kohl’s, are all within a one-mile radius.  

Zack and Seth then prepared the owner to invest in a massive redevelopment of the 8,000 SF bookstore pad building. The redevelopment resulted in an 8,000 SF multi-tenant space facing Mentor Avenue.

After Clean Eatz joined Heisley Pointe, the property became of high-interest to national restaurants. Starbucks and Penn Station signed leases to occupy two of the four spaces in the redeveloped building. The existing My Kids Childcare expanded its space to 4,800 SF, and American Shaman and Sequoia Realty joined the main building at the center. 

Zack and Seth's plan to convert the former bookstore pad into a modern, multi-tenant building enabled the landlord to raise the potential value of the pad building from under $800,000 to over $3,750,000. In addition to creating this value, Zack and Seth stabilized the main center, added new tenants, and helped the owner position its asset for sale. 

There is only one 2,100 SF space remaining in the newly redeveloped pad building.  Please contact Zack Sogoloff or Seth Marks for additional information on this property.

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The Newly Opened Glick's in Mattoon, IL

 
Glik's opened last month in Mattoon, Illinois! Glik's joined Rural King, Marshalls, JoAnn, JCPenney, and McQuarter's Pub at Cross County Mall, as well as The Home Depot, Walmart, AMC Theatres, PetSmart and many other retailers within close proximity to the mall. For additional opportunities at the Cross County Mall, contact Bobby Benjamin or Alex Justice.
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T.J.Maxx Coming to Alliance, Ohio

T.J.Maxx is currently under construction in Alliance, Ohio. Opening in Spring 2021, T.J.Maxx will join Dollar Tree, Verizon, Sally Beauty and Sleep Outfitters just outside Carnation City Mall at 2600 West State Street.
Randy Goodman, President, and Alex Justice, Sales and Leasing Associate at Goodman Real Estate Services Group LLC, represented T.J.Maxx in this transaction.
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Five Guys Now Open at The University of Akron!

Five Guys is NOW OPEN at the University of Akron! Located at University Edge, a retail and housing development across from The University of Akron, Five Guys joins other quick service restaurants, including Chipotle, Arby's, Penn Station, and more. Zachary Sogoloff, Senior Vice President, and Seth Marks, Senior Associate, with Goodman Real Estate Services Group, represented the landlord in this transaction. Richard Edelman, Senior Vice President/Principal of Goodman Real Estate Services Group LLC, represented Five Guys in this transaction.

 

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Goodman Real Estate is a Top Broker in 2020

Goodman Real Estate made the Best of the Best 2020 Top Brokers Midwest Real Estate News list! Very proud of our team and our accomplishments this year!

 

Best of the Best 2020 Top Brokers // Midwest Real Estate News 

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MISSION BBQ Grand Opening in Boardman, Ohio

MISSION BBQ is NOW OPEN at 1051 Boardman Poland Road in Boardman, Ohio. Check out these moments from the grand opening!
Richard Edelman, Senior Vice President/Principal at Goodman Real Estate Services Group LLC represented MISSION BBQ in this transaction.
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Earth Fare Plans Return to The Venue

Earth Fare plans return to The Venue // CantonRep.com

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The Great Greek Mediterranean Grill to Join Westwood Town Center

COMING SOON... The Great Greek Mediterranean Grill will be joining Westwood Town Center in Rocky River September 2020.
For more opportunities in Westwood Town Center, contact Zachary Sogoloff or Seth Marks.
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New Starbucks Making Great Progress at Ridge Park Square!

The new Starbucks location in Ridge Park Square is making great progress! Located in Brooklyn, Ohio, Starbucks will join Lowe’s, Marc’s, Ashley HomeStore, AMC, TJ Maxx, Bed Bath & Beyond, Michaels, Ross and other retailers soon! For additional opportunities in Ridge Park Square, contact Zachary Sogoloff or Seth Marks.
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Client Spotlight: First Watch

First Watch, The Daytime Cafe, is making waves in the industry in the eyes of not only their customers but also the community, as well. Their new location and commitment to end child hunger is giving us plenty to be thankful for this season. 

The Florida-based company is known as the Daytime Café because of its limited hours and commitment to serving the highest quality breakfast, brunch and lunch from 7 a.m. to 2:30 p.m. The concept first opened in 1983 by John Sullivan and Ken Pendery, who currently holds the chairman position within the company. 

A new location just opened in Belden Village, the restaurant company’s 10th in the Cleveland-Akron area, on September 30th. This new location is First Watch’s first stand-alone restaurant locally, residing in a space once occupied by The Rustic Barrel. The cafes have historically been situated within strip centers. The new First Watch will employ 30 to 40 people with seating for 200.

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Client Spotlight: TJX Companies

Discount retailer, Zayre Corp, was responsible for the opening of the first two T.J.Maxx stores in the U.S. in 1977, which were both located in Massachusetts. T.J.Maxx was considered an off-price store, which was different from a traditional discount store because a retailer buys merchandise from manufacturers that have excess inventory and negotiates prices below wholesale. By the late 1980s, Zayre Corp was reconstructed and formed three brands – T.J.Maxx, Hit or Miss, and Chadwick’s of Boston. These stores were the initial brands that would eventually become The TJX Companies. Today, the retail giant encompasses T.J.Maxx, Marshalls, HomeGoods, HomeSense, Sierra, Winners, and T.K.Maxx.

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Experiment Retail in an Instagrammable Age

Experiment retail is somewhat of a new term that gives reason to why customers should visit a brick and mortar.

The fate of brick and mortar has been a hot topic for years but one thing is for certain: There is opportunity for stores to create experiences where customers want to come in – opportunities that online shopping cannot provide.

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Client Spotlight: The Home Depot

The prominent orange that covers the massive store fronts of The Home Depot stores across the world began as the idea of two DIYers who wanted to help people create the homes of their dreams.

Bernie Marcus and Arthur Blank talked up the idea of creating a space where shoppers could come in, find supplies and tools they needed, and receive knowledge from trained associates eager to help. They imagined a store where not only could you find everything you needed for your next project in one place, but also somewhere customers could learn how to do the project from a knowledgeable staff.

That vision became a reality in 1979, when the first two Home Depot stores were built in Atlanta, Georgia. The company then went public in 1981.

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Restaurants & Retail Leading the Way for a More Sustainable Future

To honor Earth Day this year, we’re taking  a look at how the day came to be and how certain restaurants and food-related retailers are making strides to adapt and become more eco-friendly.

Earth Day is celebrated on April 22 of each year and began as the modern environment movement in 1970. During a time in America when leaded gas, industrial building smoke stacks, and air pollution were not highly contested, the first Earth Day was introduced by Gaylord Nelson, then a U.S. Senator from Wisconsin, who witnessed the devastating effects of the 1969 oil spill in Santa Barbara, California. His goal was to enforce environmental protection into the national political agenda. By the end of 1970, that first Earth Day led to the creation of the United States Environmental Protection Agency and the passage of the Clean Air, Clean Water, and Endangered Species Acts. By 1990, Earth Day went global and encouraged those around the world to participate in a day that put environmental consciousness on the forefront. While much has been done to protect the Earth since 1970, issues such as global warming and plastic pollution in our oceans have forced changes in the consumer experience.

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What's Next for Empty Big Boxes?

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.

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The New ‘Chick’ On the Block is Already Making an Impact in the Community


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 10th, 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.

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