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Single-Tenant Retail Not Slowing Down
You are here: Home > Opinions & Columnists > Counter Culture > Single-Tenant Retail Not Slowing Down COUNTER CULTURE Last Updated: May 28, 2014 12:13pm ET Single-Tenant Retail Not Slowing Down By Ian Ritter | National LAS VEGAS—Irvine, CA-based Hanley Investment Group is one of the firms at the forefront of single-tenant retail investment in the U.S. Eric Wohl, President of HIG NNN, the single-tenant net-lease division of Hanley Investment Group, told us about some of the trends he sees in this hot area of retail. He shares the tenants making headway in this sector, the types of investors interested in these assets, the triple-net-lease lending picture and what he's seeing at this year's RECon event. GlobeSt.com: A lot of people consider multi-family and retail the hottest sectors in commercial real estate investment. Are you in agreement? Wohl: If you compare multi-family to the net-lease market, they’re both extremely hot right now. In the commercial real estate world, aside from apartments, single-tenant retail is definitely the commercial sector with the most activity. Net-lease cap rates have compressed in some instances up to 100 basis points over the past 12 months as investors are finally getting off the fence and deploying their capital. They’ve been sitting on the sidelines for the past two or three years, waiting for the right time, and now they are increasingly jumping into a market with limited supply creating a strong pent-up demand for this product type. GlobeSt.com: What tenants and buyers are driving the increased activity? Wohl: Many of the REITs are starting to open themselves up to non-investment-grade tenants due to increased cap rate compression of core tenants such as Walgreens, CVS, O’Reilly Auto Parts, and AutoZone. -
Expansion Guide North America / Summer 2016
Retail & Restaurant Expansion Guide North America / Summer 2016 interactive menu click to get started INTRODUCTION ICSC PERSPECTIVE APPAREL ENTERTAINMENT ARTS / CRAFTS / HOBBIES FINANCIAL SERVICES AUTOMOTIVE FOOD-RELATED BEER / LIQUOR / WINE GROCERY BOOKS / MEDIA / TOYS HEALTH AND BEAUTY CARDS / GIFTS / NOVELTY HOME-RELATED CHILDCARE / LEARNING CENTERS JEWELRY CONSUMER ELECTRONICS MISCELLANEOUS RETAIL DEPARTMENT STORE PETS / PETCARE DISCOUNTERS / SUPERSTORES RESTAURANTS DRUG STORE / PHARMACY SPORTING GOODS North American Retail & Restaurant Expansion Guide Summer 2016 INTRODUCTION Welcome to the inaugural edition of the Cushman & Wakefield North American Retailer and Restaurant Expansion Guide In this report, we track the growth plans of thousands of major retail and restaurant chains and public statements made by company executives, and reliable “word on the street” throughout the United States and Canada. This is not your typical retail research report gathered from the retail and brokerage communities. Additionally, in cases where we were in that the purpose of the Expansion Guide is not to create hard metrics or to provide either unable to obtain reliable data or where we received questionable information, we numbers-driven statistical analysis. Certainly, our tracking of such data heavily informs provided our own estimates of current unit counts and likely growth in the year ahead. our standard research efforts from our quarterly reports to white papers on special topics. These estimates were based upon a mix of factors, including recent growth history and But the ultimate goal of this publication is to provide a glimpse of likely growth over the sector health. coming year across all of the major retail sectors from a mix of various concepts as we know or understand them. -
Pet Store Industry Trends & Leader Quotes
Pet Store Industry Trends & Leader Quotes When faced with legislation that would prohibit pet stores from selling commercially raised puppies and kittens, puppy-selling pet store owners and lobbyists argue the policy would put them out of business. Yet, they also admit only 4% of Americans obtain pets from pet stores and their own industry repeatedly points to the fact that a products and services model is the key to pet retail success. According to the American Pet Products Association: • Americans spent $103 billion on their pets in 2020 with pet food, products, and services dominating. • Dog and cat sales were excluded for the second year because they are a “relatively small contributor to overall sales” and are “typically obtained outside of the retail pet channel.” • Despite the challenges of the pandemic, “pet specialty and independent retailers experienced solid growth in 2020.” • Stores added services like boarding, grooming, insurance, training, pet sitting and walking services to have an edge over online retailers. According to Pet Business Magazine, of the top 25 pet retailers in North America only one sells puppies, and that chain (Petland) has moved down the list. Despite the challenges of the COVID-19 pandemic, “the pet industry’s biggest retail chains continued to thrive by leveraging their unique strengths while developing new channels to reach consumers.” In fact, more than half of the top retailers expanded in 2020. According to Ex-Parthenon, one of the largest consulting organizations in the world, the pet store industry has become “a potentially explosive market” as Americans are increasingly spending more on fancy food, treats, clothing, and premium services, and 78% of people prefer to shop for their pets in brick-and-mortar stores. -
Case Study: Petsmart Searches for a Sustainable Strategy David Brennan University of St
University of St. Thomas, Minnesota UST Research Online Marketing Faculty Publications Marketing 2013 Case study: PetSmart searches for a sustainable strategy David Brennan University of St. Thomas, Minnesota, [email protected] Follow this and additional works at: http://ir.stthomas.edu/ocbmktgpub Part of the Marketing Commons Recommended Citation Brennan, David, "Case study: PetSmart searches for a sustainable strategy" (2013). Marketing Faculty Publications. 30. http://ir.stthomas.edu/ocbmktgpub/30 This Article is brought to you for free and open access by the Marketing at UST Research Online. It has been accepted for inclusion in Marketing Faculty Publications by an authorized administrator of UST Research Online. For more information, please contact [email protected]. PetSmart Searches for a Sustainable Strategy Abstract This case details a PetSmart’s struggle to find a sustainable strategy. It was started as a “big box” pet specialty category killer store in 1986. It went public in 1993 and rapidly expanded through acquisition. It focused on product variety and price which put it in direct competition with mass merchants, especially discounters and wholesale clubs. Loses in the 1990s led the company to hire Philip Francis to turn the operation around. As a result of restructuring dictated by Mr. Francis, PetSmart became profitable. Its supply chain was improved by adding distribution centers, standardizing and down-sizing stores, improving product quality, increasing services offered, moving away from a low price orientation, and developing a customer and pet friendly in-store experience. Robert Moran took over leadership of PetSmart in 2009. His emphasis has been on realizing the humanization of pets as members of the family, focusing on PetSmart’s target market, increasing store productivity, and adding new stores more slowly. -
February 16, 2021 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in T
February 16, 2021 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community commend the swift actions you and your peers across the country are taking to protect human health and reduce the current surge in COVID-19 infection cases. As you take these critical steps to control the spread of the disease, including again directing business closures, we urge you to continue to take into account the well-being of the pets and other animals loved and cared for by the citizens in your communities. Nearly 85 million American households own at least one pet, and 95% of pet owners consider their pets to be part of the family, according to the 2019-2020 American Pet Products Association National Pet Owners Survey. As the population faces the ongoing effects of the pandemic, including mental stress and prolonged social isolation, many people turn to their pets for comfort and companionship. The ranks of pet owners have also swelled as unprecedented numbers of people welcomed new pets into their lives over the past months. It is vital that businesses that provide the products, services or housing necessary for pet care, and the pets themselves, are included among the critical infrastructure that is allowed to remain open. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies, and businesses that offer veterinary, boarding and grooming services, must remain operational to ensure the continued humane care of companion animals. Pet stores supply nearly one-third of all dog and cat food; that number is much higher for food required for pets like small mammals, reptiles and fish. -
March 18, 2020
March 18, 2020 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community are extremely concerned by the threat to human health posed by the rapidly evolving coronavirus pandemic, and commend the swift actions you and your peers across the country are taking to safeguard the population. As you take defensive steps by directing event cancellations and facility closures in order to create social distances that will help control the spread of disease, we urge you to also consider the well-being of the pets and other animals loved by the citizens in your communities. According to the 2019-2020 APPA National Pet Owners Survey, 67% of American households (84.9 million) own at least one pet. 95% of pet owners consider their pets to be part of the family. It is vital that businesses that provide products or services for the care of pets, and those that house animals, are included among the critical infrastructure that is allowed to remain open throughout the crisis. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies and businesses that offer veterinary and boarding services must remain operational to ensure the continued humane care of animals. Pet stores supply nearly one-third of all dog and cat food needed by the pet-owning population; that number is much higher for food required by other pets like small mammals, reptiles and fish. Grocery stores that may be allowed to remain open generally only offer limited pet food options and they don’t always have the specialized food, supplements and even medication that are required to maintain the health of millions of beloved pets and animals nationwide—nor are they set up logistically to serve ALL pets in this country. -
April 27, 2020 Open Letter to Federal, State & Local Government Officials
April 27, 2020 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community are extremely concerned by the threat to human health posed by the rapidly evolving coronavirus pandemic, and commend the swift actions you and your peers across the country are taking to safeguard the population. As you take defensive steps by directing event cancellations and facility closures in order to create social distances that will help control the spread of disease, we urge you to also consider the well-being of the pets and other animals loved by the citizens in your communities. According to the 2019-2020 APPA National Pet Owners Survey, 67% of American households (84.9 million) own at least one pet. 95% of pet owners consider their pets to be part of the family. It is vital that businesses that provide products or services for the care of pets, and those that house animals, are included among the critical infrastructure that is allowed to remain open throughout the crisis. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies and businesses that offer veterinary and boarding services must remain operational to ensure the continued humane care of animals. Pet stores supply nearly one-third of all dog and cat food needed by the pet-owning population; that number is much higher for food required by other pets like small mammals, reptiles and fish. Grocery stores that may be allowed to remain open generally only offer limited pet food options and they don’t always have the specialized food, supplements and even medication that are required to maintain the health of millions of beloved pets and animals nationwide—nor are they set up logistically to serve ALL pets in this country. -
March 18, 2020 Open Letter to Federal, State & Local Government
March 18, 2020 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community are extremely concerned by the threat to human health posed by the rapidly evolving coronavirus pandemic, and commend the swift actions you and your peers across the country are taking to safeguard the population. As you take defensive steps by directing event cancellations and facility closures in order to create social distances that will help control the spread of disease, we urge you to also consider the well-being of the pets and other animals loved by the citizens in your communities. According to the 2019-2020 APPA National Pet Owners Survey, 67% of American households (84.9 million) own at least one pet. 95% of pet owners consider their pets to be part of the family. It is vital that businesses that provide products or services for the care of pets, and those that house animals, are included among the critical infrastructure that is allowed to remain open throughout the crisis. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies and businesses that offer veterinary and boarding services must remain operational to ensure the continued humane care of animals. Pet stores supply nearly one-third of all dog and cat food needed by the pet-owning population; that number is much higher for food required by other pets like small mammals, reptiles and fish. Grocery stores that may be allowed to remain open generally only offer limited pet food options and they don’t always have the specialized food, supplements and even medication that are required to maintain the health of millions of beloved pets and animals nationwide—nor are they set up logistically to serve ALL pets in this country. -
March 23, 2020
March 23, 2020 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community are extremely concerned by the threat to human health posed by the rapidly evolving coronavirus pandemic, and commend the swift actions you and your peers across the country are taking to safeguard the population. As you take defensive steps by directing event cancellations and facility closures in order to create social distances that will help control the spread of disease, we urge you to also consider the well-being of the pets and other animals loved by the citizens in your communities. According to the 2019-2020 APPA National Pet Owners Survey, 67% of American households (84.9 million) own at least one pet. 95% of pet owners consider their pets to be part of the family. It is vital that businesses that provide products or services for the care of pets, and those that house animals, are included among the critical infrastructure that is allowed to remain open throughout the crisis. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies and businesses that offer veterinary and boarding services must remain operational to ensure the continued humane care of animals. Pet stores supply nearly one-third of all dog and cat food needed by the pet-owning population; that number is much higher for food required by other pets like small mammals, reptiles and fish. Grocery stores that may be allowed to remain open generally only offer limited pet food options and they don’t always have the specialized food, supplements and even medication that are required to maintain the health of millions of beloved pets and animals nationwide—nor are they set up logistically to serve ALL pets in this country. -
Pets and COVID-19
March 17, 2020 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community are extremely concerned by the threat to human health posed by the rapidly evolving coronavirus pandemic, and commend the swift actions you and your peers across the country are taking to safeguard the population. As you take defensive steps by directing event cancellations and facility closures in order to create social distances that will help control the spread of disease, we urge you to also consider the well-being of the pets and other animals loved by the citizens in your communities. According to the 2019-2020 APPA National Pet Owners Survey, 67% of American households (84.9 million) own at least one pet. 95% of pet owners consider their pets to be part of the family. It is vital that businesses that provide products or services for the care of pets, and those that house animals, are included among the critical infrastructure that is allowed to remain open throughout the crisis. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies and businesses that offer veterinary and boarding services must remain operational to ensure the continued humane care of animals. Pet stores supply nearly one-third of all dog and cat food needed by the pet-owning population; that number is much higher for food required by other pets like small mammals, reptiles and fish. Grocery stores that may be allowed to remain open generally only offer limited pet food options and they don’t always have the specialized food, supplements and even medication that are required to maintain the health of millions of beloved pets and animals nationwide—nor are they set up logistically to serve ALL pets in this country. -
July 16, 2019 Dear Honorable Members of the Stamford City
July 16, 2019 Dear Honorable Members of the Stamford City Council, On behalf of the Stamford-based supporters of The Humane Society of the United States (HSUS), the largest animal protection organization in the country, please accept this letter in support of a humane pet store ordinance that will drive the pet market in Stamford towards more humane sources such as shelters, rescues, and responsible breeders, and cut off profits for cruel puppy mills by prohibiting the sale of dogs and cats in pet stores. Proposed language: 1) Definitions: a) "Pet shop" has the same meaning as provided in section 22-327 of the Connecticut general statutes; b) "Animal welfare organization" means a nonprofit organization that has: (1) Tax exempt status under section 501(c)(3) of the United States Internal Revenue Code, and (2) a mission and practice of rescuing animals and placing such animals in permanent homes. "Animal welfare organization" does not include any organization that obtains animals from a breeder or broker in exchange for payment or compensation; c) "Breeder" means any person who breeds or raises dogs to sell, exchange or otherwise transfer to the public; and d) "Broker" means any person who transfers dogs for resale by another person. 2) No owner or operator of a pet shop shall offer for sale, adoption, transfer or advertise the sale, barter, auction or give away of any dog, provided nothing in this section shall be construed to prohibit the owner or operator of any such pet shop from collaborating with an animal welfare organization or any municipal animal control agency to offer space for such organization or agency to display dogs available for adoption from such organization or agency. -
March 16, 2020 Open Letter to Federal, State & Local
March 16, 2020 Open Letter to Federal, State & Local Government Officials Regarding Pets and COVID-19 Precautions We in the responsible pet care community are extremely concerned by the threat to human health posed by the rapidly evolving coronavirus pandemic, and commend the swift actions you and your peers across the country are taking to safeguard the population. As you take defensive steps by directing event cancellations and facility closures in order to create social distances that will help control the spread of disease, we urge you to also consider the well-being of the pets and other animals loved by the citizens in your communities. According to the 2019-2020 APPA National Pet Owners Survey, 67% of American households (84.9 million) own at least one pet. 95% of pet owners consider their pets to be part of the family. It is vital that businesses that provide products or services for the care of pets, and those that house animals, are included among the critical infrastructure that is allowed to remain open throughout the crisis. Just as grocery stores and hospitals provide necessary sustenance and medical care to humans, pet stores that sell food, products and supplies and businesses that offer veterinary and boarding services must remain operational to ensure the continued humane care of animals. Pet stores supply nearly one-third of all dog and cat food needed by the pet-owning population; that number is much higher for food required by other pets like small mammals, reptiles and fish. Grocery stores that may be allowed to remain open generally only offer limited pet food options and they don’t always have the specialized food, supplements and even medication that are required to maintain the health of millions of beloved pets and animals nationwide—nor are they set up logistically to serve ALL pets in this country.