REAL ESTATE

Johnny Rockets expands in Mexico

BY Dan Berthiaume

Aliso Viejo, Calif. – Johnny Rockets has opened its second restaurant in Galerias Merida, Mexico. The 1,798-sq.-ft. location is situated in an upscale two-story shopping mall.

Galerias Merida is the fourth Johnny Rockets location for Johnny Rockets Guadalajara Group, who also operate three franchises in the Mexican state of Jalisco. Two additional Johnny Rockets locations are scheduled to open in Mexico later this year, one in Chihuahua and another in Mexico City.

"As proven with three other Johnny Rockets restaurants, this franchise group knows our brand, knows the markets in which they operate and have a keen sense for selecting locations with an enthusiastic customer base that is eager to embrace our signature combination of food, fun and friendliness," said John Fuller, Johnny Rockets CEO.

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REAL ESTATE

Vallarta Supermarkets opens new California store April 9

BY Dan Berthiaume

Sylmar, Calif. – A new Vallarta Supermarkets store opens in Hesperia, Calif., on April 9. The 42,000-sq.-ft. location will offer specialty departments including a bakery, full-service meat counter, fresh produce, a hot food deli (Taqueria) with in-store dining, a shuttle service and a customer service department that offers check cashing, money transfers and utility bill payments.

"We are excited to open another store in San Bernardino County,” said Tony Hernandez, director of marketing for Vallarta Supermarkets. “Along with our Victorville location, the new Hesperia store will bring much needed economic activity to the region. Our new location is creating about 230 new jobs in Hesperia.”

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Plaza Retail REIT plans six Canadian retail projects

BY Dan Berthiaume

Fredericton, Canada — Plaza Retail REIT plans six new Canadian retail projects: four new re-developments and two new ground-up development projects. Four projects are located in Quebec, one in Atlantic Canada and one in Ontario.

In all, Plaza will be investing approximately $24 million for its share of these six new projects and will add approximately 155,000-sq.-ft. to its portfolio of retail properties (at Plaza’s ownership percentage). The Ontario project and three Quebec projects are being developed with joint venture partners.

"We are pleased to be able to continue to grow by adding high quality development and re-development projects to our portfolio that are leased to Canada’s best retailers,” said Plaza’s president and CEO Michael Zakuta. “Our ability to develop new high quality projects distinguishes us from most other public real estate entities that are competing to acquire existing or finished properties. Upon completion, these properties will further diversify our asset base and allow us to continue to grow our cash flow and deliver reliable distributions to our unitholders."

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