REAL ESTATE

Sembler announces April lease transactions

BY CSA STAFF

St. Petersburg, Fla. The Sembler Co. said it signed nearly 17,000 sq. ft. of retail during the month of April.

Transactions included 2,000 sq. ft. to Massage Envy at Winter Garden Village in Winter Garden, Fla.; 4,650 sq. ft. to All in One Gifts at University Plaza Tampa in Tampa, Fla.; and 1,400 sq. ft. to GameStop at Edgewood Retail District in Atlanta.

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REAL ESTATE

McDonald’s to remodel 400 to 500 locations

BY CSA STAFF

New York City McDonald’s plans to remodel 400 to 500 McDonald’s locations across the country in 2010, Nation’s Restaurant News reported. The plan is to focus on higher-volume locations where the land is owned or the lease has significant time remaining.

At McDonald’s shareholder meeting last Thursday, chief executive Jim Skinner said the brand’s reimaging efforts would be a major initiative this year.

“Our restaurants are the heart of our business,” Skinner said. “We’re going to send a strong signal that McDonald’s is relevant. Our research tells us that reimaging benefits all [of] our brand attributes, from the quality of the food to the friendliness of the crew. We’re allocating nearly $1 billion [to the effort], and our owner-operators are contributing as well.”

The remodels are being done in partnership between corporate and franchise operators. The corporate office is contributing an estimated $150,000 to $200,000 and franchisees are covering the estimated difference of $250,000 to $500,000, depending on the design.

Franchisees have been given flexibility to customize their design within certain parameters to reflect the nuances of their communities, said Danya Proud, a McDonald’s spokeswoman.

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REAL ESTATE

Big Lots expands in Alabama

BY CSA STAFF

Birmingham, Ala. Big Lots is gearing up to open a store at Brook Highland, Ala., next week.

The 22,100-sq.-ft. space is one of 80 that Big Lots plans to open this year.

This will be the fourth Big Lots in the Birmingham area. The company operates more than 1,350 stores in 47 states.

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