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Starbucks To Close 250 Stores, Shrink Growth PlansStarbucks told employees Thursday it is closing 250 underperforming locations, which represents about 1% of its North American footprint.
Representative imageStarbucks to Close 250 North American Stores Amid Massive OverhaulThe “Back to Starbucks” overhaul isn’t over yet. Seattle-based coffee giant Starbucks announced Thursday that it will close 250 stores across North America this week in its second round of mass closures since Brian Niccol took over as chairman and CEO in 2024.
Representative imageRealSource Group Negotiates $5.8M Sale of Restaurant Building in Richmond, TexasRICHMOND, TEXAS — California-based brokerage firm RealSource Group has negotiated the $5.8 million sale of a 3,072-square-foot restaurant building in Richmond, a southwestern suburb of Houston.
SRS Closes 1031 Deal for New-Construction Chick-fil-ASRS Real Estate Partners completed the $4.72-million ground lease sale of a Chick-fil-A property located at 560 W. Shaw Ave. in Clovis. Situated on 2.19 acres, the 4,847-square-foot property was developed in 2026 and has a 15-year, absolute triple net ground lease in place.
McDonald's Unveils $8.5B Plan To Accelerate Restaurant ImprovementsWith the McDonald's > NEXT strategy, the fast food titan plans to provide $8.5B in partnering support through 2036, including about $5B through 2030.
Karahan Cos. Inks Deals With Seven New Tenants at Frisco Mixed-Use DevelopmentFRISCO, TEXAS — The Karahan Cos. has inked deals with seven new retailers and restaurants at Fields West, a 55-acre mixed-use development located north of Dallas in Frisco. The tenants include Boll & Branch, Evereve, Flower Child, lululemon, SusieCakes, Tecovas and Warby Parker.
Pegasus Completes Project Management for Two LA Retail DevelopmentsPegasus has completed project management engagements for two prominent retail developments: Raising Cane’s first location within the City of Los Angeles (Westwood Village) and a new Honey Baked Ham franchise in Sherman Oaks.
Friedman’s Restaurant Expands with Upper West Side LocationLee & Associates NYC announced that the ownership group behind Friedman’s Restaurant, Pastrami Queen and many other successful restaurant concepts has acquired an approximately 5,000-square-foot retail cooperative unit at 541-555 Amsterdam Ave.
Apartments Kick Off New Era Of Mixed-Use Activity In Philly Navy YardA 614-unit complex delivered in March and is now 40% leased, according to the developer, Brad Korman, who said the project has also secured restaurant tenants.
16K SF Restaurant, Event Space Opens At 5POP Office: The Houston Deal SheetThis week in Houston real estate news, Mack Allen's 16K SF restaurant and event space opens at 5POP, The Woodlands office building trades, and more.
Mesa Expected to Okay $3B Legacy Park ProjectThe Mesa City Council is expected to move ahead Monday on a $3 billion venture that will include hospitality, apartments, office and restaurant offerings. Vestar will be helming the project.
Pickleball Concept Will Make California Debut with Lewis Retail CentersLewis Retail Centers, a division of Lewis Group of Companies, said Wednesday that construction has commenced on Electric Pickle, a chef-driven restaurant, bar and pickleball social house concept at The Resort in Rancho Cucamonga.
Friedman’s Restaurant Ownership Buys Upper West Side Retail Space to Open New SpotThe ownership group behind famed New York City restaurants Friedman’s Restaurant and Pastrami Queen has acquired a retail co-op on Manhattan’s Upper West Side to open a new eatery, Commercial Observer has learned.
Hibachi Eatery Bijin Omakase Signs 5K-SF Lease in Long Island CityA hibachi restaurant is igniting the burner in Long Island City, Queens.
Dongbei Chinese Restaurant & Bar Inks Deal at 63 Cooper SquareDongbei Chinese Restaurant & Bar is opening its fourth location in New York City and its fifth overall, Commercial Observer has learned.
Seafood Restaurant Crab House Takes 7K SF at 11 East 13th StreetIt’s the catch of the day! All-you-can-eat seafood chain Crab House has secured its fourth New York City location at 11 East 13th Street in Manhattan’s Greenwich Village neighborhood, Commercial Observer has learned.
Prosper Developer Planning $240M Mixed-Use ProjectDeveloper Naseem Shaik is moving forward on a $240 million Prosper project that will include a hotel, offices, retail and restaurants. No multifamily is planned at the time. Dubbed Bella Prosper, it will sit on 61 acres with a large manmade lake in the middle.
Value Defines Success for Dining Industry in 2026Value has become a defining theme across the dining industry, yet the definition of value can vary across the sector’s diverse restaurant categories and for individual brands, Placer.ai says in a new white paper.
Taconic, NREA Add Premium Indian Restaurant to Hell’s Kitchen Mixed-UseTaconic Partners and National Real Estate Advisors have signed a lease with Samudhra at The Ellery, a luxury mixed-use residential development at 312 W. 43rd St. in Hell’s Kitchen.
Indian Restaurant Samudhra Takes 10K SF at 312 West 43rd StreetNew Jersey-based Indian restaurant Samudhra is establishing a presence across the Hudson River in Hell’s Kitchen.