Retail Market Blog - Eagle Development Group

Eagle Development and Hoffman United featured in Shopping Center Business

10/11/2024

Eagle Development and Hoffman United are proud to be featured in the October edition of Shopping Center Business for our groundbreaking in Elgin, SC (Spears Creek)!

Read more HERE

Read the full October edition of Shopping Center Business HERE

Project progress updates will be posted on our Spears Creek page

Firehouse Subs Celebrates Grand Opening of Newport Location

8/20/2024

Newport, TN– The wait is over! Firehouse Subs has officially opened its doors in Newport, bringing its signature subs and commitment to community service to the area. The new location at 825 Cosby Hwy welcomed its first customers on June 10th, marking an exciting milestone for both Firehouse Subs and the Newport community.

The grand opening event was a celebration of the brand’s expansion into the region. Local residents, community leaders, and Firehouse Subs enthusiasts gathered to enjoy the fresh, hearty sandwiches that have made Firehouse Subs a beloved national brand.

In keeping with Firehouse Subs' tradition of giving back, a portion of the proceeds from the grand opening day sales was donated to the Firehouse Subs Public Safety Foundation. This donation will support local first responders by providing essential life-saving equipment, a core mission of the Foundation since its inception.

The Newport location, designed to offer a warm and inviting atmosphere, features the chain's signature décor, inspired by the founding family's background in firefighting. Guests can enjoy a variety of hot specialty subs, including the famous Hook & Ladder® and the Smokehouse Beef & Cheddar Brisket®, as well as freshly made salads, sides, and beverages.

The new Firehouse Subs in Newport is now open for dine-in, takeout, and delivery through the Firehouse Subs app. Hours of operation are 10am-10pm. For more information, visit https://www.firehousesubs.com/ or call (423) 465-4028.

Firehouse Subs is proud to be a part of the Newport community and looks forward to serving delicious subs while continuing to support local heroes.

Eagle Development Group and Hoffman United Launch Joint Venture Project in Spears Creek, South Carolina

8/20/2024

Spears Creek, SC – 8/2/2024 – Eagle Development Group is pleased to announce the groundbreaking of a joint venture with Hoffman United, marking a significant milestone in the development of a new retail complex in Spears Creek, South Carolina. This collaboration aims to bring an exciting new commercial space to the area, enhancing the local economy and community.

The project, strategically located less than half a mile from the I-20 exit 82, will include a Firehouse Subs with drive-thru and Valvoline Instant Oil, with three vehicle bays. As part of the vibrant Spears Creek retail corridor, the development is set to attract significant traffic, joining established brands like Taco Bell and Burger King.

Project Features:

Type: New Retail Development
Size: Around 5,000 square feet with 24 parking spaces
Expected Delivery: Q1 2025
Anchor Tenant: Firehouse Subs, Valvoline

The project is set to benefit from the area's robust demographics, with a population of nearly 60,000 within a five-mile radius and a median household income exceeding $74,000. These factors, combined with excellent accessibility and visibility, make Spears Creek an ideal location for retail growth and investment.

Eagle Development Group, known for its disciplined approach to real estate investment and development, brings its extensive expertise in commercial properties to this venture. Together with Hoffman United, the partnership is committed to delivering a high-quality retail experience that meets the needs of both businesses and the local community.

Groundbreaking on new Firehouse Subs - Dillion, SC

3/29/2022

https://www.dillonheraldonline.com/2022/02/24/firehouse-subs-holds-groundbreaking/

The Impact of Mobile Ordering on the Restaurant Industry

3/19/2021

If you’re like me, your smartphone has changed the way you do just about everything, including ordering food at your restaurant of choice.

If you think about it, before the pandemic hit, mobile ordering was an “extra”-—a bonus to offer customers. But when the pandemic hit last spring, mobile ordering became essential—the only safe way to order with little to no human contact.

Mobile ordering has tremendously impacted the restaurant industry and will continue throughout 2021. Here’s what experts expect to see as the year unfolds:

Mobile ordering becomes the norm. In analyzing app reviews from quick-service chains such as McDonald’s, Chipotle, and Pizza Hut, Brian Levine from digital consultancy firm, Mobiquity found a 36% year-over-year increase in the number of reviewers who expressed it was their first time using such an app. Once you get someone to use something, Levine added, they’ve gone through “the biggest hurdle” of finding the app, downloading it, and entering their information.
Mobile ordering interfaces evolve to meet customer demands. Two pieces of evidence? Mobile ordering and payment companies are providing a special “No contact” badge within the app so customers can identify restaurants that offer contactless service and giving dine-in customers a QR code to view menus and order via their smartphone.
Mobile ordering displaces kiosks and tablets..at least for now. While research has shown orders from kiosks carry a larger check average, consumers are skeptical of the touchscreen. Ordering from a personal smartphone is the current trend and likely to be for the foreseeable future.

The pandemic has changed customer behavior, and once those changes take hold, they’re unlikely to unravel anytime soon—especially as customers enjoy the convenience, value, and safety of trends like mobile ordering.

As always, let me know if you have questions about these seemingly “here-to-stay” developments. I’m here to help you and your business adjust in any way I can.

A Few Trends We Expect for 2021

2/4/2021

After the year we had, I thought I’d share a promising market update as we head into 2021. While the dollar volume for commercial real estate in the U.S. was lower year over year in the fourth quarter of 2020 compared to the same period in 2019, industry experts see several trends poised to positively influence the commercial sector this year -- especially as the coronavirus vaccine looms larger and larger on the horizon.

Here are a few trends we expect to see in 2021:

Digital transformations: Within weeks of COVID’s arrival, most of the workforce went virtual. The unprecedented need for technology and digital tools that followed found many commercial buildings unprepared. Making these necessary changes will be essential to businesses that want to emerge from the pandemic ready to respond to a permanently-changed commercial market.
Thriving Class B and C office spaces: Class A office space (the best-looking buildings with the best construction) isn’t going anywhere, but change is here to stay in the way we look at expansive office environments. Meanwhile, Class B and Class C properties are making the grade and performing exceptionally well.
Demand for warehousing and industrial space: Logistics companies continue trying to keep up with the explosion in e-commerce transactions, which were already rising before the pandemic. Experts are expecting 250 million square feet of additional demand for warehouse space in 2021.
Increase in “ghost kitchens:” There’s no doubt the food and beverage sector has been forever changed by last year. One piece of evidence is the increase in “ghost kitchens'' -- kitchens designed solely to serve to-go and delivery food orders. They were gaining in popularity before the pandemic and will continue to be a focus as developers and restaurateurs adjust to the shift in online ordering.
Creative multifamily conversions: Converting other types of buildings into multifamily apartment complexes is growing popular as construction costs have risen. This type of housing brings more certainty to landlords and meets a growing need as housing becomes more expensive.

Financially, experts are cautious about the year to come--financing may tighten, so CRE investors are encouraged to strengthen their asset portfolios. Fortunately, rent prices are already stabilizing throughout much of the US despite the drops seen in major metros.

If you need more information or up-to-date info and guidance this year, I’d love to help. Give me a call and let’s connect -- I look forward to hearing from you!

The First Developer-In-Chief

1/24/2021

Four years ago, when Donald Trump was sworn in as president, the commercial real estate industry was brimming with optimism — one of their own promised to bring pro-business stability and economic prosperity to their multitrillion-dollar industry.
For a while, it seemed like Trump was delivering on that hope: He oversaw one of the strongest economies in U.S. history and implemented policies and programs that sought to reward the very industry that made him a billionaire, a household brand name and the leader of the free world.

Read More:
www.bisnow.com/washington-dc/news/economy/looking-back-on-the-presidency-of-americas-first-developer-in-chief-107438

How Biden's First Executive Orders Will Impact CRE

1/24/2021

Biden's First Exec Orders

JLL No Longer Selling President Trump's DC Hotel

1/12/2021

Quick-service restaurant trends in the COVID era

12/29/2020

Hope you’re doing well! I’ve been keeping an eye on quick-service restaurant (QSR) trends and want to share a few thoughts about what to expect in 2021 -- as always, feel free to reach out with any questions.

Throughout the pandemic, QSRs have done all they can to reassure customers and make the dining experience safe, simple, and convenient. Here are a few trends we’re seeing that are likely to continue throughout the year.

Quick-service restaurants will head to suburbia. Heading to the suburbs will allow restaurants to build or renovate locations with smaller dining rooms, dedicated curbside parking, and contactless pick-up windows.
Restaurant chains and ambitious restaurateurs will benefit from empty spaces left behind. Well-known chains will rush to fill locations in urban areas left by locally-owned restaurants forced to close their doors. Sadly, closures due to COVID-19 for “mom and pop” restaurants will mean significant deals for well-positioned chains and investors.
Restaurants will focus on and improve off-site purchases. Restaurants were forced to adapt quickly to the pandemic last spring -- many offering pick-up and delivery even if they never had before. However, with 63% of customers saying they prefer to order directly from the restaurant over using third-party delivery services (DoorDash, GrubHub, Uber Eats, etc.), restaurants will look to expand and improve the off-premise dining experience.
Restaurants will personalize the customer’s experience at every turn. Tech-savvy customers want intuitive ordering from restaurants with the latest technology that recognizes them and their preferences. From remembering past purchases to showcasing similar menu items, quick-service chains will have to personalize if they want to keep up in a post-pandemic world.
Restaurants will disclose safety practices to customers looking for reassurance. Signage, digital messaging, and visual evidence of enhanced safety practices will be key to reassure customers of safe dining. Customers follow media and government influence, so restaurants will need to stay in line with public sentiment.

No industry has been hit harder by the pandemic than restaurants. But just like any business, by adjusting to customer demands, quick-service restaurants can position themselves to meet and surpass post-pandemic projections for 2021. And keep in mind, a vaccine could change everything once again…no doubt I’ll be keeping my eye on that and will let you know what I see.

As always, give me a call if you’d like to discuss. I look forward to hearing from you.

Mike Ziegler
Eagle Development Group
571.335.7866