Auto Shops, Convenience Stores Are the Biggest Retail Winners Out of the Pandemic – GlobeSt.com
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With months of mandated closures, social distancing restrictions and tempered consumer demand, the retail market certainly took a hit during the pandemic. But not all retailers are exiting the pandemic for the worse. In fact, many are in expansion mode or already experiencing a swift rebound from the pandemic.
Stan Johnson Co. recently published a Retail Tenant Expansion Report to outline the growth trends in the retail market. The report shows several retailers across sectors that are expanding their current footprint. “The automotive and convenience store sectors are reporting strong levels of planned expansion, with 7-Eleven looking to grow significantly in the long term, Quik Trip planning a significant regional expansion, and many of the aftermarket auto parts stores looking to add net new stores in the coming year,” Lanie Beck, director of corporate research, marketing and communications at Stan Johnson Co., tells GlobeSt.com. On the automotive side, Advance Auto Parts, Auto Zone and Jiffy Lube are in expansion mode, and they are catching investor interest as a result. For example, just a few days ago, Machine Investment Group closed on the acquisition of an 8-Property Jiffy Lube portfolio in the San Francisco Bay Area. The portfolio totals 38,360 square feet and it 100% occupied by Jiffy Lube International under triple-net leases.
Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.
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