National View

Wal-Mart’s Profit Rises 10%

A bright spot in the current retail landscape, Walmart posts a 10% rise in profits for the third quarter.  Focusing once again on low prices, the world’s largest retailer is optimistic for the coming holiday retail season. 

http://www.nytimes.com/aponline/business/AP-Earns-Wal-Mart.html?_r=1&ref=business&oref=slogin  

Dollar Stores' Stocks Defying The Economic Downturn

Main Street and Wall Street are both finding value in dollar stores in this slow economy.  Inexpensive staple items attract cash-strapped consumers while shares for the retailers in this category, such as Family Dollar which has experienced a 42% increase, draw in investors. 

http://www.usatoday.com/money/industries/retail/2008-11-10-dollar-stores-strong-shares_N.htm

Keynote: Malls With Other Uses Now Mainstream

An industry leader weighs in on the evolution of mixed-use centers and how they are likely to progress in the future.  Among the predictions – a major draw is likely to be “public destination spaces” rather than department stores. 

http://www.globest.com/news/1286_1286/chicago/175148-1.html

Regional View

Retail: Slow, But Deals Are Still Happening

The Garden State is still seeing retail real estate activity despite of the slowing climate.  A variety of retail uses are opening across the state.  

http://www.globest.com/news/1287_1287/newjersey/175168-1.html?sector=retail

Council OKs Zoning For New Foxwoods Site

One step closer to becoming a reality in Center City Philadelphia, Foxwoods Casino attained approval for special zoning.  Though not a done deal, the zoning allows for an evaluation of the viability of a casino on Market Street.

http://www.philly.com/philly/news/local/34448694.html

Guv Designates $2 Million Toward Hotel In Penn Area 

With the assistance of a $2 million loan, the southwest corner of 40th and Pine is set to become a Homewood Suites Hotel.  The $40 million project will include 115 rooms with the ground floor encompassing limited retail and a restaurant. 

http://www.bizjournals.com/philadelphia/stories/2008/11/17/story5.html

Fameco View

Fameco Real Estate Negotiates First Sonic Deal In Market

PLYMOUTH MEETING, PA.— Fameco Real Estate, L.P., the region’s foremost full service retail real estate firm has negotiated a lease on behalf of Sonic in Wilkes-Barre, PA, it was it was announced by Brandon Famous, CEO and founder of Fameco.

Jed Masloff and Richard Schuch represented NEPA Burgers, LLC, a Sonic franchisee, in the deal.  The drive-in style fast food restaurant will be the first Sonic in the market and will have a drive-through and 22 drive-in stalls.  The site, formerly a KFC, is located on an outparcel of the Wyoming Valley Mall.  A summer 2009 opening is anticipated.

http://www.famecoretail.com/Pages/NewsFiles/Sonic11-08.htm

Fameco Real Estate, LP

The Power of Retail

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