INFORMATION #1 08-14-2006 - Laserfiche WebLink

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Page 2 of 2 its first site in Apple Valley. Moe's Southwest Grill is expanding, as is Potbelly Sandwich Works and Pei Wei Asian Diner. • Also, the new Cosi cafes are hitting [he market. They are a mix between a coffee shop, bistro, sandwich shop and wine bar. The first locations in the Twin Cities are in downtown Wayzata, Woodbury and downtown Minneapolis. Cosi Inc. is a franchised, quick-service concept with approximately 96 locations In 20 states so far. In the metro, there are letters of intent for five more locations, but the franchisee says there could be as many as 40 Cosi cafes in Minnesota. • Some sit-down restaurantr are retooling and adapting to compete with the quick-serve, fast-casual restaurantr. In that effort, they are changing their menus to add take-out Items and add curbside delivery. They are speeding up service and offering less expensive menu items. Examples are TGI Fridays, Chili's and Applebee's. • With services like Netflix, which allow consumers to order DVDS online, people no longer have to drive to the neighborhood video store. This change in the video rental business is affecting neighborhood retail centers around the country. Movie Gallery Inc., owner of the Hollywood Video and Movie Gallery concepts, plans to cut its retail space by 50% as part of a nationwide downsizing of more than 2,200 locations. Itr stores are typically 7,500 sq. ft. Also, Blockbuster Inc., which has stores that range from 4,500 to 6,500 sq. ft., plans to close 100 to 150 locations each year across the wuntry. On the positive side, many video rental stores are in high-traffic locations, and this will open up opportunities for new co-tenancy. The Outlook Neighborhood centers'suctess will continue because their niche is serving time-pressed shoppers searching for convenient locations and fresh, new service retail conceptr. Landlords will continue to look to add new versatile conceptr and be creative in new uses. Print this Page Close Window http://outlook.uproperties.corn/PagePrinter.aspx?InstanceID=b5dc3874-23 ec-45bc-9750-47... 8/8/2006