Del Taco expands its presence in Mississippi

Estimated read time: 3 minutes and 34 seconds

TACO CHEWSDAY

Del Taco has expanded into Mississippi with its new Fresh Flex location in Philadelphia. (Read Here)

Expanding in new territory: Del Taco partnered with franchise group DT of Philadelphia LLC to bring its first location to Mississippi. The brand plans to add more locations in Alabama and Mississippi. Del Taco operates approximately 600 restaurants across 15 states.

💰 THE MONEY SHOT

Showcasing the Menu of Venues: The Fresh Flex layout not only offers a working kitchen to display Del Taco's food preparation process, but also aims to enhance guest experience through its sleek and modern design. The restaurant features a modern design, double drive-thru, and pick-up lockers, providing a streamlined and convenient experience for guests.

CASEY AT THE BAT

Iowa-based Casey's convenience stores plans to expand into Texas through the acquisition of Lone Star Food Stores, a Texas-based grocery chain. (Read Here)

Expanding into Texas: Casey's sees the acquisition of Lone Star Food Stores as a strategic move to enter the lucrative Texas market. The temporary closure of the existing stores allows for rebranding and remodeling to align with Casey's brand.

💰 THE MONEY SHOT

Growth opportunity: The acquisition of Lone Star Food Stores adds to Casey's existing portfolio of over 2,500 locations. By expanding into Texas, Casey's aims to capitalize on the state's consumer demand and establish a strong presence in the convenience store industry.

DOWN-SIZE THE FEDS

GSA Identifies 23 Properties for Disposition as Part of Federal Buildings Portfolio Modernization. (Read Here)

Optimizing the federal portfolio: The GSA aims to reinvest in existing buildings, reduce costly leases, and remove underperforming assets from the federal portfolio. This strategy is expected to increase occupancy in federally owned assets, reduce the overall federal footprint, and generate significant taxpayer savings.

💰 THE MONEY SHOT

Building efficiency and savings: In addition to this announcement, the GSA has divested five properties in FY'23 and plans to complete the disposition process for six more properties in FY'24. Over the past decade, the agency has reduced the footprint of tenant agencies by disposing of almost 12 million square feet of owned space and reducing 18 million square feet of leased space.

Click here for the 23 GSA property locations

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• WeWork's Chapter 11 reorganization could impact $1.85B in CMBS loans tied to 69 leases. Replacement tenants might be difficult to find due to lackluster demand in the office market, potentially exacerbating the already troubled CMBS market. Defaulting office loans in September reached a record high, putting further pressure on the industry.

• Amazon Fresh: Amazon plans expansion of grocery delivery and brick-and-mortar stores, shifting focus to coffee and donuts. Lawsuits have arisen from vacant properties since the pause in expansion, but Amazon is set to open five redesigned locations in 2024.

• Tesla's Potential Service Center: Tesla is close to finalizing a deal for a service center in Chicago's Loop area, which would serve as a maintenance facility for its electric vehicles. The carmaker aims to establish itself as an energy hub in the city.

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