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MIKE WHO? MIKE JAMES

Mike James and Guernsey Holdings Acquire 20 Zaxby's (Read More)

• Expanding Portfolio: Guernsey Holdings, which previously sold Little Caesars and Meineke businesses, acquired 20 Zaxby's locations in South Carolina. It currently owns 98 Sonic restaurants and three Take 5 Oil locations.

  Strategic Move: CEO Mike James sees Zaxby's high unit volume and strong infrastructure as a complement to existing brands.

  • Key Acquisition: Guernsey partners with Performance Management Group, focusing on team strength over platform investment.

  • Growth Strategy: Guernsey looks to add new units and continue acquisitions with a focus on operational excellence.

  • Long-Term Investment: Guernsey's patient capital and operational focus differentiate it as a stable, long-term franchisee.

  • Operational Excellence: Guernsey aims to maintain top 10% rankings in operational performance across its brand portfolio.

TRIPLE NET TENDIES

🧠 Thought Leader: Don McMinn shares his five takeaways from the GlobeSt Net Lease show in NY

👂 Ear Hustle: Taylor Avakian shares how he would spend resources to dominate CRE brokerage

💎 Web Gem: Chris Hatch shares how outsourced lease negotiators tried to contact him about his Wendy’s property

NET LEASE NUGGIES

• Wawa unveils plans for 40 new central PA stores, continues state-wide expansion. The convenience store chain targets Cumberland, Dauphin, York, and other counties by 2025. This growth aligns with a larger goal of reaching 1,800 stores nationwide by 2030. Despite recent expansions into new states like Ohio and Indiana, Wawa's focus on in-state growth highlights its commitment to reaching more customers. (Read More)

• Tijuana Flats acquired by new ownership, closing restaurants and filing for bankruptcy protection. The fast-casual Tex-Mex concept based in Maitland, Fla., has been sold to Flatheads LLC. The CEO, Joe Christina, is positive about the new ownership's plan to rejuvenate the brand. The company has filed for Chapter 11 bankruptcy, closed multiple locations, and aims to focus on improving brand quality and guest experience. (Read More)

• Nordstrom family seeks to take retailer private. The company forms a special committee to consider the bid from CEO Erik and president Pete Nordstrom. In 2018, a similar attempt was rejected. The family owns around 30% of shares. The committee will evaluate all proposals to assess their impact on shareholders, but a deal is not guaranteed. (Read More)

BEAST TWEETS

🐦 Justin Ryder: A wild experience from this week I wish on every broker…

🦅 Nick Huber: The tax advantages of real estate are shrinking because of two main factors…

🦢 David Gellner: Here's how we sold the largest NNN gas station in WA State history…

🦆 The Wolf of Franchises: In 1975, Steve Jobs approached his former boss - Nolan Bushnell - about investing in his computer company…

VISUAL OF THE DAY