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Sweetbay Supermarket to Close 33 Stores in Florida

Sweet Bay Supermarket

The local grocery store wars chalked up another casualty as Sweetbay Supermarket announced it will shutter 33 stores, including 22 in the Tampa Bay area.

The decision disappointed loyal customers but came as little surprise to industry analysts who have watched Publix and Walmart solidify their stranglehold in this market.

Sweetbay?s Belgian parent company, Delhaize Group, said the move to close a third of its Florida stores was needed to improve its U.S. results and strengthen its bottom line after a difficult year. About 2,000 employees will lose their jobs, including about 1,200 locally?Continue Reading?

New Stores Brighten Tampa Retail Real Estate

The Tampa Bay retail real estate market is faring better than most other regions across the state, according to a new study by CBRE Global Research and Consulting?s team in Tampa. The Tampa Bay retail vacancy rate was 7.8% in 2012, compared with a statewide rate of 8.7%. Only Miami had a lower vacancy rate than Tampa Bay.

The average retail rent was $14.90 per square foot for the region in 2012, with asking lease rates highest in Hillsborough County, at $15.61, and lower in Pinellas, at $13.69 per square foot, on a triple-net-lease (NNN) basis, which means that tenants share property tax, insurance, utility, and other costs. The asking lease rate in Pasco County was $14.81?Continue Reading

Retailers Ring in Profits Catering to Gasparilla Crowds

Not many retailers can profit from a niche market associated with pillaging, drinking rum and wearing an eye patch. Unless they?re in Tampa.

Pirate fever runs high year-round with the Buccaneers but spikes this time of year for Gasparilla, Tampa?s biggest party and the namesake for races, art shows and other events.

Several merchants, from T-shirt printers to clothing boutiques and costume stores, have made a business selling Gasparilla goods. And interest continues to grow as retailers look for ways to get more gold in a lackluster economy?Continue Reading

Checkers & Other Restaurant Chains Embrace Smaller Venues

Checkers Drive-In Restaurants Inc.?is one of several restaurant chains that have adopted strategies of getting smaller in order to grow.

The prototype, built next to a traditional store that was demolished, generated sales of $1.2 million in its first year, compared with $770,000 generated by the previous store in the year before it came down, according to the report.