Leasing and Pad Sales Jack in the Box
Challenge: Finding quality sites in a fully developed market
In 2013, CenterPoint began assisting corporate Jack in the Box with strategic positions of corporate jack in the box units in DFW. The challenge was that the market was so saturated, there was little room from growth without targeting outlying markets. Yet, history had suggested that ideal sites would be infill locations in established consumer markets. However, these area were determined to be almost completely built out or they had non-compete clauses from rival chains. In, addition, the fact that every Jack in the Box unit had a radius restriction against other Jack in the Box units left little room for new opportunities.
CenterPoint was engaged to targeted minute holes in the market. Competition studies were prepared that avoided all of the potential restriction. Tools such as sourced demographic data with weighted customer targets, along with studies providing sales of competitors helps to identify all potential trade areas. Once target areas were determined, nearby key intersections were located and then those markets were combed to uncover failing operations, planned redevelopments, or other non-conforming properties that would offer potential as a new location.
Results when it matters
After any site was identified, full market and site specific studies were prepared by CenterPoint and delivered to the corporation for review by its real estate committee.
In a market with practically no opportunities, CenterPoint was able to identify nearly a dozen sites, with pursuit of more than half of those as future Jack in the Box stores.