Quiznos announced at the ICSC Global Real Estate Convention in Las Vegas that it is seeking approximately 600 new high-traffic sites to facilitate the planned development of the approximately 600 new corporate-owned restaurants announced by Quiznos last week.
Quiznos is dedicating recently restructured capital to growth in markets throughout the country, helping to ignite the commercial real estate market and fueling market-level economic growth nationwide.
"We are on a strong growth track at Quiznos, and we see the emerging economy as the ideal time to expand brand presence, grow market share and meet the strong customer demand," said Rick Schaden, Quiznos' founder and CEO, in a news release. "Quiznos has the solid financial position to realize and accelerate tremendous growth, and we are anxious to engage with the best real estate partners as we posture Quiznos for new levels of success."
As a national brand, Quiznos currently has locations in all 50 states and hopes to further establish its nationwide presence through this new growth initiative. The company is targeting prime commercial real estate with high daytime traffic in markets nationwide, with particular focus on locations with 1,200 to 1,600 square feet.
"Quiznos brings energy to the retail real estate space with their newly announced growth goals," said Chris Simmons, a broker with Welsh Companies in Minneapolis. "We expect owners and developers of highly sought-after trade areas to eagerly respond to the strength of a much-loved, national brand such as Quiznos."
In addition to new store development, Quiznos is actively investing in its brand – refreshing its brand identity and renovating in-store design in more than 1,100 units to date. The company plans to renovate an additional 2,000 locations within the next 12 months.
