It seems like major retailers are closing their doors every day. Earlier this year, Joann announced that it would close all its fabric stores, while both Kohl’s and Macy’s announced their own round of closings.

That doesn’t mean that all retailers are struggling. In fact, the retail sector has shown impressive resilience, even while facing an uncertain economy.

For proof, consider Northmarq‘s first quarter 2025 The Top 100 report. This report lists U.S. retailers that are expanding their locations rapidly. It’s a reminder that while some retailers are shutting down, others continue to grow.

Which retailers are performing well in Northmarq’s latest Top 100 report?

T.J. Maxx, Marshalls and HomeGoods continue to lead off-price retail by targeting middle-market shoppers, Northmarq reports. These three stores will open 70 locations in 2025. The company also has plans to double the number of HomeGoods stores and reach a global total of 7,000 locations across all three brands.

Five Below, popular among Gen Z and Millennial shoppers, plans to open 150 new stores in fiscal year 2025, with 50 of these locations opening in the first quarter, according to Northmarq. The discount retailer hopes to eventually reach 3,500 total locations.

Burlington is now focusing on smaller-format stores, Northmarq reports. The retailer plans on opening 100 new locations in 2025 and has a long-term goal of 500 new locations by the end of 2028.

Ross Dress for Less is continuing its steady growth by planning 80 new stores during this fiscal year, with a long-term vision of reaching 2,900 total locations, Northmarq reports.

Then there’s Ollie’s Bargain Outlet, which plans to open 75 new locations in 2025. Northmarq says that Ollie’s is targeting underserved markets.

Retail giants are also growing, with Northmarq pointing to Walmart, which plans to open 150 new U.S. stores in the next five years and remodel hundreds more.

Grocery chain Aldi plans to open 225 new locations across the United States in 2025 while striving for 800 new total stores by the end of 2028. Northmarq says that these new locations will generally target suburban and rural markets.

Northmarq says that Dollar General plans to add a whopping 595 new locations this fiscal year. This brand, too, is targeted underserved areas, especially in rural locations.

A commercial planned development featuring a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park is coming soon to the Collin County city of Lucas, Texas.

Younger Partners Senior Vice President Michael Ytem and Executive Vice President Tom Grunnah brokered the sale of the 42-acre parcel of undeveloped land at the northwest corner of Parker Road and Southview Drive (FM 1378) in Lucas, 30 miles northeast of Downtown Dallas in Collin County.

Ytem and Grunnah represented both the buyer, Lucas Crossing LTD – led by Malouf Interests – and the seller, JCBR Holdings, in the transaction. The sale price was not disclosed. Construction is set to begin in Q4 with an estimated completion in 2026.

Malouf Interests is leading its retail transformation in the highly desirable suburban area in northeastern Dallas. The development is strategically positioned to serve not only Lucas but also neighboring communities including Parker, North Wylie, Northeast Murphy and St. Paul. With its strong residential growth and appeal, Lucas continues to attract families and professionals, drawn to its high-quality lifestyle and expanding amenities.

Remember when a convenience store meal meant a bag of chips, stick of beef jerky and a bottle of pop? You can still get all that. But you can also nab prepared meals, hot sandwiches, salads and wraps. And these increased offerings are hitting fast-food chains.

Coldwell Banker Commercial in its latest Trend Report focused on how convenience stores have shifted from a place for consumers to stop quickly for snacks and fuel to popular food destinations. This shift has made these stores an increasingly attractive asset class for commercial real estate investors, according to the Coldwell Banker Commercial report.

These stores are especially popular for investors in the net-lease market.

“The convenience store industry is evolving to meet changing consumer needs,” said Dan Spiegel, senior vice president and managing director of Coldwell Banker Commercial, in a statement. “With smaller households, more urban locations and evolving food preferences, the sector is undergoing significant transformation. Given their frequent visits, convenience stores must stay closely connected to shifting consumer lifestyles to remain competitive in the retail market.”

Convenience store product mix drives growth

The report highlights how convenience stores have evolved from fuel and snack retailers into quick-service food and grocery alternatives.

This shift is most evident in the type of products that convenience stores offer. According to Coldwell Banker Commercial’s report, the sales of prepared food at convenience stores have risen 12.2% year-over-year.

In bad news for the country’s fast-food restaurants, the report also found that 56% of consumers now consider convenience stores to be viable substitutes for fast-food chains.

This growth, fueled by consumers’ demand for convenient, affordable and healthier food options, has added to the sector’s stability, even though profit margins remain narrow at around 5% to 7%. Coldwell Banker Commercial reported that the high turnover of products and steady consumer visits overcome the tight margins, making convenience stores a reliable source of income for investors.

The shift in consumer behavior–especially as inflation raises grocery prices–has positioned convenience stores as an attractive alternative for those seeking fresh food at affordable prices, according to the trends report.

Changing real estate needs

As convenience stores continue to add to their food offerings, their real estate needs are expanding.

In its report, Coldwell Banker Commercial points to chains like QuikTrip, Casey’s General Stores, RaceTrac and Wawa. These chains are investing in larger store formats to accommodate their expanding food preparation areas.

Many operators are also opening new locations in urban centers and exploring non-traditional spaces such as college campuses and downtown locations. These provide new opportunities for real estate investors.

Investment 0pportunities for convenience stores

Even though 60% of convenience stores are independently owned, the sector is seeing significant consolidation. Major players like 7-Eleven plan to open 500 new stores in the United States and Canada by 2027, while regional chains such as Wawa, Sheetz and Buc-ee’s are expanding into new markets.

This consolidation creates opportunities for investors to acquire properties with stronger tenant profiles and more predictable cash flows.

The sector’s strong position, driven by convenient locations, long-term leases (up to 20 years) and low vacancy rates, makes this asset class a stable investment option in the net-lease market. These factors, combined with steady demand, make the sector appealing to net-lease investors seeking reliable, long-term returns.