After years of speculation about the “death of retail,” something remarkable is happening in 2025: brick-and-mortar retail is not just surviving — it’s thriving. Across the country, retail vacancy rates have dropped to their lowest levels in decades, defying predictions that online shopping would render physical stores obsolete.

According to the National Association of Realtors, as of March 2025, the retail sector continues to post the lowest vacancy rate among commercial property types, with general retail leading the way at a 2.6% vacancy rate. This resilience is a testament to the enduring value of physical retail spaces in our communities.

But if we want this momentum to continue — if we truly want to revitalize our downtowns and suburban corridors — cities need to take an active role in encouraging it. One powerful way to do that is by offering targeted subsidies to businesses and developers willing to invest in vacant storefronts and neglected spaces.

When storefronts sit empty, neighborhoods suffer. Blight takes root. Economic activity slows. Property values decline. But when businesses return — whether it’s a local café, a boutique, or a national brand — they create jobs, attract foot traffic, and restore a sense of vibrancy and safety. Retailers today aren’t just selling products; they are offering experiences, fostering community interaction, and anchoring broader economic ecosystems.

As developers, we are ready to meet this moment. But revitalizing a struggling corridor often means taking substantial financial risks: outdated buildings, complex permitting, expensive tenant improvements, and the uncertainty of drawing enough traffic to sustain a business. Public-private partnerships can change that calculus. By offering grants, tax incentives, or low-interest financing to cover renovation costs or initial lease assistance, cities can transform empty spaces from a liability into an engine of opportunity.

We’ve seen glimpses of this model work. In communities where local governments proactively supported revitalization efforts — through façade improvement grants, rent subsidies for new tenants, or expedited permit processes — retail corridors rebounded dramatically. It’s not charity; it’s smart economic policy. A modest upfront investment generates recurring tax revenue, reduces crime, and enhances the overall quality of life.

At LRE & Companies, we believe revitalization is about more than just leasing space; it’s about building ecosystems that uplift entire communities. We work hand-in-hand with city governments, small business owners, and community organizations to ensure that the spaces we create aren’t just beautiful — they’re purposeful.

The resurgence of brick-and-mortar retail is a golden opportunity — but it’s not guaranteed to last if we don’t foster it deliberately. As developers, we are ready to lead. We invite cities to step alongside us, to invest in their own futures, and to recognize that when businesses succeed, communities thrive.

The store lights are turning back on. Let’s work together to keep them shining.

Celebrating a Longstanding Advisor and Friend of LRE & Companies

At LRE & Companies, we pride ourselves on the strength of our partnerships—and few exemplify this better than longtime advisor and friend, Alan C. Hibbard. With a professional journey that spans decades, Alan has played an instrumental role in shaping LRE’s growth, supporting the company through transformative milestones and memorable challenges alike.

Alan has been a foundational part of the LRE team. A former franchise restaurant owner and seasoned commercial real estate specialist, Alan began his career in development in the late 1980s. He officially transitioned into franchise development in 1996, where his knack for leasing and deep understanding of the landlord-tenant dynamic positioned him as a standout leader in the space. Over the years, he successfully developed more than 160 restaurant locations across California and held leadership roles that included overseeing territories and serving as a general manager.

It was during these years that Alan first crossed paths with LRE & Companies Founder and CEO Akki Patel, who was also active in restaurant development at the time. “We got to know each other through regional meetings,” Alan recalls. “Eventually, when Akki acquired a key development territory in 2015, he brought me in to consult—and we’ve been working together ever since.”

From airport bids to complex lease negotiations, Alan has been Akki’s go-to advisor for all things development and strategy. One of his most gratifying moments? Winning the Reno Airport RFP, a hard-earned project that Alan remembers as a career highlight. “Those presentations take everything you’ve got—and when you win one, you really feel it.”

He’s also helped guide the company through tough times, including the closure of locations during the pandemic and navigating challenging landlord relationships. “Real estate is all about problem-solving,” Alan says. “What makes LRE successful is Akki’s vision and the pace at which he moves. It’s like drinking from a fire hose—you have to keep up.”

Now 79, Alan still actively consults for LRE, offering wisdom drawn from a lifetime of entrepreneurial grit. When asked what’s kept him motivated, he answers simply: “Every challenge is unique. And solving problems quickly, and with care, is what keeps me going.”

Alan’s passion for detail, big-picture thinking, and mentorship has left a lasting imprint on LRE’s evolution. From helping divest dozens of restaurant locations across Northern California to advising on real estate, tax, and leasing matters as LRE grew its hospitality and retail footprint, Alan’s fingerprints can be found throughout the company’s legacy.

In his words, “I could’ve wrapped my career when Akki acquired that territory. But I chose to stick around—and I’m so glad I did. Working with LRE over the past 10 years has been a spectacular ride.”

A musician at heart, Alan now spends more time behind a piano than a lease negotiation table. Still, his contributions to LRE’s past—and present—are felt every day. “It’s been a pleasure watching Akki build something of his own,” he says. “And if I can keep one foot in the door a little longer, I’m happy to help wherever I can.”

From all of us at LRE & Companies: thank you, Alan, for your leadership, loyalty, and legacy.

Hiring the right people is only the first step in building a successful business. The real challenge—and opportunity—comes in what happens after they join the team. The best employees don’t just want a job; they want a workplace where they feel valued, challenged, and inspired to grow.

At LRE and Companies, I’ve seen firsthand that when you invest in your people, they invest back in the company. But that requires intentional leadership. It’s not just about managing—it’s about creating an environment where people want to stay, contribute, and thrive.

1. Set Clear Expectations and Follow Through

One of the fastest ways to lose a great employee is a lack of clarity. People want to know what’s expected of them and how their success will be measured. If expectations aren’t clear from the beginning, it leads to frustration and disengagement.

I make it a priority to outline specific goals, responsibilities, and performance metrics upfront. But setting expectations isn’t enough—following through is just as important. That means providing feedback, acknowledging wins, and addressing issues before they become major problems.

2. Create a Culture of Accountability and Trust

The best teams operate on a foundation of trust. Employees need to feel confident that their contributions matter and that they can rely on their leaders to be fair and transparent.

For me, accountability starts at the top. If I expect my team to take ownership of their work, I have to model that behavior myself. That means admitting when I make mistakes, being open to feedback, and ensuring that everyone—regardless of their role—feels heard and respected.

A strong culture of accountability also means empowering employees. Micromanaging stifles creativity and motivation, while trust allows people to take initiative and solve problems on their own.

3. Encourage Growth and Development

Top talent doesn’t just want to do the same thing day in and day out—they want opportunities to grow. If employees don’t see a future for themselves at a company, they’ll start looking elsewhere.

At LRE and Companies, I focus on professional development by:

• Providing mentorship and opportunities to learn from experienced team members.
• Encouraging employees to take on new challenges and expand their skill sets.
• Supporting ongoing education, training, and certifications when possible.

Growth isn’t just about climbing the corporate ladder—it’s about continuously improving and finding new ways to contribute. When employees feel like they’re progressing, they stay engaged.

4. Recognize and Reward Contributions

Everyone wants to feel appreciated. While competitive salaries and benefits matter, genuine recognition can be just as powerful.

I make it a point to acknowledge hard work—whether that’s a simple thank-you, a public shout-out, or performance-based incentives. Recognition doesn’t have to be complicated, but it does have to be consistent. People who feel valued are more likely to go above and beyond for the company.

5. Stay Adaptable as a Leader

Just as businesses evolve, so do the needs of employees. A leadership style that worked five years ago might not be as effective today. That’s why I constantly evaluate my approach and remain open to change.

Leadership isn’t about having all the answers—it’s about staying engaged, listening, and being willing to grow alongside your team.

The Bottom Line: Leadership is a Long-Term Investment

Hiring the right people is only half the equation. Keeping them engaged, motivated, and committed to your vision is where real leadership comes into play. The strongest companies aren’t just built on talent—they’re built on leaders who foster trust, accountability, and continuous growth.

At LRE and Companies, I don’t just want great employees—I want a great team. And that means making sure every person who walks through our doors has the support, structure, and opportunity to do their best work.

Because when you invest in your people, they invest back in your company. And that’s the real key to long-term success.

Hiring the right people is one of the most critical decisions a business owner can make. A strong team can propel a company forward, while the wrong fit can slow progress, create friction, and even set a business back. Over the years, I’ve learned that hiring isn’t just about finding the best candidates—it’s also about understanding myself as a leader.

Know Yourself Before You Hire

Before bringing someone new into the company, I take a hard look at my leadership style, my workflow, and my expectations. It’s easy to assume that an employee should just “figure it out” once they step into their role, but the reality is that clarity from the start is key to success. Every leader has their own habits, preferences, and ways of operating. If I’m not aware of those things, I can’t properly communicate them to my team.

For example, I know that I thrive in a fast-paced, and sometimes chaotic environment, but it is always results-driven. I value initiative and complex problem-solving, and I have high expectations of my team to take initiative and be proactive. If I don’t share those expectations upfront, I could end up hiring someone who is incredibly skilled but prefers a different work style—creating frustration on both sides.

Hiring for Culture and Capability

Skills and experience matter, but they aren’t everything. The right hire should not only be competent in their role but also align with the culture and energy of the company. A talented employee who doesn’t fit the company’s rhythm can struggle, even if they have an impressive résumé.

That’s why I prioritize open and honest conversations during the hiring process. I want to understand how candidates work best, what motivates them, and how they handle challenges. At the same time, I make sure they understand how we operate at LRE and Companies—our expectations, our pace, and our values. We value team members who demonstrate initiative, accountability, and sound judgment—we hire professionals who can work independently and don’t require constant oversight.

Setting New Hires Up for Success

Hiring the right people isn’t just about choosing them—it’s about setting them up to succeed once they’re in the door. That means having clear onboarding processes, providing the right resources, and ensuring they feel supported from day one.

But support goes both ways. As a leader, I also have to be open to feedback. No one is perfect, and sometimes, what worked for the business in the past needs to evolve. A great hire can bring fresh perspectives and ideas that help the company grow in ways I hadn’t considered.

The Bottom Line

We do want to add something like we don’t like to babysit. We hire grown ups and we want them to be responsible. 

Building a successful business starts with building the right team. And that process starts with knowing yourself as a leader. When you understand your own workflow, communication style, and expectations, you can hire with intention—bringing in people who will not only thrive in their roles but also help the company move forward.

But hiring is just the beginning. Once you have the right people in place, the real challenge is keeping them engaged, motivated, and aligned with your company’s vision. In the next blog, I’ll share how to create an environment where top talent thrives, ensuring that the investment you make in hiring pays off for years to come.

SOCIAL POST:

Hiring the right people isn’t just about finding top talent—it starts with understanding yourself as a leader. Before bringing someone new onto your team, take a step back and evaluate your workflow, expectations, and leadership style. Clarity from the start ensures you’re hiring people who align with your vision and can thrive in your company’s culture.

At LRE and Companies, we don’t just hire to fill positions—we hire to build something bigger. In my latest blog, I discuss why self-awareness is the key to making the right hiring decisions and how it can make or break your business.

Read Part 1 now: https://akkipatel.net/the-hidden-power-of-hiring-how-the-right-people-can-make-or-break-your-business-part-1/

#LREandCompanies #CommercialRealEstate #Leadership #HiringTheRightPeople #CompanyCulture #BusinessGrowth #Entrepreneurship

Habit Burger’s Ukiah location is set to open in early 2026

Ukiah is about to become the battleground for a good-natured burger rivalry. Habit Burger & Grill, a Southern California-headquartered chain that has gained traction as a competitor to the legendary In-N-Out, is set to open a new location in the Mendocino County seat.

The new restaurant is slated to take over the former Denny’s site at 105 Pomeroy St, which has sat vacant since the diner’s closure in the summer of 2023. The application to renovate the building was formally submitted earlier this month, and the approval process is now underway.

Some people start their day with a cup of coffee. Others, like me, keep the momentum going with a second—or sometimes even a third—stop at Starbucks before the day is done. Call it dedication, call it routine, but there’s no denying that my relationship with Starbucks has been a long one. As someone who has been a loyal customer since the early days, I’ve seen the brand evolve over time. From its humble beginnings as a place to grab a well-crafted cup of coffee to becoming a fast-paced, efficiency-driven chain, Starbucks has seen many transformations. But on a recent visit, I noticed something different—something refreshing. The Starbucks experience is changing once again, and this time, it’s returning to its roots.

Under its new leadership, Starbucks is embracing the essence of hospitality in a way that feels authentic and intentional. With Brian Niccol stepping in as CEO in September 2024, it’s clear that a renewed focus on customer experience is taking shape. The menu boards have a fresh, refined look. Customers who choose to enjoy their coffee in-store are now served in real glass mugs. The atmosphere feels warmer, more inviting—less like a transactional stop and more like the true coffeehouse experience that originally defined Starbucks.

As a real estate developer and business owner, I know firsthand that customer experience is everything. The success of any brand, especially one built on hospitality, hinges on its ability to make people feel welcomed, valued, and part of something greater. A coffee shop isn’t just a place to get caffeine—it can serve as a “third place,” a concept coined by American sociologist Ray Oldenburg. He described third places as those spaces outside of home (the first place) and work (the second place) where people go to converse, connect, and build a sense of community.

This shift back to the fundamentals of good hospitality, customer service, and community is a smart move. In an era where automation and speed often take priority in our lives, Starbucks is recognizing the importance of slowing down, offering a moment of pause, and creating an experience worth savoring.

I’ve always appreciated a well-made coffee, and my go-to Starbucks order—a cortado with a splash of oat milk and brown sugar—is something I enjoy not just for the taste, but for the ritual of it. That ritual feels very different now, in the best way. Taking a moment to sit down, I sipped from a real glass, and enjoyed the ambiance that wrapped me in warmth—the rich aroma of espresso, the quiet hum of conversations, the gentle clink of mugs—all blending into a rhythm that settled me deep in my core, inviting me to savor the moment. This is what makes a true coffeehouse so special.

LRE & Companies has proudly partnered with Starbucks for years, and I’ve always admired their ability to evolve while staying true to their core values. Seeing this latest transformation reminds me why our partnership has been such a strong and natural fit—we both understand that success isn’t just about expansion, it’s about creating spaces that people want to return to, time and time again.

It’s a lesson in leadership and brand stewardship. When a company grows, it’s easy to lose sight of the very things that made it special in the first place. The right leader understands that success isn’t just about revenue; it’s about staying true to the principles that the brand was built upon. For Starbucks, that means great coffee, a welcoming environment, and a continued commitment to building community.

Seeing this evolution firsthand reminded me why I fell in love with Starbucks all those years ago. It’s no longer just a quick stop for a cup of coffee—it’s once again a place where people gather, unwind, and connect. In today’s fast-moving world, that kind of space is more valuable than ever.

And for any business leader, it’s a powerful reminder: Sometimes, the best way forward is to go back to the basics.

When it comes to commercial real estate development, few leaders have successfully blended strategic site selection with brand partnerships as effectively as Akki Patel. As the driving force behind LRE & Companies, Patel has spearheaded the expansion of franchise real estate across California, Nevada, and Oregon, positioning the firm as a leader in regional development. His approach combines market intelligence, deep industry relationships, and a keen understanding of what makes a location thrive.

Strategic Site Selection: The Key to Success

Choosing the right location is the cornerstone of franchise success, and Patel’s strategy is both data-driven and intuitive. He evaluates key factors such as traffic patterns, demographic trends, proximity to complementary businesses, and economic growth projections before committing to a site. This meticulous approach ensures that each development aligns with both the brand’s needs and the community’s potential for long-term growth.

Beyond analytics, Patel believes in personally scouting locations, engaging with local city officials, and understanding the unique dynamics of each community. This hands-on involvement allows LRE & Companies to secure high-visibility locations with strong revenue potential.

Building Strong Franchise Partnerships

LRE & Companies has established a track record of working with national and regional franchise brands, particularly in the food and beverage sector. Patel’s approach to franchise real estate is built on collaboration—he works closely with brand operators to understand their expansion goals, operational needs, and customer demographics. This ensures that every location is not only viable but positioned for long-term success.

One of Patel’s key strengths is his ability to negotiate favorable terms that benefit both franchisees and property owners. By securing sites in areas that have high-growth potential with built-in demand, he creates win-win scenarios for brands looking to establish a presence in competitive markets.

Navigating Challenges in Regional Expansion

Expanding across multiple states comes with its own set of challenges, from zoning regulations to navigating different permitting processes. Patel and his team at LRE & Companies have developed a deep understanding of regional real estate requirements, allowing them to streamline approvals and accelerate project timelines.

Additionally, community integration is a crucial aspect of LRE’s expansion strategy. Patel ensures that developments not only meet business objectives but also enhance the local area by creating jobs, attracting complementary businesses, and contributing to economic growth.

The Future of Franchise Real Estate on the West Coast

Looking ahead, Patel sees continued opportunities for franchise expansion across California, Nevada, and Oregon, particularly in suburban and emerging metropolitan markets. With shifting consumer behaviors and increasing demand for convenience-driven retail and dining experiences, Patel is positioning LRE & Companies to lead the way in strategic, sustainable franchise real estate development.

His vision extends beyond just securing prime locations—he aims to foster long-term partnerships with brands that align with the evolving needs of communities. As LRE & Companies continues its expansion, Patel remains committed to smart, impactful development that benefits both businesses and the regions they serve.

A Wendy’s fast food chain building is set to be part of “University Square,” a 10-acre mixed-use development in Rocklin, according to developer LRE & Companies.

University Square will be found at the intersection of Sunset Boulevard and University Avenue, making it LRE’s first project in Rocklin and second in Placer County.

LRE said the new development will offer new opportunities for retailers in a growing community.

“We are thrilled to welcome Wendy’s to University Square,” said Akki Patel, CEO of LRE & Companies. “This addition reflects our commitment to bringing top-tier dining options to Rocklin while creating jobs and supporting economic growth in the area.”

The development includes more than 20,000 square feet of retail space and 5,000 square feet designated for additional quick-service restaurants with drive-thru options.

According to LRE, it will also be located near a townhome community and across the street from William Jessup University.

Employee Spotlight: Alia Ganem
Vice President of Operations | LRE & Companies

At LRE & Companies, we’re proud to have a team of passionate and dedicated individuals driving our success. This month, we’re shining the spotlight on Alia Ganam, our Vice President of Operations, who has been with LRE for approximately 15  years in various roles.

A Passion for Hospitality & Community

Alia’s journey into the restaurant industry began with her love for food and cooking. Her very first job was in a bakery, and after moving to Seattle in 2001, she continued in the industry, working at a local sandwich shop. Since then, she has never looked back—building a career that blends her operational expertise with her deep-rooted passion for the restaurant world.

Making an Impact Beyond Business

For Alia, success isn’t just about opening and operating restaurants—it’s about the connections made within the community. One of her most rewarding experiences at LRE has been supporting local schools and community initiatives. She recalls a recent event, “Turn Off Technology Night,” where one of LRE’s restaurants donated Certificates of Achievement to encourage families to disconnect from screens and spend quality time together. This initiative was so well received that they’ve committed to supporting two more family events this school year.

A Dynamic Role & A Love for Learning

As VP of Operations, Alia’s role has evolved significantly over the years. She thrives on taking on new responsibilities and learning new skills, not just for her professional growth but also in ways that enrich her personal life. One thing that might surprise people about her job? The unpredictability of her days—no two are ever the same!

Beyond Work: A True Foodie & Creative Spirit

When she’s not managing operations, Alia is all about food, creativity, and sports. She loves cooking for others, exploring new restaurants, and expressing herself through painting, drawing, and photography. And as a proud Boston girl, you’ll always find her cheering on all Boston sports teams!

Thank you, Alia, for your dedication, leadership, and the positive impact you bring to LRE & the communities we serve!

Where Community Thrives: The Role of Multi-Use Developments in Modern Growth

As a developer, I’ve always believed that real estate should be more than just a collection of buildings—it should serve as a cornerstone for growth, connection, and opportunity. Over the years, my team at LRE & Companies has been privileged to play a role in shaping communities in the Western U.S. through multi-use developments. These projects are not just about creating spaces; they’re about building vibrant hubs where people can live, work, and thrive.

Designing Spaces That Meet Community Needs

When I envision a development, I start by asking a simple question: What does this community need? The answer often lies in creating spaces that bring together residential, commercial, and educational components. Take our University Square project in Rocklin, California, for example. Anchored by The Learning Experience, this 10-acre development includes retail, a daycare center, and even a hotel—all within proximity to residential townhomes and future educational campuses.

This kind of integration provides families with everything they need within reach, from grabbing coffee to dropping off their kids at daycare. It’s about making life easier and fostering an environment where people feel connected to their surroundings.

Driving Economic Growth

Multi-use developments don’t just benefit the people who live and work in them; they also energize local economies. By attracting a mix of businesses, from small startups to national brands, these projects create jobs and stimulate economic activity in these communities. University Square, for instance, is contributing to Rocklin’s rapid growth, positioning it as a hub for both residents and businesses.

What excites me most is the long-lasting ripple effect these developments have. When we transform underutilized land into dynamic spaces, it attracts further investment, boosts nearby property values, and supports the growth of surrounding businesses.

Enhancing Accessibility and Sustainability

A core principle of our work at LRE & Companies is ensuring that our developments prioritize accessibility. By designing spaces where residents can live, shop, and access services all in one place, we’re reducing the need for long commutes and creating a more sustainable lifestyle. At LRE & Companies, we’re committed to building communities that are not only convenient but also environmentally conscious. We have a proven track record of creating future-forward developments in some of the most difficult places to develop – think California coastline towns!

A Vision for the Future

For me, the most rewarding part of this work is seeing how these developments bring people together. Whether it’s parents connecting at a daycare drop-off or neighbors gathering for coffee, these spaces become the heartbeat of the community.

As cities grow, the demand for thoughtful, multi-functional spaces will only increase. At LRE & Companies, we’re proud to be part of this evolution, creating projects that drive economic growth, foster connection, and help communities thrive.

This is just the beginning. Together, we can build a future where real estate development serves as a catalyst for lasting, positive change.