Restaurant

Acquisitions California Restaurant Retail Western

SRS Brokers $15M Sale of Two Chick-fil-A-Leased Properties in Southern California

by Jeff Shaw May 24, 2023

MISSION VIEJO AND PALM DESERT, CALIF. — SRS Real Estate Partners has brokered the $15 million sale of two single-tenant retail properties in Southern California. Located in Mission Viejo and Palm Desert, Chick-fil-A occupies both buildings on triple-net ground leases. Jimmy Slusher, Eric Shain and John Read of CBRE represented the seller of the 4,800-square-foot Mission Viejo property, a local private investor. The Palm Desert property comprises 4,738 square feet on 1.6 acres within Monterey Crossing Shopping Center. Timothy Genske of CBRE and Bruce Bailey of The Bailey Group represented the seller, UCLA, which received the property as a donation. Matthew Mousavi and Patrick Luther of SRS represented the private, California-based buyer in both transactions.

May 24, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Toro Signs 11 Tenants to Medley Mixed-Use Development Underway in Metro Atlanta

by John Nelson May 18, 2023

JOHNS CREEK, GA. — Toro Development Co. (TDC) has announced leases with 11 tenants at Medley, a mixed-use project currently underway in Johns Creek, roughly 30 miles northeast of Atlanta. Upon completion, the development will include 200,000 square feet of retail, restaurant and entertainment space, as well as 900 residential units and 110,000 square feet of office space. The committed tenants include Little Rey (a concept by Atlanta-based chef and restaurateur Ford Fry), CRÚ Food & Wine Bar, AYA Medical Spa, Fadó Irish Pub, BODY20, Lily Sushi Bar, Lucciano’s Gelato, Sugarcoat Beauty, Summit Coffee, Knuckies Hoagies and Cookie Fix. Len Erickson and Kaitlyn Theriot of Franklin Street handle retail leasing at Medley, and Bryan Heller of Stream Realty Partners handles office leasing. The design-build team includes architect Nelson Worldwide, engineer firm Kimley-Horn and landscape architect Site Solutions. Demolition of a 350,000-square-foot office building is currently underway at the site. TDC plans to break ground on Medley before the end of the year.

May 18, 2023

Leasing Activity Restaurant Retail Texas

Four Retailers Open Stores at Centro Mixed-Use Development in Austin

by Taylor Williams May 18, 2023

AUSTIN, TEXAS — Four new tenants have signed leases at Centro, a mixed-use development spanning two city blocks in Austin. Pure Barre, Brooklyn Dumpling Shop, Birds Barbershop and Full Ride Cycling will occupy a combined 15,000 square feet of ground-floor retail space at the property. Jeremy Smitheal, Win Smith and Bennett Holcomb of Riverside Resources represented the landlord in the leasing negotiations on an internal basis.

May 18, 2023

Development Georgia Hospitality Mixed-Use Multifamily Restaurant Retail Southeast

Edens to Redevelop North DeKalb Mall in Decatur, Georgia to 2.5 MSF Mixed-Use Development

by John Nelson May 16, 2023

DECATUR, GA. — Edens plans to transform North DeKalb Mall, an enclosed regional shopping mall in the Atlanta suburb of Decatur, into a 2.5 million-square-foot mixed-use development called Lulah Hills. Edens acquired the 622,297-square-foot mall in 2021 and rezoned the 73-acre site in 2022 to allow for mixed-use development. At its full build-out, Lulah Hills will feature 320,000 square feet of retail and restaurant space, 1,700 multifamily units, 100 townhomes, a 150-room hotel and a Path Foundation trail connection to nearby Emory University. North DeKalb Mall opened in 1965 and served as the first fully enclosed mall in metro Atlanta. Demolition of the mall is expected to begin later this year, with initial phases of the project to be completed by 2025. Edens owns and operates 1.5 million square feet of retail space in metro Atlanta, including Toco Hills, Merchants Walk, Andrews Square, Buckhead Marketplace, Moores Mill and Park Place.

May 16, 2023

Development Leasing Activity Michigan Midwest Restaurant Retail

Slim Chickens Inks Deal to Open 25 New Locations Throughout Southeast Michigan

by Kristin Harlow May 16, 2023

MICHIGAN — Fast-casual restaurant Slim Chickens has inked a deal to open 25 new locations throughout Southeast Michigan. Business partners Brad and Todd DeLange along with Doug Broadright are spearheading the expansion. Currently, Slim Chickens operates more than 225 locations across the United States and the United Kingdom with more than 1,100 locations in development. Slim Chickens offers 17 different dipping sauces and a variety of menu items such as chicken tenders, salads, sandwiches, chicken and waffles, chicken wings and various sides. The first Slim Chickens opened in 2003 in Fayetteville, Ark. A timeline for the opening of the Michigan locations was not provided.

May 16, 2023

Development Georgia Restaurant Retail Southeast

Stonecrest Resorts Completes Phase II of 143,000 SF Overhaul at Mall at Stonecrest in Metro Atlanta

by John Nelson May 12, 2023

STONECREST, GA. — Stonecrest Resorts has completed the second phase of redevelopment at Priví, a 143,000-square-foot adaptive reuse of the former Sears department store at The Mall at Stonecrest, which is located roughly 15 miles east of Atlanta. Phase II comprised $4.2 million of renovations and the addition of tenants including Baldwin’s Literary Social Bookstore, Priví Art Gallery, The Exposure Hub, 101 TKO Radio, Priví Event Center, 3 Degrees Infrared Sauna Studio, Picasso’s Splat Room, The Lion’s Cage MMA & Fitness Gym and Garden Life Juice Bar. Stonecrest SeaQuest, an interactive aquarium destination, anchors Phase I of the development. Bay Mountain Capital has provided $8.3 million in financing for the next phase: the addition of a 40,000-square-foot food hall on the property’s second level. Concepts will include Atlanta Breakfast Club, The Original Hot Dog Factory, Dope Coffee, a craft bar, golf simulator suites, a daiquiri bar and a fine-dining restaurant. Construction is scheduled to begin this quarter, with openings beginning in spring of next year. Plans for the site also include a 10,000-square-foot history and cultural center.

May 12, 2023

Development Florida Hospitality Mixed-Use Office Restaurant Retail Southeast Top Stories

Cordish, Caesars Reveal Plans for 223-Acre Mixed-Use Project in Pompano Beach, Florida

by John Nelson May 5, 2023

POMPANO BEACH, FLA. — The Cordish Cos. and Caesars Entertainment Inc. (NASDAQ: CZR) are co-developing The Pomp, a 223-acre mixed-use development in Pompano Beach. The property’s name pays homage to the former Pompano Park racetrack on the project site, which is located 35 miles north of Miami and 10 miles north of Fort Lauderdale. Upon completion, The Pomp will feature 1.3 million square feet of retail and entertainment space, as well as 4,000 residential units, two hotels and approximately 1.4 million square feet of office space. The project will include the existing Harrah’s Pompano Beach casino, which is owned by Caesars. Cordish’s Live! brand will anchor the development’s entertainment and dining component. Called Live! at The Pomp, the brand will offer more than 25,000 square feet of food-and-beverage venues, including a Sports & Social and PBR Cowboy Bar. Sports & Social will occupy a 18,000-square-foot space with features such as an LED media wall, emcees and DJs, live fan-cams, competitions and games. The 7,000-square-foot PBR Cowboy Bar will offer music, bars and a mechanical bull. The venues will open into a central plaza that will host live music, family-friendly events, cultural celebrations, festivals, social activities and experiences and additional dining options. “It’s …

May 5, 2023

Acquisitions Midwest Restaurant Retail South Dakota

Marcus & Millichap Arranges $2.1M Sale of Starbucks-Occupied Property in South Dakota

by Kristin Harlow May 1, 2023

VERMILLION, S.D. — Marcus & Millichap has arranged the $2.1 million sale of a 2,365-square-foot retail property occupied by Starbucks in Vermillion, home of the University of South Dakota. The net-leased building has a new 10-year lease with Starbucks that features 7.5 percent rental increases every five years. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.

May 1, 2023

Development Restaurant Retail Southeast Virginia

WEDG to Develop Retail Strip Center in Mechanicsville, Virginia

by John Nelson April 28, 2023

MECHANICSVILLE, VA. — WEDGE Acquisitions LLC has purchased a 1.7-acre parcel in Mechanicsville for $690,000 for the development of a retail strip center. Upon completion, the property, located at 8527 Meadowbridge Road, will comprise 6,500 square feet. Dunkin’ will anchor the center. Nathan Shor of S.L. Nusbaum represented WEDG in the transaction, and Douglas Tice III, also with S.L. Nusbaum, represented the seller, Lisa G. Waitman.

April 28, 2023

Leasing Activity Restaurant Retail Texas

Three Tenants Sign Leases Totaling 7,175 SF at Plazas at Midtown II in Houston

by Taylor Williams April 28, 2023

HOUSTON — Three retailers have signed leases at Plazas at Midtown II, a shopping center in Houston. Dough Zone Dumpling House will open a 4,503-square-foot restaurant at the property, marking the brand’s first Texas location. Additionally, nightclub Clover has debuted an 1,848-square-foot venue, and Upscale Cleaners will open an 824-square-foot location. Fifth Corner is the landlord.

April 28, 2023

Newer Posts

Older Posts