REBusinessOnline

VICI Properties to Acquire Margaritaville Resort Casino in Louisiana for $261M in Cash, Lease to Penn National

BOSSIER CITY, LA. — VICI Properties Inc., an experiential REIT that was recently spun off from Las Vegas-based Caesars Entertainment, has entered into a definitive agreement to acquire the land and real estate assets of the Margaritaville Resort Casino in Bossier City for $261 million in cash. VICI Properties will lease the property to Penn National Gaming Inc., a Pennsylvania-based operator of casinos and racetracks. The triple-net lease will have an initial total annual rent of roughly $23 …

Taqueria Signs Lease to Open Second Location in Metro Kansas City

LENEXA, KAN. — Rudy’s Tenampa Taqueria has signed a lease to open its second location at 8710 Lackman Road in Lenexa. The Mexican restaurant will occupy 4,678 square feet at Country Hill Shopping Center. Other tenants at the property include Rimann Liquors, Ace Hardware, Panera Bread and Sherwin Williams. The original Rudy’s opened in Kansas City in 1993. The opening for the new restaurant is scheduled for mid-August. David Block and Rob Epstein of Block & Co. Inc. Realtors negotiated …

Baker Katz Signs Republic Chicken to New Lease in Beaumont, Texas

BEAUMONT, TEXAS — Houston-based Baker Katz has signed Republic Chicken, a family-style restaurant serving Southern comfort food, to a new lease in Beaumont. Located at the corner of Interstate 10 and U.S. Highway 96, the new 5,443-square-foot location sits on nearly 1.3 acres. Republic Chicken will move from its current location at 797 N. 5th St. in Beaumont. Lunden McGill represented Baker Katz internally in the lease

CBRE Negotiates Sale of 533,116 SF Entertainment District in Metro Phoenix for $133M

GLENDALE, ARIZ. — CBRE has arranged the sale of Westgate Entertainment District, a mixed-use development located near Loop 101 and Glendale Avenue in Glendale. YAM Westgate, a venture formed by Scottsdale-based YAM Properties, purchased the 46.6-acre entertainment, retail and office destination, including 30 acres of undeveloped land, from The New Westgate LLC, formed by iStar Properties. The price was $133 million. Philip Voorhees, Jimmy Slusher, Kirk Brummer, Sean Heitzler, Jesse …

Oaxaca to Open 2.8-Acre Entertainment Venue in West Dallas

DALLAS — Real estate developer and operator Oaxaca Interests will open Nowhere, TX, a 2.8-acre entertainment venue that will be located on a former industrial site in west Dallas. The concept will feature pop-up events and biergarten-style dining with rotating menus. Hocker Design Group designed the three-building venue, which is scheduled to open this

Howard CDM, SteelCraft Break Ground on Outdoor Urban Eatery in Bellflower, California

BELLFLOWER, CALIF. — Developer Howard CDM, along with SteelCraft founder Kimberly Gros and Bellflower Mayor Ray Bunton, has broken ground on SteelCraft Bellflower, an outdoor urban eatery located at 16500 Bellflower Blvd. in Bellflower. Comprised of repurposed shipping containers, SteelCraft Bellflower will feature 12,500 square feet, totaling 14 shipping containers and approximately 400 seats. Studio One Eleven and Turpin Design Group are serving as architect and kitchen designer, …

CoastWood Capital Signs Four New Tenants to 150,000-Square-Foot Outlets of Maui

LAHAINA, HAWAII — CoastWood Capital Group LLC has signed four new tenants to The Outlets of Maui, a 150,000-square-foot, open-air shopping center in Lahaina. Waikiki Brewing Co. will open at the center, joining restaurant tenants such as Ruth's Chris Steak House and PI Artisan Pizza. The 3,940-square-foot brewpub will open this fall. Other tenants that will join the Outlets of Maui include: Kate Spade, which will open a 3,250-square-foot store this fall; Le Creuset, scheduled to open a …

City of Alameda, Alameda Point Partners Break Ground on $1B Mixed-Use Development on Former Naval Air Station

ALAMEDA, CALIF. — The City of Alameda and Alameda Point Partners have broken ground on the first phase of the $1 billion mixed-use, transit-oriented waterfront development at the gateway to Alameda Point, called Site A. The 68-acre Site A development is located on the former Naval Air Station Alameda, which closed more than 20 years ago. Alameda Point Partners is a joint venture between managing partner Trammell Crow Residential, a division of Dallas-based Crow Holdings; commercial …

Diverse Population, UAB Help Retail, Restaurants Expand in Birmingham

It wasn’t until the last five to seven years that college graduates started looking at Birmingham as a place to live and work. Cities like Nashville and Atlanta were getting too expensive and too congested. Upon discovering how progressive Birmingham has become with the revitalization of the downtown area, it became the new hot place to live, play and work. So what was once an untapped market has started to grow with new retailers and restaurants to meet the growing demand. The addition of …

NKF Capital Markets Brokers $97.1M Sale of Mixed-Use Property in La Jolla

LA JOLLA, CALIF. — NKF Capital Markets has brokered the sale of The Campus on Villa La Jolla, a five-building mixed-use campus located at 8910 and 8980 Villa La Jolla Drive in La Jolla. GPI Cos. acquired the campus from La Jolla Village Professional Center Associates for $97.1 million. Kevin Shannon, Brunson Howard, Ken White, Paul Jones and Rick Stumm of NKF Capital Markets represented the seller in the deal. The buyer was self-represented. Situated on 6.8 acres, the …