REBusinessOnline

Marcus & Millichap Brokers $2.2M Sale of Habit Burger Grill-Occupied Building in Phoenix

PHOENIX — Marcus & Millichap has arranged the sale of a restaurant property located at 745 E. Glendale Ave. in Phoenix. A limited liability company sold the asset to a personal trust for $2.2 million.Habit Burger Grill occupies the 1,891-square-foot building, which was built in 1973, on a net-lease basis.Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller and procured the buyer in the

Foothill Partners, Belay Investment Buy 209,000 SF Redevelopment Project in Sparks, Nevada

SPARKS, NEV. — A joint venture between Foothill Partners and Belay Investment Group has purchased a vacant, 209,000-square-foot former Lowe’s Home Improvement Warehouse property in Sparks for an undisclosed price. The partnership plans to redevelop the site into an environmental, social and corporate governance, arts-based technology, flex and research and development campus named The Oddie District.Located at 2450 Oddie Blvd., the vacant property will be repurposed into creative …

Parkview Provides $28M Construction Loan for Verde at Cooley Lifestyle Center in Gilbert, Arizona

GILBERT, ARIZ. — Parkview Financial has provided a $28 million construction loan to Scottsdale-based Verde Gilbert LLC for the development of Verde at Cooley Station, a lifestyle center located at 17201-17361 E. Williams Field Road in Gilbert. Verde Gilbert LLC is a joint venture between three development companies led by SB2 Communities.Upon completion, the 10-building, 96,000-square-foot property will offer 44,000 square feet of retail space, 13,000 square feet of office space, 31,000 …

Boulder Group Brokers $1.2M Sale of Restaurant Property in Des Moines

DES MOINES, IOWA — The Boulder Group, a net-lease investment brokerage firm, has brokered the sale of a restaurant property occupied by Fazoli’s in Des Moines for $1.2 million. The 3,350-square-foot building is located at 3600 Merle Hay Road. Randy Blankstein and John Feeney of Boulder represented the seller, an undisclosed investment firm based in Texas, in the transaction. A Midwest-based investor was the buyer. Fazoli’s, an American fast-casual restaurant chain, has more than 10 years …

Now that the Dust is Settling – The Future of Retail in a Post-Pandemic World

By Carlos Lopez, Executive Vice President, Hanley Investment Group Real Estate AdvisorsThe fears from the COVID-19 pandemic and the accompanying government-mandated shutdowns and social distancing measures transformed the way Americans, lived, worked, shopped, ate, exercised and watched movies. In many ways, the habits formed during the shutdowns have opened up opportunities to radically change many aspects of life.For the retail industry, the impact of COVID-19 in 2020 was profoundly …

Food & Beverage Industry Returns to Growth Mode in Houston

By Jason Baker, principal, Baker Katz At a time when commercial real estate professionals see promising COVID-19 metrics and a better-than-expected vaccine rollout as signs that the end of the pandemic is near, it’s natural to examine where some of the most interesting and encouraging signs of recovery are already popping up. Food and beverage (F&B) has certainly weathered the pandemic storm as well as any other retail sector. Understanding what comes next in F&B — what the next …

Wood Investments Buys Kings Canyon Pavilion Shopping Center in Fresno, California for $11.8M

FRESNO, CALIF. — Wood Investments Cos. has purchased Kings Canyon Pavilion, a 152,354-square-foot shopping center at 4965 E. Kings Canyon Road in Fresno. Los Angeles-based Decrom Properties sold the asset for $11.8 million.99 Cents Only anchors the retail center, which was 91 percent occupied at the time of sale. Other tenants at the property include O’Reilly Auto Parts, Cricket Wireless Authorized Retailer, Corina’s Taqueria, an indoor family entertainment complex, No Surrender …

Shasta Management to Open 100-Acre Cannabis Retail, Manufacturing Project in Imperial County

HEBER, CALIF. — Shasta Management has signed a long-term lease for 100 acres of mixed-use space at the northeast corner of State Route 111 and East Heber Road in Imperial County’s Heber. The company plans to open a cannabis campus on the site with retail and manufacturing space.The first phase of the complex is scheduled to open in mid-June with a 9,000-square-foor retail center, including two 2,000-square-foot retail dispensaries along with a 5,000-square-foot consumption lounge and …

Panera Bread Unveils New Restaurant Design Catered to Changing Post-Pandemic Consumer Needs

ST. LOUIS — Panera Bread has unveiled a new restaurant design featuring increased drive-thru and pick-up access, technological offerings including contactless meal pick-up and an updated dine-in experience in response to COVID-19.The company is the latest chain to announce a refreshed design adapted to the changing needs of consumers during the pandemic. The first next-generation Panera Bread is set to open in the St. Louis suburb of Ballwin this November and will include: An open …

Rosé Bistro & Champagne Bar to Open at Atlantic Station in West Midtown Atlanta

ATLANTA — Rosé Bistro & Champagne Bar, a Parisian cuisine and wine bar concept, is set to open this fall at Atlantic Station, the 138-acre retail, restaurant and entertainment destination in West Midtown Atlanta. Located at 232 19th St., the bistro will feature a wine list and French dishes for brunch, dinner and light bites. Houston-based Hines is the property management firm at Atlantic Station.Situated near Atlantic Green, Rosé Bistro & Champagne Bar will offer a raw bar, …

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