REBusinessOnline

GPS Hospitality Opens 3,600 SF Burger King in Roseville, Michigan

ROSEVILLE, MICH. — GPS Hospitality Inc. has opened a new Burger King restaurant at 26640 Gratiot Ave. in Roseville, just south of I-696. Burger King occupies approximately 3,600 square feet on a 1.3-acre site. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented GPS Hospitality in the lease transaction. Founded in 2012, GPS Hospitality is a Burger King, Pizza Hut and Popeyes franchisee, operating more than 475

CCR North Starts Construction of Phase II at Crismon Gateway Village in Mesa, Arizona

MESA, ARIZ. — CCR North LLC has started construction on Phase II of Crismon Gateway Village, an approximately $40 million mixed-use project situated at the northeast corner of Crismon and Baseline roads in Mesa. The second phase will bring a mix of tenants, including Martin Dental, Vantage West and Sassy’s Café & Bakery. Current tenants include Black Rock Coffee, Bella Nail Bar, Filiberto’s, Radius Fitness and Doc’s Artisan Ice Cream. Upon completion, the master-planned …

Valore Ventures Sells Oggi’s Pizza & Brewery Site in Garden Grove, California

GARDEN GROVE, CALIF. — Valore Ventures has completed the disposition of an Oggi’s Pizza & Brewery location at 12362 Chapman Ave. in Garden City. The restaurant’s franchisee, a local private investor, acquired the property for an undisclosed sum. The 6,500-square-foot restaurant is part of a four-property, fee-simple restaurant portfolio that Valore Ventures acquired in January. Built between 2001 and 2008, the restaurants are part of a larger development that includes three …

Velvet Taco Opens First Restaurant in Atlanta

ATLANTA — Velvet Taco has opened its first Atlanta restaurant in Buckhead. The 2,500-square-foot establishment is situated at 77 W. Paces Ferry Road within a Whole Foods Market-anchored shopping center. The late-night joint offers a variety of chicken, beef, pork, fish and vegetarian tacos as well as brunch options. Velvet Taco expects to open a second Atlanta location next year at the Interlock development in West Midtown, according to local media. Based in Dallas, the brand also operates …

Six Retailers Sign Leases on Miami Beach’s Lincoln Road

MIAMI BEACH, FLA. — The Lincoln Road Business Improvement District (BID) has executed six leases with retailers and restaurants to occupy space on Lincoln Road, Miami Beach’s high street for upscale retail, restaurants and entertainment. Brandy Melville, a women’s clothing shop catering toward Gen Z shoppers, opened its 2,500-square-foot shop at 730 Lincoln Road in late August. Located at 810 Lincoln Road, Pele Soccer is a 7,000-square-foot store that features a turf surface for consumers …

Michigan Ranks Fourth in Nation for Most Craft Breweries, Says CBRE

MICHIGAN — Craft beer has become big business in Michigan, especially in the Detroit area, where breweries have expanded by 680,000 square feet since 2010, according to a report from CBRE. In 2017, the craft brewing industry contributed $76.2 billion to the U.S. economy. Of that amount, the total craft beer industry in Michigan contributed nearly $2.5 billion — ninth highest in the nation. In total, the state is home to 330 craft breweries, ranking it fourth in the nation by the number of …

Tropical Smoothie Cafe to Open 800th Location

ARLINGTON HEIGHTS, ILL. — Tropical Smoothie Cafe, a fast-casual concept known for its smoothies and tropical food, is opening its 800th location. The restaurant, located at 115 W. Rand Road in Arlington Heights, is set to open this Friday, Sept. 6. Tropical Smoothie Cafe has grown at a rapid pace this year, opening its 750th location in May. Existing franchisee Hani Halloun, along with first-time franchisees Edward Joubran and Martin Khoshaba, will own and operate the new Arlington Heights …

Progressive Real Estate Partners Brokers $2.3M Sale of Restaurant Asset in Inland Empire

BEAUMONT, CALIF. — Progressive Real Estate Partners has facilitated the sale of a restaurant property, located at 501 E. Fifth St. in Beaumont. A private Riverside-based investor sold the property to San Jose-based private investor for $2.3 million, or $1,006 per square foot. Built in 2008, the 2,250-square-foot building, which features a drive-thru, recently underwent a renovation. Popeyes Louisiana Kitchen occupies the single-tenant property. Greg Bedell of Progressive Real Estate …

Fore Property Acquires Mixed-Use Development Site in Downtown Phoenix for $9.3M

PHOENIX — Fore Property has purchased of the former O’Neil Printing facility, located at 366 N. Second Ave. in downtown Phoenix, for $9.3 million. The development site consists of 2.6 acres with three sides of street frontage. The buyer plans to develop a high-end, mixed-use project on the site. Totaling 285,000 square feet, the seven-story development will feature 323 apartments in a mix of studio, one- and two-bedroom layouts, as well as ground-floor retail and restaurant space, a …

Marcus & Millichap Brokers $1.2M Sale of Restaurant Building in Portland

PORTLAND, ORE. — Marcus & Millichap has arranged the sale of a restaurant property located at 704 NW 21st Ave. in Portland. A limited liability company sold the asset to a private investor for $1.2 million in an off-market transaction. Bhuna, a fast-casual Indian restaurant, occupies the 1,878-square-foot property on a net-leased basis. Joseph Blatner and Scott Logan of Marcus & Millichap’s Portland office represented the seller. Michael Shall, also of Marcus & Millichap, …

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