REBusinessOnline

Valore Ventures Sells Triple-Net Leased Outback Steakhouse Property in Southern California

GARDEN GROVE, CALIF. — Valore Ventures has completed the sale of a restaurant property located at 12001 Harbor Blvd. in Garden Grove. A private investor acquired the asset for $6.6 million. Outback Steakhouse occupies the 6,180-square-foot building, which was built in 2001, on a triple-net leased basis. The property is situated a mile from Disneyland and Disney California Adventure and minutes from the Anaheim Convention Center. Valore Ventures originally purchased the property as part …

Acquisitions, California, Net Lease, Restaurant, Retail, Western

Celebrity-Backed Tavern to Open in Downtown Alpharetta in February

ALPHARETTA, GA. — Five Guys Taverns LLC has signed a lease to open Taffer’s Tavern at 33 S. Main St. in historic downtown Alpharetta in February 2020. The location will be the first in the nation for Taffer’s Tavern, which is backed by TV star Jon Taffer. Taffer is the host of “Bar Rescue.” The restaurant will be situated in the Liberty Hall building, directly across the street from City Hall. The building will feature the original bar, which was built in the 1700s and imported from …

Georgia, Leasing Activity, Restaurant, Retail, Southeast

Vitality Bowls to Open First Location in Michigan

GRAND RAPIDS, MICH. — Vitality Bowls is set to open its first location in Michigan. The café, slated to open on Saturday, Nov. 2, is located within the 575,000-square-foot Shops at CenterPoint. Vitality Bowls specializes in acai bowls, including the acai berries and a variety of other superfoods. The restaurant will be open for breakfast, lunch and dinner. There are currently more than 140 Vitality Bowls locations open or in development across the United States. Stonemar Properties owns …

Leasing Activity, Michigan, Midwest, Restaurant, Retail

Taco Bell to Open 2,710 SF Location in Caledonia, Michigan

CALEDONIA, MICH. — Taco Bell will open a 2,710-square-foot location at 6445 Cherry Meadow Drive SE in Caledonia, about 20 miles southeast of Grand Rapids. The restaurant is expected to open in November and create 40 jobs. Mike Murray of Colliers International assisted Taco Bell in securing land for the new-construction building. Wolverine Building Group was the general contractor. There are 55 Taco Bell locations across West Michigan, according to

Development, Michigan, Midwest, Restaurant, Retail

Sign of the Horse Brewery to Open 4,850 SF Pub in Hanover, Pennsylvania

HANOVER, PA. — Sign of the Horse Brewery will open a 4,850-square-foot bar and pub in Hanover, located approximately 35 miles south of Harrisburg. The company will brew and serve fresh beer as well as a full food menu at 979 York St.,  a 12,010-square-foot cement warehouse that was redeveloped into retail space. Tenants at the property  currently include Earling Chiropractic Clinic, pet cremation service Companions at Peace Inc. and apparel retailer Homefield Advantage. Nate Resh and John …

Leasing Activity, Northeast, Pennsylvania, Restaurant, Retail

Taco Bell to Open 2,700 SF Restaurant in Wind Gap, Pennsylvania

WIND GAP, PA. — Taco Bell will open a new 2,700-square-foot restaurant in Wind Gap, located approximately 70 miles north of Philadelphia. The building will be constructed on the former site of the Wind Gap Professional Center and will be the first Taco Bell in the area. Scott Horner of Colliers International brokered the

Development, Northeast, Pennsylvania, Restaurant, Retail

Marcus & Millichap Brokers $4.9M Sale of Restaurant Property in Schaumburg, Illinois

SCHAUMBURG, ILL. — Marcus & Millichap has brokered the sale of a 9,999-square-foot restaurant property net leased to Capital Grille in Schaumburg for $4.9 million. The building is located at 2000 E. Golf Road. The existing tenant has a new 10-year lease in place. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer, a limited liability company completing a 1031 tax-deferred exchange. The seller was not

Acquisitions, Illinois, Midwest, Restaurant, Retail

Sushi-San, Tortazo to Open at Willis Tower’s Catalog

CHICAGO — Willis Tower owner EQ Office has unveiled two new retail tenants for Catalog, the new 300,000-square-foot dining and retail portion under construction at the Chicago office tower. Sushi-San will offer a dine-in experience as well as a grab-and-go station. Guests can customize maki rolls, poke or chirashi bowls at the sushi counter. The Mexican restaurant Tortazo will occupy nearly 3,000 square feet. It is a new concept from Rick Bayless, an award-winning chef. Tortazo is expected to …

Development, Illinois, Midwest, Restaurant, Retail

Gerdom Realty Negotiates Sale of 3,361 SF Restaurant Property in Michigan

COMMERCE TOWNSHIP, MICH. — Gerdom Realty & Investment has negotiated the sale of a 3,361-square-foot restaurant property occupied by Willson’s Pub ’N Grill in Commerce Township, northwest of Detroit. The 146-seat restaurant is located in the Shops at Commerce Village. A local restaurant operator purchased the asset for an undisclosed price. Michael Murphy and Tjader Gerdom of Gerdom represented the undisclosed seller. Willson’s is known for its burgers and

Acquisitions, Michigan, Midwest, Restaurant, Retail

Arby’s Parent Company to Acquire Jimmy John’s

ATLANTA AND CHAMPAIGN, ILL. — Inspire Brands Inc., the parent company of Arby’s, has agreed to acquire Jimmy John’s Gourmet Sandwiches. Terms of the transaction, expected to close by the end of October, were not disclosed. The Jimmy John’s Board of Directors, including founder and chairman Jimmy John Liautaud, unanimously approved the agreement. Jimmy John’s had $2.15 billion in U.S. sales last year across 2,803 stores, a roughly 50 percent increase in both sales and locations …

Acquisitions, Georgia, Illinois, Midwest, Restaurant, Retail, Southeast, Top Stories
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Lee & Associates
RED Capital Group

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