Restaurant

WOODSTOCK, GA. — SRS Real Estate Partners has brokered the $3 million ground lease sale of a newly built restaurant property located at 9893 Highway 92 in Woodstock, about 30 miles northwest of Atlanta. Raising Cane’s occupies the property on a 15-year, corporate guaranteed lease. Michael Berk, Patrick Nutt and William Wamble of SRS represented the seller, Brentwood, Tenn.-based Warren Commercial Real Estate, in the transaction. The buyer was a private investor based in California.

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CanalSide-Cambridge

CAMBRIDGE, MASS. — New England Development will open CanalSide Food + Drink, a new food hall in Cambridge, this fall. Situated within the developer’s CambridgeSide mixed-use development, the food hall will feature a bar — dubbed C-Side Bar — as well as 14 eateries. Announced concepts include anoush’ella, Caffé Nero, Chilacates, DalMoros Fresh Pasta To Go, Fresh, InChu, Lala’s Neapolitan-ish Pizza, Nu Burger, Sapporo Ramen and Teazzi Tea Shop. RODE Architects designed the food hall, and Whiting-Turning is serving as the general contractor.

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The retail sector in South Florida is undergoing adjustments that reflect the region’s dynamic economic landscape and evolving consumer preferences. One notable trend is evident in the restaurant sector, where owners increasingly aim to expand by opening new locations and entering lucrative markets.  This trend is primarily driven by consumer spending, particularly the continual growth of Miami’s tourism industry. Visitors directly inject capital into the local economy, leading to increased disposable income that often circulates back through experiential commerce such as restaurant sales. A clear indicator of the local market’s strength is the ongoing rise in rental asking rates, significantly surpassing national averages. A robust 4.6 percent upturn in asking rent this year, as reported by CoStar Group, demonstrates retailers’ ability not just to survive but to thrive in a market with elevated asking prices compared to the rest of the state.  This upward trend in rent is accompanied by a low 2.8 percent vacancy rate, according to CoStar data, indicating a competitive landscape where profitable lease opportunities are increasingly scarce for tenants. The retail sector within the restaurant industry continues to thrive, showing significant activity and heightened interest. The influx of high-net-worth individuals and a post-pandemic resurgence in immigration …

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WATERTOWN, MASS. — Boylston Properties and Wilder Cos. have welcomed seven new tenants to Arsenal Yards, a mixed-use destination located roughly 10 miles outside Boston that is a redevelopment of a former mall. J.Crew Factory and Jersey Mike’s Subs are now open at the property. Additionally, Butterbird, Splash and Dash, Marvelous Cuts, Medium Rare and Squeeze Massage are scheduled to open later this year. Arsenal Yards totals more than 1 million square feet and features life sciences, residential and hospitality uses, in addition to retail and restaurant space.

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PEACHTREE CITY, GA. — Six new tenants have signed leases at The Avenue Peachtree City, an open-air shopping center located in Peachtree City, approximately 40 miles outside Atlanta. Beignets and Brew is now open at the property, with HOBNOB Neighborhood Tavern scheduled to open a 5,781-square-foot restaurant later this month. Kendra Scott, Motivate Studios and 9292 Korean BBQ have also signed leases at the center and will occupy 2,000; 2,000; and 8,015 square feet, respectively, beginning this summer. Additionally, Arhaus will open a 7,085-square-foot store at The Avenue Peachtree City later this year. JLL manages the property on behalf of the owner, Memphis-based Poag Development Group.

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WESTLAKE, TEXAS — Terra Lounge has opened a 2,400-square-foot bar and restaurant at The Terraces, an eight-building, 1.1 million-square-foot office complex located north of Fort Worth in Westlake. Terra Lounge, which can accommodate about 100 people, offers beer, wine and cocktails, as well as appetizers, salads and gourmet pizzas. Chicago-based Glenstar purchased the property, which is home to office users like Goosehead Insurance and ECI Software Solutions, in 2019.

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ATLANTA — Atlanta-based fast-casual brand Chick-fil-A will open four new restaurants in metro Miami. Chick-fil-A has broken ground on the first of the units, a Cutler Bay restaurant that will span 4,800 square feet. Dustin Griffiths of Chick-fil-A and David Emihovich of Katz & Associates represented Chick-fil-A in the lease negotiations. Michael Berkowitz of Berkowitz Development Group and Douglas Landsea of Landsea Development are the landlords. Development is scheduled to begin on three additional restaurants — which will be located in Miami Shores, Pinecrest and Princeton — later this year.

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KING OF PRUSSIA, PA. — Simon Property Group has welcomed five new food-and-beverage concepts to King of Prussia mall in metro Philadelphia. Vietnamese restaurant Saigon Eats and confectionary Neuhaus Belgium Chocolate recently debuted their eateries. Chinese restaurant Nan Xiang Xiao Long Bao and New York-based Gregory’s Coffee will open in the coming weeks. Chicken Guy!, a concept from celebrity chef Guy Fieri, opened in March.

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ORLANDO, FLA. — The Cordish Cos. has announced plans for a 73,000-square-foot dining and entertainment destination in Orlando. Dubbed Live! at the Pointe Orlando, under the company’s hospitality and entertainment brand, the property will feature a 4,800-square-foot cocktail lounge; 4,600-square-foot bar; and anchor venues Sports & Social and PBR Cowboy Bar. Sports & Social, a restaurant and bar concept, will span 11,700 square feet across two levels, with an LED display for viewing sporting events and social games including skee-ball, foosball, arcades games and shuffleboard. The 8,400-square-foot PBR Cowboy Bar will feature multiple signature bars, private VIP booths and a mechanical riding bull. Live! at the Pointe Orlando is scheduled to open this fall.

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HOUSTON — Midway and TriGate Capital have welcomed four new tenants to CITYCENTRE, a 47-acre mixed-use development in West Houston. Three apparel retailers — American Threads, Rowan and Southern Tide — have signed leases ranging in size from 1,000 to 1,800 square feet with plans to open this summer. Additionally, Star Cinema Grill has officially opened in the former Studio Movie Grill space.

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