REBusinessOnline

Bolour Associates Acquires Quick-Serve Restaurant Site in Los Angeles for $7.4M

LOS ANGELES — Beverly Hills, Calif.-based Bolour Associates has purchased 0.69 acres, located at 163-179 S. Vermont St. in Los Angeles’ Koreatown, for $7.4 million. Simultaneous to the acquisition, Bolour signed long-term ground lease with an undisclosed quick-serve restaurant for the site. The site’s new tenant signed a 15-year, triple-net lease and is expected to complete tenant improvements on a standalone 3,209-square-foot building, located on the property, before opening for …

Acquisitions, California, Leasing Activity, Restaurant, Retail, Western

Locker Realty Corp. Arranges $6.2M Acquisition of Starbucks-Occupied Building in California

MONROVIA, CALIF. — Locker Realty Corp. has arranged the purchase of a restaurant and drive-thru property located West Huntington Drive in Monrovia. An undisclosed buyer acquired the property for $6.2 million. Starbucks Coffee occupies the recently completed, 2,200-square-foot building, which is situated on 27,975 square feet of land. The tenant relocated to the new location, which includes a drive-thru and outdoor patio, from 621 W. Huntington Drive. The lease is a corporate signature …

Acquisitions, California, Restaurant, Retail, Western

Social Syndicate Signs $2.4M Retaurant Lease in San Diego

SAN DIEGO — Location Matters has arranged a $2.4 million, 10-year lease for Social Syndicate, a San Diego-based multi-concept restaurant group, for a space at 1852 Bacon St. in the Ocean Beach neighborhood of San Diego. Nati’s Mexican Restaurant had occupied the freestanding restaurant building for nearly 60 years before the Social Syndicate lease. The new restaurant will also carry a Mexican theme. Nati’s Inc., which is controlled by Foley Development, owns the property. Future plans …

California, Leasing Activity, Restaurant, Retail, Western

Captain D’s Opens Sixth Location in Illinois

CARBONDALE, ILL. — Captain D’s has opened its sixth Illinois location in Carbondale. Located at 1040 E. Walnut St., the company-owned restaurant spans 1,950 square feet. With 290 company-owned locations, Captain D’s plans to continue its growth in various territories, including the Midwest, with another restaurant slated to open in Wisconsin later this year. There are currently 544 open and operating Captain D’s restaurants throughout the

Development, Illinois, Midwest, Restaurant, Retail

Location Matters Arranges 10-Year Lease for Restaurant Property in Downtown San Diego

SAN DIEGO — Location Matters has brokered a lease for the relocation of McFadden’s Restaurant & Saloon in San Diego. The restaurant recently shuttered its original location to make way for the development of an AC Hotels by Marriott property and signed a 10-year lease, valued at $3.8 million, for a corner restaurant location in downtown San Diego. McFadden’s Restaurant & Saloon will occupy a 7,932-square-foot property, including approximately 4,500 square feet of basement space, at …

California, Leasing Activity, Restaurant, Retail, Western

Largest Rooftop Deck Opens Atop Chicago’s Navy Pier

CHICAGO — Offshore, a 52,300-square-foot rooftop deck, has opened on the third floor of Chicago’s Navy Pier. The Guinness Book of World Records has named the establishment “the world’s largest rooftop deck.” The deck includes a bar, kitchen, terraces, seven fire pits, an entrainment and gaming area and multiple gathering spaces. Culinary direction for Offshore is led by Executive Chef Michael Shrader. Modern American cuisine is served as small, shareable plates. Clay Livingston, …

Development, Illinois, Midwest, Restaurant, Retail

Ex-Football Coach Steve Spurrier to Open Restaurant Within Celebration Pointe in Gainesville

GAINESVILLE, FLA. — Former University of Florida football coach Steve Spurrier is seeking a partner for a new restaurant in Celebration Pointe in Gainesville. The new restaurant will be called “Spurrier’s” and is expected to open in 2020. The selected partner will have a $1 million build-out budget and the ability to influence the final menu and décor, as well a salary and/or equity in the restaurant. The partner will be named later this year. Celebration Pointe is a 160-acre mixed-use …

Development, Florida, Restaurant, Retail, Southeast

SRS Arranges $1.7M Ground Lease Sale of Property Occupied by Texas Roadhouse in Flint, Michigan

FLINT, MICH. — SRS Real Estate Partners has arranged the ground lease sale of a 7,163-square-foot property occupied by Texas Roadhouse in Flint for $1.7 million. Constructed in 2015, the building is located at 4140 Miller Road. The triple net lease has approximately 13 years remaining on the initial term. Dan Elliot and Sean Lutz of SRS represented the seller, JSNT Real Estate LLC. Richmond Properties IV LLC purchased the property. The cap rate was 5

Acquisitions, Michigan, Midwest, Restaurant, Retail

Sudberry Properties Breaks Ground on The Hub at Scripps Ranch Mixed-Use Project in San Diego

SAN DIEGO — Sudberry Properties has started construction of The Hub at Scripps Ranch, a mixed-use redevelopment project located at 9850 Carroll Canyon Road in San Diego’s Scripps Ranch submarket. Situated on 9.5 acres, The Hub will features 260 apartments and 10,700 square feet of retail and restaurant space. The property is slated to open in phases, with the first apartments and commercial spaces available for occupancy in the fourth quarter of 2020. The Hub will consist of five …

California, Development, Mixed-Use, Multifamily, Restaurant, Retail, Western

Primior to Break Ground on First Harbor Plaza Mixed-Use Project in Santa Ana, California

SANTA ANA, CALIF. — Primior is scheduled to break ground on First Harbor Plaza, the firm’s mixed-used development in Santa Ana, on June 26. Located at the intersection of North Harbor Boulevard and West First Street, the two-building First Harbor Plaza will offer 40,129 square feet of restaurant, retail, office and medical office space. Building 1 features 14,400 square feet in two large anchor suites and five smaller spaces on the first floor and the same configuration on the second …

California, Development, Healthcare, Mixed-Use, Office, Restaurant, Retail, Western
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