Retail Reboot Webinar: Wave of Second-Generation Restaurant Space to Hit Atlanta Market

As many as 150,000 to 200,000 restaurants nationwide may never fully reopen again after the COVID-19 pandemic subsides, according to estimates from the National Restaurant Association. This represents 15 to 20 percent of all U.S. restaurants. Though the metro Atlanta area’s restaurants have been allowed to reopen their dining rooms for a full two weeks following Georgia Gov. Brian Kemp’s directives in late April, early indications are that a large swath of operators are choosing to keep …

Starbucks to Reopen More Than 85 Percent of Stores Nationwide by May 9

SEATTLE — This week, Seattle-based Starbucks started reopening its company-operated stores across the United States. Operating under modified operations and hours, including heightened safety protocols, the company plans to have more than 85 percent of stores opened by May 9 and expects to have more than 90 percent of stores open by early June. The company is using its experience in China, where more than 98 percent of its store are open and operating under revised protocols, as the …

Landlords, Retailers in Metro Atlanta Impacted by COVID-19 Seek Middle Ground in Lease Negotiations

The financial impact the COVID-19 economic shutdown is having on tenants and landlords is a difficult mix of immediate drastic reduction (or elimination) of revenue, along with little or no ability to forecast when the end will come. This combination of severity and unclear duration makes finding potential win-win compromises a real challenge for tenants and landlords in the metro Atlanta area. [caption id="attachment_261983" align="alignright" width="100"] Greg Eisenman, Franklin …

Hanley Investment Group Brokers $2.9M Sale of Starbucks-Occupied Retail Asset in El Centro

EL CENTRO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly built, single-tenant retail property located at 2033 N. Imperial Ave. in El Centro. Encinitas, Calif.-based Becker Development sold the building to a Los Angeles-based private investor for $2.8 million, or $1,089 per square foot. Starbucks Coffee occupies the 2,625-square-foot, drive-thru property, which was built in 2019. The asset is located at the signalized entrance to a Target- and …

Longtime Atlanta Restaurant Broker Harold Schumacher Dies at Age 72

ATLANTA — Harold Schumacher, founder of The Schumacher Group in Atlanta, died Saturday at the age of 72. Schumacher attended Michigan State University and moved to Atlanta as a public school teacher in the 1970s. He worked part-time as a restaurant critic for The Atlanta Journal-Constitution. Schumacher worked at The Shopping Center Group, now known as TSCG, as a broker for four years before founding The Schumacher Group in 1991. Some of Schumacher’s major clients include Verizon …

Marcus & Millichap Brokers $4.3M Sale of Panera Bread-Occupied Property in Joliet, Illinois

JOLIET, ILL. — Marcus & Millichap has brokered the sale of a 5,077-square-foot retail property net leased to Panera Bread in Joliet for $4.3 million. The building is located at 2400 W. Jefferson St. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a developer. Karly Iacono of Marcus & Millichap’s New Jersey office represented the buyer, a limited liability company completing a 1031 tax-deferred

Marcus & Millichap Brokers $2.1M Sale of Starbucks-Occupied Asset in Fort Mohave, Arizona

FORT MOHAVE, ARIZ. — Marcus & Millichap has arranged the sale of a retail property located at 4751 Highway 95 in Fort Mohave. A limited liability company sold the property to a private investor for $2.1 million. Mark Ruble, Jamie Medress and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller, while Andrew Irvine of Marcus & Millichap’s Ontario, Calif., office procured the buyer in the deal. Starbucks Coffee occupies the 2,021-square-foot property, …

Roark Capital Invests $200M in The Cheesecake Factory Amid Pandemic-Related Closures

ATLANTA AND CALABASAS HILLS, CALIF. — Roark Capital Group, a private equity firm based in Atlanta, has invested $200 million in The Cheesecake Factory Inc. (Nasdaq: CAKE), owner and operator of the chain of restaurants of the same name. The Calabasas Hills-based company also owns and operates the North Italia chain, as well as a collection of restaurants within the Fox Restaurant Concepts subsidiary. The funds will be used to immediately help The Cheesecake Factory navigate the COVID-19 …

Barber Murphy Negotiates 1,381 SF Lease for Papa John’s in O’Fallon, Illinois

O’FALLON, ILL. — Barber Murphy has negotiated a 1,381-square-foot retail lease for Papa John’s USA Inc. in O’Fallon near St. Louis. OHM Family Enterprises LLC is the landlord for the property, which is located at 105-106 Regency Park Plaza Drive. Barber Murphy represented both parties in the

Winlee Development Sells Two Buildings at Chandler Viridian Primegate in Arizona for $12.8M

CHANDLER, ARIZ. — Winlee Development has completed the disposition of the last component of Chandler Viridian Primegate for $12.8 million. The sale, which included both of the recently completed Thirsty Lion and Charles Schwab flagship buildings, consummates the phased sale of the four-building project for a total of $20.8 million, or approximately $870 per square foot. All of the buildings featured single-tenant leases. The other components are the Panera building, which sold for $4.3 …

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