Skanska Sells Majority Stake in Seattle Mixed-Use Tower for $669M, Nation’s Largest Single-Property Trade Since Pandemic

SEATTLE — Skanska has sold a 95 percent stake of 2+U, a 38-story mixed-use tower in downtown Seattle. South Korea-based Hana Alternative Asset Management and parent firm Hana Financial Group purchased the majority interest from the Swedish developer for $669 million. According to Skanska, the sale of 2+U is the largest single-property commercial real estate transaction in the United States since the pandemic began.Office tenants at 2+U include job search giant, tech firm …

KLNB Arranges Four Retail Leases at The Can Company Building in Baltimore

BALTIMORE — KLNB has brokered four retail leases totaling 9,000 square feet within The Can Company building in Baltimore’s Canton neighborhood. Ryan Wilner led the KLNB team that represented the landlord, a joint venture between MCB Real Estate, Angelo Gordon and JMC Holdings LLC, in all four transactions. The new tenants include HalfSmoke, Kisner’s Salon & Barber, uBreakiFix and AllCare Family Medicine and Urgent Care.HalfSmoke is a Washington, D.C.-based restaurant that will …

Darden Restaurants Reports 19.4 Percent Decline in Fiscal Second-Quarter Revenue

ORLANDO, FLA. — Darden Restaurants Inc. (NYSE: DRI) has reported a 19.4 percent decline in total year-over-year revenues during its fiscal year 2021 second quarter, the company said Friday. Orlando-based Darden’s second quarter ended Nov. 29 with $1.66 billion in total revenue compared with $2.06 billion in fiscal second-quarter 2020. Darden owns restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama …

Webinar: New Mexico Retail Outlook — What Will New Mexico Retail Activity Look Like in 2021?

The "New Mexico Retail Outlook — What Will New Mexico Retail Activity Look Like in 2021?​" webinar, hosted by Shopping Center Business and Western Real Estate Business, covers the creative approaches taken retailers responding to COVID-19. Learn what retailers, restaurants and developers need to thrive and what our panelists anticipate for New Mexico retail in the near future.Development, trends, the shift to omnichannel business and much more make up this fascinating, …

CenterCal Properties Selects General Contractor for Phase II of Mountain View Village Project in Utah

RIVERTON, UTAH — Developer CenterCal Properties has selected Okland Construction to build the second phase of Mountain View Village Phase II, an 85-acre lifestyle development in Riverton.The second phase will include five pocket parks with unique amenities; show fountains; a covered market hall-style pavilion with a collection of eateries and common indoor and outdoor seating; a 14-screen Cinemark movie theater complex; and retail, restaurant and commercial spaces.The first phase …

DoorDash Stock Soars 86 Percent on Market Debut, Closes at $60.2B

SAN FRANCISCO — DoorDash, a technology-based food delivery company, debuted on the New York Stock Exchange on Wednesday, Dec. 9 offering its initial public offering at $102 per share, which was above its previous range of $90 to $95. The company closed its first day of trading with an 86 percent increase in pricing to $189.51, for a total valuation of $60.2 billion, or 17 times revenue.The San Francisco-based door-to-door delivery service focuses primarily on restaurant deliveries, which …

Starbucks Predicts 20 Percent Growth by 2022, Market Cap Climbs to $122B

SEATTLE — Starbucks (NASDAQ: SBUX) has predicted a resurgence in its cafes and customer demand for its coffee by 2022, forecasting a growth of more than 20 percent by fiscal 2022.With this news, shares of the Seattle-based coffee roaster and retailer jumped more than 4 percent in extended trading. The stock, which has a market value of $122 billion, has increased 18 percent so far this year.Pat Grismer, CFO, reaffirmed the company’s fiscal 2021 forecast with adjusted earnings per …

Michigan Department of Health Extends Restrictions on Indoor Gatherings Through Dec. 20

LANSING, MICH. — The Michigan Department of Health and Human Services (MDHHS) has extended its order restricting indoor social gatherings and group activities by 12 days through Dec. 20. The department says the extension will enable it to determine the full impact of the Thanksgiving holiday on the spread of COVID-19 across the state.Under the order, residents are urged to avoid indoor gatherings, with only two households gathering inside at any given time. Bars and restaurants must …

Mooyah Burgers to Debut 10 Restaurants in Dallas-Fort Worth, Create 250 Jobs

PLANO, TEXAS — Mooyah Burgers, Fries & Shakes, a Plano-based fast casual concept, will open 10 new restaurants throughout the metroplex, an expansion that is expected to create about 250 new jobs. All 10 of these locations will feature the brand's new prototype with new dining zones, digital menus, a grab-and-go bottled beverage fridge and to-go shelving. Mooyah currently operates about 75 restaurants across 23

JLL Brokers $2.5M Sale of Raising Cane’s Ground Lease in Batavia, Illinois

BATAVIA, ILL. — JLL Capital Markets has brokered the $2.5 million sale of a Raising Cane’s Chicken Fingers ground lease in Batavia within suburban Chicago. The 3,343-square-foot, single-tenant retail building sits on one acre at 1998 McKee St. Construction of the building was completed this year. Alex Sharrin and Alex Geanakos of JLL represented the seller, Kensington Development Partners. A family trust was the buyer. Raising Cane’s has more than 520 restaurants in 28

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