ST. LOUIS — Panera Bread has unveiled a new restaurant design featuring increased drive-thru and pick-up access, technological offerings including contactless meal pick-up and an updated dine-in experience in response to COVID-19. The company is the latest chain to announce a refreshed design adapted to the changing needs of consumers during the pandemic. The first next-generation Panera Bread is set to open in the St. Louis suburb of Ballwin this November and will include: An open kitchen with ovens in full view of restaurant guests; dual drive-thru and dedicated rapid pick-up lanes in order to enhance the dine-out process; the addition of contactless dine-in and delivery options with mobile notifications to guests when their meals are prepared; updated ordering kiosks and automated loyalty identification; a fully-digitized menu; the introduction of an updated Panera Bread logo; and an enhanced interior design with increased wayfinding to exterior seating at the cafe. “We’re doubling down on what has always made Panera unique — creating human connection through caring associates and a warm, inviting environment filled with the smell of freshly-baked bread — while continuing to be a leader in digital access for the off-premise world,” says Eduardo Luz, chief brand and concept officer at …
Restaurant
ATLANTA — Rosé Bistro & Champagne Bar, a Parisian cuisine and wine bar concept, is set to open this fall at Atlantic Station, the 138-acre retail, restaurant and entertainment destination in West Midtown Atlanta. Located at 232 19th St., the bistro will feature a wine list and French dishes for brunch, dinner and light bites. Houston-based Hines is the property management firm at Atlantic Station. Situated near Atlantic Green, Rosé Bistro & Champagne Bar will offer a raw bar, indoor and outdoor dining and a full bar with cocktails including rosé champagne punch and French 75. The 1,634-square-foot bistro is the newest restaurant to join the tenant mix at Atlantic Station. With additional tenants to be announced, Atlantic Station plans to open tenants such as Azotea Cantina, LINDBERGH and Toscano Ristorante Italian this year. Another current tenant is the Regal Atlantic Station, which just opened back up after being closed since October 9, 2020 due to COVID-19.
Marcus & Millichap Brokers $2.2M Sale of Rally’s-Occupied Restaurant Space in Rialto, California
by Amy Works
RIALTO, CALIF. — Marcus & Millichap has brokered the sale of a restaurant property located at 466 E. Foothill Blvd. in Rialto. A limited liability company sold the asset to an undisclosed buyer for $2.2 million. Rally’s occupies the 1,086-square-foot property, which was built in 2020, under a new 15-year absolute triple-net lease. The property features double drive-thru lanes. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller, while Matthew Luchs of Marcus & Millichap’s Ontario, Calif., office served as broker of record in the transaction.
HUMBLE AND SPRING, TEXAS — EDGE Realty Partners has negotiated two restaurant leases totaling 4,913 square feet on the northern outskirts of Houston. Dave’s Hot Chicken signed a lease to open a 2,995-square-foot restaurant at Spring Town Center in Spring, and Teriyaki Madness inked a deal for a 1,918-square-foot space at West Lake Crossing in Humble. In the first transaction, Debbie Adams of EDGE Realty represented Dave’s Hot Chicken, and Kevin Sims of NewQuest Properties represented the unnamed landlord. In the second deal, Kathy King of EDGE represented Teriyaki Madness, and Brett Strake of NewQuest Properties represented the undisclosed landlord.
CHESTERFIELD TOWNSHIP, MICH. — Hanley Investment Group Real Estate Advisors has brokered the $2.4 million sale of an Olive Garden ground lease in Chesterfield Township, about 30 miles north of Detroit. The 7,757-square-foot restaurant property, located at 27169 23 Mile Road, opened in the fall of 2020. The single-tenant building is situated on an outparcel directly in front of a Meijer supermarket. Jeff Lefko and Bill Asher, in conjunction with ParaSell Inc., represented the buyer, a Southern California-based 1031 exchange buyer. Phil Sambazis of Marcus & Millichap represented the seller, a Detroit-based investor. There are 10 years remaining on the ground lease.
By Adam Frank, president, River Oaks Properties As one of the sector’s largest owners and developers, we have been witness to a number of uplifting and heartbreaking outcomes wrought by COVID-19 in the El Paso retail market over the last year. We’ve spent countless hours working with the 800 or so tenants that comprise our portfolio, negotiating rent deferrals and restructured leases, helping them navigate the newly launched Paycheck Protection Program and devising creative real estate solutions to help keep their businesses afloat. In some cases, these efforts have helped tenants keep their doors open. In others, the economic impacts of COVID-19 ultimately hit the employee bases and operating budgets of tenants — especially those of the mom-and-pop variety — too harshly for them to survive. But through the good, bad and universally unprecedented challenges of 2020, we have seen one category of retail — food and beverage — position itself as the clear leader in the recovery and inevitable return to growth of the broader El Paso market. As is often the case during economic downturns, the grocery sector has performed well over the past year, with both large- and small-format players looking to expand in El Paso. River …
NEWPORT BEACH, CALIF. — Chipotle Mexican Grill (NYSE: CMG) is increasing its restaurant wages, resulting in an $15 average hourly wage by the end of June, according to the Newport Beach-based company. Additionally, the Chipotle employees can advance to a “restaurateur” status, the highest general manager position, in approximately three-and-a-half years, with average compensation of $100,000. Wage increases for new and existing hourly and salaried restaurant employees will be rolled out over the next few weeks and will result in hourly crew member starting wages ranging from $11 to $18 per hour. The company has also launched a $200 employee referral bonus for crew members and a $750 referral bonus for apprentices and general managers. With approximately 200 restaurants slated to open this year coupled with continued growth and demand, Chipotle plans to hire 20,000 new team members across the United States. The company will host a virtual career fair on Discord on May 13.
Progressive Real Estate Brokers $1.3M Sale of Retail Building in Apple Valley, California
by Amy Works
APPLE VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a retail property located at 20152 US Highway 18 in Apple Valley, approximately 90 miles northeast of Los Angeles. An Orange County-based private investor sold the property to a Riverside County-based investor for $1.3 million. Little Caesars Pizza occupies a portion of the recently renovated, 4,995-square-foot building. Roxy Klein of Progressive Real Estate Partners represented the seller in the deal.
LELAND, N.C. — Capstone Land Sales has brokered the $5.8 million sale of a 22.5-acre multifamily development site in Leland. The buyer, Atlanta-based Hathaway Development, will break ground later this year at the site for Exchange at Westgate, a 312-unit luxury apartment community. Caleb Troop and Eric Liebich of Capstone Land Sales led the transaction. Exchange at Westgate will be part of the greater 550-acre Westgate community, which includes retail and dining, apartment communities, single-family homes and the 146-acre Westgate Nature Park.
HOUSTON — PopStroke Entertainment Group, a Florida-based golf concept, will open a new venue at Katy Grand, a Cinemark-anchored retail power center in Houston that is owned by NewQuest Properties. The venue will feature two 18-hole mini-golf courses conceived by TGR Design, an architecture firm backed by golf legend Tiger Woods. The concept includes a full-service restaurant and bar, ice cream parlor, outdoor games and a playground. Heather Nguyen and Rebecca Le internally represented NewQuest in the lease negotiations. PopStroke currently has two facilities in Port Saint Lucie and Fort Myers and recently announced four new locations in the Sunshine State. The company is also expanding into Arizona. The opening at Katy Grand is scheduled for summer 2022.