Restaurant

SRS Brokers $6.8M Ground Lease Sale of Restaurant Property in Riverside, California

by Amy Works February 14, 2025

RIVERSIDE, CALIF. — SRS Real Estate Partners has brokered the ground lease (land ownership) sale of a restaurant property located at 4100 Central Ave. in Riverside. A Southern California-based developer sold the asset to a Washington-based private investor for $6.8 million. Raising Cane’s occupies the 3,267-square-foot property, which was built in 2024 on 1.3 acres, on a corporate-guaranteed, absolute triple-net, 15-year ground lease. Patrick Luther and Matthew Mousavi of SRS Capital Markets represented the seller in the transaction.

February 14, 2025

Leasing Activity Michigan Midwest Restaurant Retail

Domino’s to Open 1,904 SF Location at Studio One in Midtown Detroit

by Kristin Harlow February 14, 2025

DETROIT — Domino’s Pizza has leased 1,904 square feet of retail space at the Studio One mixed-use development in Midtown Detroit. The property includes multiple stories of luxury apartments as well as national retailers such as Walgreens, Poke Poke and The UPS Store. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the tenant, while Greg Newman of Keystone Commercial Real Estate represented the undisclosed landlord.

February 14, 2025

Acquisitions Florida Restaurant Retail Southeast

Colliers Negotiates Sale of Narcoossee Cove Retail Complex in Orlando Totaling $31M

by John Nelson February 12, 2025

ORLANDO, FLA. — Colliers has negotiated the sale of Narcoossee Cove, a newly built complex comprising six single- and multi-tenant retail outparcels in Orlando. Michael Brewster and Tommy Isola of Colliers’ Orlando office represented the seller and developer, WMG Development, in the transactions. Five separate buyers purchased the various components of the 7.7-acre property for a total of $31 million. The transactions include Miller’s Ale House, Fifth Third Bank, Discount Tire, Raising Cane’s and two multi-tenant retail strip centers. Additionally, a roughly one-acre parcel of land located between Miller’s Ale House and Discount Tire was sold. Alexie Fonseca, David Gabbai and Jeff Johnson of Colliers secured tenants for the property prior to the sale, including Crumbl Cookies, The Joint Chiropractic, Wild Fork Foods and Blaze Pizza.

February 12, 2025

Acquisitions Development Restaurant Retail South Carolina Southeast

NAI Columbia Brokers $5.3M Sale of Vacant Restaurant Property in North Myrtle Beach, South Carolina

by John Nelson February 12, 2025

NORTH MYRLE BEACH, S.C. — NAI Columbia has brokered the $5.3 million sale of a vacant restaurant located at 4530 Highway 17 S in North Myrtle Beach. Preston’s Seafood & Country Buffet previously occupied the property for 35 years. The undisclosed buyer plans to redevelop the restaurant. Jack Springs of NAI Columbia brokered the deal. The seller and plans for the redevelopment were not disclosed.

February 12, 2025

Acquisitions Restaurant Retail Texas

Marcus & Millichap Brokers Sale of 23,639 SF Restaurant Building in Downtown Fort Worth

by Taylor Williams February 12, 2025

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of a 23,639-square-foot restaurant building located at 611 Houston St. in downtown Fort Worth. The building was originally constructed in 1939 and includes an 8,100-square-foot basement with potential for future redevelopment. The building was fully leased at the time of sale to The Library Bar and Pete’s Dueling Piano Bar, which have occupied the space for more than two decades. Joe Santelli of Marcus & Millichap represented the seller and procured the buyer, both of which were local investment groups that requested anonymity, in the transaction.

February 12, 2025

Acquisitions Georgia Restaurant Retail Southeast

Marcus & Millichap Brokers Sale of New Restaurant in Buford, Georgia Leased to Arby’s

by John Nelson February 11, 2025

BUFORD, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant located at 4996 Lanier Islands Parkway in Buford, a northeast suburb of Atlanta. Quick-service restaurant chain Arby’s has a 15-year ground lease at the restaurant, which was delivered last year at the entrance of a 1.1 million-square-foot Amazon fulfillment center. The Arby’s restaurant sits on 1.6 acres and totals 2,577 square feet in size. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group represented the seller, a developer based in Florida, in the transaction. The buyer was a 1031 exchange investor based in California. The names of the buyer and seller were not released, along with the sales price. “This was part of a multi-parcel development we are marketing in Buford,” says McMinn. “We first sold a Whataburger and now the Arby’s, and in both cases we were able to leverage our national platform and local reach to generate strong interest and multiple cash offers.”

February 11, 2025

Acquisitions California Restaurant Retail Western

SRS Negotiates $2.7M Ground Lease Acquisition of Dutch Bros Property in Cameron Park, California

by Amy Works February 10, 2025

CAMERON PARK, CALIF. — SRS Real Estate Partners has arranged the ground lease (land ownership) acquisition of a Dutch Bros asset in Cameron Park, a suburb of Sacramento, Calif. An Oregon-based investment group sold the building to a Sacramento-based private investor for $2.7 million. Dutch Bros occupies the 950-square-foot property on a new 15-year, absolute triple-net corporate-guaranteed lease. Built in 2024, the asset is located at 4085 Cameron Park Drive. Alexander Moore of SRS Capital Markets represented the buyer, which completed a 1031 exchange, in the transaction.

February 10, 2025

Development New York Northeast Restaurant Retail Top Stories

Simon Unveils Plans for Multimillion-Dollar Transformation of Smith Haven Mall on Long Island

by John Nelson February 10, 2025

LAKE GROVE, N.Y. — Mall giant Simon Property Group (NYSE: SPG) has unveiled plans for a multimillion-dollar transformation of Smith Haven Mall in the Long Island village of Lake Grove. The redevelopment project will feature improvements to both the interior and exterior of the mall, with the addition of new retailers, restaurants, a new outdoor plaza and amenities throughout the property. The redevelopment process will begin this summer and is scheduled for completion in 2026. “At Simon, we are committed to making significant investments across our portfolio to ensure that our centers continue to deliver exceptional customer experiences for today’s shoppers,” says Mark Silvestri, president of development at Simon. Smith Haven Mall’s exterior will be repainted and will include new signage, updated entryways, landscaping and seating accommodations. The mall’s interior will receive new flooring and fixtures, as well as enhancements to Center Court and a transformation of the food court with newly installed seating. New tenants at the mall include fashion retailer Zara, which will open its first location in Eastern Long Island near Smith Haven’s Center Court next year. The square footage of the new Zara was not disclosed, but the space will be “massive,” according to Simon. Additionally, Golf …

February 10, 2025

Acquisitions California Restaurant Retail Western

DAUM Commercial Brokers Sale of 5,000 SF Mama Lu’s Dumpling House in Arcadia, California

by Amy Works February 7, 2025

ARCADIA, CALIF. — DAUM Commercial Real Estate Services has arranged the purchase of a 5,000-square-foot restaurant space in Arcadia. Dream1212 LLC, the owner of Mama Lu’s Dumpling House, acquired the property from an undisclosed seller for $4 million. The traditional Chinese restaurant occupies the restaurant space at 1212 S. Baldwin Ave. The Arcadia property serves as Mama Lu’s sixth location. Rudy Lara, Nick Peukpiboon, Nathan Lara and Andrew Lara of DAUM represented the buyer in the deal.

February 7, 2025

Leasing Activity Restaurant Retail Texas

GBT Realty Lands Five New Tenant Commitments at 42,000 SF Shopping Center in Kyle, Texas

by Taylor Williams January 30, 2025

KYLE, TEXAS — Tennessee-based developer GBT Realty Corp. has landed five new tenant commitments at The Shops at The Brick & Mortar District, a 42,000-square-foot shopping center in the Central Texas city of Kyle that is nearing completion. The tenants are Playa Bowls, Jeremiah’s Italian Ice, Skip’s Beer Wine & Liquor, Square Nails Austin and Perspire Sauna Studio. Sprouts Farmers Market is the anchor tenant of the center, which is now 90 percent preleased ahead of the scheduled late-summer completion date.

January 30, 2025

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