Sunday, June 29, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Restaurant

AcquisitionsMidwestMissouriRestaurantRetail

Boulder Group Brokers $2.5M Sale of Restaurant Property in Metro St. Louis

by Kristin Harlow

VALLEY PARK, MO. — The Boulder Group has brokered the $2.5 million sale of a restaurant property occupied by Freddy’s Frozen Custard & Steakburgers in Valley Park, a western suburb of St. Louis. The building is located at 2945 Dougherty Ferry Road. Zach Wright and Brandon Wright of Boulder represented the seller, a Midwest-based development company. The asset sold to an all-cash 1031 exchange buyer based in the western U.S. This Freddy’s location features a long-term lease with 10 percent rental increases every five years. The lease is guaranteed by M&M Custard, the third-largest Freddy’s franchisee. Freddy’s maintains approximately 500 locations nationwide.

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsNorth CarolinaRestaurantRetailSoutheastSoutheast Market Reports

Raleigh-Durham Offers Great Opportunities for Retail Owners and Investors

by John Nelson

By Tom Kolarczyk of JLL The overall U.S. economic slowdown, rising interest rates and the looming threat of inflation had a negative effect on all segments of Raleigh-Durham’s commercial real estate market last year — and retail was no exception. According to JLL research, there were just 11 retail trades over $5 million between January and December, totaling some $131 million in value. This is a notable drop from the 33 transactions recorded in 2022 valued at $582 million.  On the flipside, however, fundamentals remained incredibly strong with occupancies ending out the year at the near record-setting level of 98 percent. This led to leasing spreads of anywhere between 20 and 40 percent on new leases and helped flip the tables to favor landlords for the first time in decades, where getting space back is generally a positive.  Rents grew 3 to 6 percent in 2023, with an average year-end asking rate of $24.93 per square foot. This represents a year-over-year increase of 6.45 percent from 2022. While about 80 percent of all retail trades last year were acquired through private capital, an increasing number of REITs are becoming more active via mergers and acquisitions and strategic one-off acquisitions and …

Continue Reading
FacebookTwitterLinkedinEmail
Starbucks_Visalia-Calif
AcquisitionsCaliforniaRestaurantRetailWestern

Hanley Brokers $3.4M Sale of Starbucks-Occupied Property in Visalia, California

by Amy Works

VISALIA, CALIF.— Hanley Investment Group Real Estate Advisors has brokered the $3.4 million sale of a 2,000-square-foot, single-tenant property in Visalia, located in the San Joaquin Valley between Fresno and Bakersfield. Starbucks Coffee occupies the building, which was constructed on 0.6 acres in 2023 and features a double drive-thru. Sean Cox, Alexander Moore, Bill Asher and Kevin Fryman of Hanley represented the developer and seller, Stock Five Development, in the transaction. David Mouallem of D.M. Realty Inc. represented the buyer, a Los Angeles-based private investor. 

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

GID Signs Five Tenants to Join $2B High Street Mixed-Use Development in Atlanta

by John Nelson

ATLANTA — GID Development Group has announced five more retail and restaurant concepts coming to High Street, the company’s $2 billion mixed-use development underway in Atlanta’s Central Perimeter submarket. The five newly announced tenants, totaling more than 31,000 square feet, include: — Jaguar Bolera: an “eatertainment” destination encompassing 21,500 square feet of food, beverage and entertainment space that will offer activities such as duckpin bowling, foosball, darts, board games and karaoke in private rooms; — South African restaurant concept Nando’s PERi-PERi, which will occupy a 3,300-square-foot flagship location with an 85-seat interior featuring South African art, lighting and furniture, as well as a patio for an additional 96 guests; — Velvet Taco’s second Atlanta location totaling 2,300 square feet; — Allen Edmonds, a high-end menswear retailer that is relocating its Park Place location to 1,800 square feet and will offer a custom shoe design studio; and — Skin Spirit, a med-spa concept that is opening its first location in Atlanta at High Street. Previously announced tenants include Puttshack, The Hampton Social, Agave Bandido, Cuddlefish, Ben & Jerry’s, and Sugar Coat. GID has secured over 80,000 square feet at High Street’s 150,000-square-foot retail footprint in Phase I, with additional new retailers and …

Continue Reading
FacebookTwitterLinkedinEmail
Valley-Grove_Pleasant-Grove-Utah
Leasing ActivityMixed-UseRestaurantRetailUtahWestern

Three Restaurants Sign Leases at $1.2B Valley Grove Development in Pleasant Grove, Utah

by Hayden Spiess

PLEASANT GROVE, UTAH — Three restaurants have signed new leases at Valley Grove, a mixed-use property currently being developed by St. John Properties in Pleasant Grove, approximately 35 miles south of Salt Lake City. Wayback Burgers, The Smoked Taco and Sip’N Drinks & Treats are scheduled to open at the property later this year, occupying spaces totaling 6,011 square feet. Upon full build-out, the cost of the project, which features office, retail, hotel and research and development space, is expected to total $1.2 billion. Ryan Stewart, Erik Hulbert and Chris Flesner of Mountain West Commercial represented Wayback Burgers in the lease negotiations, and Stewart also represented The Smoked Taco in negotiations. Roger Woolstenhulme and Collin Cook of Wyngate Properties represented Sip’N Drinks & Treats. Other retail tenants at Valley Grove include AT&T, Café Rio, Da Cloud Boba Shoppe, Jersey Mike’s Subs, Kolache Krave, R&R BBQ, Starbucks Coffee, Slim Chickens, Verizon and Village Baker.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRestaurantRetail

Marcus & Millichap Negotiates $2.4M Sale of IHOP-Occupied Property in Springfield, Illinois

by Kristin Harlow

SPRINGFIELD, ILL. — Marcus & Millichap has negotiated the $2.4 million sale of a 4,480-square-foot property occupied by IHOP in Springfield. The building is situated at 2600 Sunrise Drive just north of Capital City Shopping Center, which is home to AMC, Big Lots, Panera and McDonald’s. Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Steven Weinstock of Marcus & Millichap assisted in closing the transaction, including a triple-net lease with a franchisee and 10 percent rental increases every five years.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMarylandRestaurantRetailSoutheast

Slim Chickens Signs Franchise Deal for Seven New Restaurants in Maryland

by John Nelson

FAYETTEVILLE, ARK. — Fayetteville-based fast casual restaurant chain Slim Chickens has signed a franchise deal for seven new restaurants in the state of Maryland. Franchisee DDR Holdings, a venture between brothers Darrin and Dennis Atlas, will open the units. DDR Holdings currently owns and operates two Slim Chickens stores in the state. The Slim Chickens brand has opened in more than 255 locations across the United States and the UK, with more than 1,200 stores currently in development.

Continue Reading
FacebookTwitterLinkedinEmail
ArizonaDevelopmentHospitalityMixed-UseRestaurantRetailWestern

Diversified Partners Breaks Ground on Eastgate Plaza Mixed-Use Project in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Diversified Partners has broken ground on Eastgate Plaza, a 17-acre mixed-use development at the northeast corner of Elliot and Ellsworth roads in Mesa. Confirmed tenants for the project include a drive-thru Starbucks Coffee, d’Lite Health On The Go, Pure Barre, Fix FX, Fresh Monkee, Playa Bowls, Kolache Café, Southern California-based Farmer Boys, Ono Hawaiian BBQ, Vero Chicago Pizza, Swig soda shop, Euphoria Nail Salon, Mecham Orthodontics, MB2 Dental, Andi’s Hair Salon & Barbershop AVEDA, Discount Tire and The UPS Store. Eastgate Plaza will also feature a 91,911-square-foot Cambria Hotel with 107 guest rooms on 2.11 acres. Designed with Cambria’s new prototypical plans, the hotel will include a 500-square-foot rooftop bar and kitchen, a first-floor restaurant and lounge, an outdoor seating and dining area, and an outdoor pool with a sundeck and fireplace. The hotel is slated to open on Sept. 1, 2025. Elliot & Ellsworth Investment Properties owns the site. An entity led by Brown Jr. Canyon Building & Design is the construction management group overseeing the buildout, while RKAA Architects is the architect of the project. EPS Group is serving as civil engineer.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentRestaurantRetailTexas

Chicken N Pickle Breaks Ground on 43,000 SF Restaurant, Entertainment Venue in Allen, Texas

by Taylor Williams

ALLEN, TEXAS — Chicken N Pickle, a Kansas City-based concept that combines dining with pickleball and other outdoor games, has broken ground on a 43,000-square-foot restaurant and entertainment venue in the northeastern Dallas suburb of Allen. The venue is located at The Farm, a 135-acre mixed-use development by JaRyCo. The opening is slated for early 2025. Chicken N Pickle also has locations in the Dallas-Fort Worth metros of Grand Prairie and Grapevine, as well as San Antonio, and will open its facility at Webster, a southwestern suburb of Houston, later this month.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityRestaurantRetailTexas

Three New Tenants Open Stores at LaCenterra at Cinco Ranch in Katy, Texas

by Taylor Williams

KATY, TEXAS — Three new tenants have opened stores at LaCenterra at Cinco Ranch in the western Houston suburb of Katy. Athleisure provider lululemon has opened a 4,133-square-foot store next to Sephora, and South African restaurant concept Nando’s has also debuted its 2,754-square-foot eatery next to Jamba Juice. Lastly, apparel and accessories retailer Two Tarts’ Toppers has opened a 1,113-square-foot store next to CycleBar and across from Bar Louie. Poag Development Group owns LaCenterra at Cinco Ranch.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts