Restaurant

SVN Chicago Commercial Brokers $1M Sale of Commercial Building in Chicago’s Edgewater Neighborhood

by Kristin Harlow October 3, 2023

CHICAGO — SVN Chicago Commercial has brokered the $1 million sale of a 5,000-square-foot commercial building along with the business sale of the ground-floor restaurant space at 5352 N. Broadway in Chicago’s Edgewater neighborhood. A local restaurant buyer purchased the building, which sits directly across the street from the CTA’s $2 billion Red/Purple Line modernization, which is set for completion in late 2024. Marcus Sullivan and Tim Rasmussen of SVN represented the undisclosed seller. The restaurant space was formerly home to Pearl’s.

October 3, 2023

Indiana Leasing Activity Midwest Restaurant Retail

Theo’s Italian to Open at The Shops at Perry Crossing in Plainfield, Indiana

by Kristin Harlow September 29, 2023

PLAINFIELD, IND. — Theo’s Italian, a new pizza and pasta restaurant concept by local Indianapolis-based restaurant operator Cunningham Restaurant Group, is slated to open in October at The Shops at Perry Crossing in Plainfield. Theo’s Italian serves pasta, salads, appetizers, sandwiches and a wide variety of Roman Style Pinsa, a lighter healthier version of Italian pizza. The 6,118-square-foot restaurant will feature patio seating outdoor, a full bar and private dining. Cunningham Restaurant Group also operates Bru Burger Bar, Stone Creek Dining Co. and a 7,500-square-foot event center at The Shops at Perry Crossing, an outdoor lifestyle center managed by JLL that features more than 60 retail, restaurant and service brands.

September 29, 2023

Leasing Activity New York Northeast Restaurant Retail

Partnership Opens 22,000 SF Entertainment Venue in Manhattan

by Taylor Williams September 27, 2023

NEW YORK CITY — A partnership between Tiger Woods, Justin Timberlake, NEXUS Luxury Collection and 8AM Golf have opened a 22,000-square-foot sports and entertainment bar between Bryant Park and Grand Central Station in Manhattan. Dubbed T-Squared Social, the venue offers an array of golf simulators, duckpin bowling and darts, as well as food and drink. ForrestPerkins designed the space, which features 24-foot open ceilings, a 32-foot bar, dining and lounge areas and a private event room.

September 27, 2023

Development Leasing Activity Mixed-Use Restaurant Retail Southeast Virginia

Comstock Signs Two Restaurant Tenants for Phase II of Reston Station in Northern Virginia

by John Nelson September 26, 2023

RESTON, VA. — Comstock Holding Cos. Inc. has signed two new restaurants to join the second phase of Reston Station, a mixed-use development underway in Northern Virginia. The new tenants are Noku Sushi, a Virginia-based fast-casual sushi and ramen restaurant, and Tous les Jour, a bakery chain. Both tenants will occupy ground-level retail space at 1800 Reston Row Plaza, the first of two trophy office towers under development in Phase II. Both restaurants are slated to open in 2025. Michael Kang of Rappaport represented the tenants in both transactions. Other committed commercial tenants set to open at Reston Station include Vida Sport & Fitness, Ebbitt House and Puttshack.

September 26, 2023

Illinois Leasing Activity Midwest Restaurant Retail

Chef Johnny Clark to Open Anelya Ukrainian Restaurant in Chicago’s Avondale Neighborhood

by Kristin Harlow September 25, 2023

CHICAGO — James Beard award-winning Chef Johnny Clark is set to open Anelya, a Ukrainian restaurant, in Chicago’s Avondale neighborhood in October. The restaurant’s name and inspiration are derived from Clark’s grandmother. Diners at Anelya will receive a Zakusky tower at their table that will carry various Ukrainian-style small plates like sliced and cured meats, pickled vegetables, fish and other hors d-oeuvres. Zakusky, or table offerings, is one of the most recognizable aspects of Ukrainian dining. Diners will select starters from the tower before heading on to other a la carte offerings. Chef Clark’s main menu will feature creative takes on staple dishes like Varenyky, which are similar to pierogis or ravioli, and Holubsi, which is stuffed cabbage. The wine program at Anelya will feature many styles and varietals imported from exclusively eastern Europe. The cocktail program will feature takes on traditional favorites named for Ukrainian folk heroes like Taras Shevchenko, like a shaken horseradish martini. There will be nonalcoholic drinks like a homemade kvass, which is a naturally fermented beverage resembling kombucha. Clark co-owns and operates the Michelin-starred Parachute with his wife, Chef Beverly Kim. Charlie Vinz, designer and architect of Parachute, also designed Anelya. The logo for Anelya …

September 25, 2023

Colorado Development Industrial Mixed-Use Office Restaurant Retail Western

St. John Properties Breaks Ground on 600,000 SF Simms Technology Park in Broomfield, Colorado

by Amy Works September 22, 2023

BROOMFIELD, COLO. — St. John Properties has started construction of Simms Technology Park, an 81-acre mixed-use business community in Broomfield. Upon completion, the project will feature nearly 600,000 square feet of single-story and multi-story office and flex/research-and-development (R&D) space, as well as complementary retail amenities. The first phase of the park includes a single-story 41,000-square-foot office building and two flex/R&D buildings offering a total of nearly 70,000 square feet of space. Totaling just over 110,000 square feet, the three buildings are designed to achieve LEED certification. Completion of the three buildings is slated for summer 2024. In summer 2022, Broomfield City Council granted approval for St. John Properties to begin development activities on Simms Technology Park, a $125 million project at the intersection of North Simms Street and West 112th Avenue in Broomfield County, approximately 20 miles northwest of Denver. The Baltimore-based developer acquired the development site from Brocade Communications Systems LLC in 2020. In addition to the initial three buildings, St. John Properties is currently marketing the sale or ground lease of four pad sites, ranging from 1.5 acres to two acres, that can support various uses, including restaurants, convenient stores/gas stations and fast food. The final development is expected …

September 22, 2023

Acquisitions California Restaurant Retail Western

Shopoff Realty Divests of Retail Building in Fullerton, California to Dream ERE: Real Estate

by Amy Works September 22, 2023

FULLERTON, CALIF. — Irvine, Calif.-based Shopoff Realty Investment has completed the disposition of the hard corner of the current Sunrise Village Shopping Center in Fullerton. Dream ERE: Real Estate, a local Orange County, Calif.-based investor, acquired the asset for an undisclosed price. The sold property includes the Del Taco drive-thru ground lease and a 6,355-square-foot, three-tenant pad that is currently occupied by Papa John’s Pizza, Sunrise Optometry and Coffee Code. In January 2023, Shopoff received unanimous approval for the mixed-use redevelopment of Sunrise Village. Dubbed The Pines at Fullerton, the project will include 49 small-lot detached homes, 64 townhouses and 23,000 square feet of neighborhood retail uses. With the sale of the corner retail, 2.7 acres of retail pads remain for sale.

September 22, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

First Round of Retail Tenants Sign Leases at Nora Development in Downtown West Palm Beach

by John Nelson September 21, 2023

WEST PALM BEACH, FLA. — The first round of retail and restaurant tenants have signed leases to join the commercial district at Nora, a mixed-use development underway in downtown West Palm Beach. A partnership between West Palm Beach-based NDT Development, Miami-based Place Projects and Greenwich, Conn.-based Wheelock Street Capital is developing Nora. The lineup of new tenants includes three food-and-beverage concepts: Loco Taqueria & Oyster Bar, H&H Bagels and Van Leeuwen Ice Cream. The roster will also include two fitness concepts: [solidcore] and Rumble Boxing. The first phase of Nora will comprise 25 eateries and several shops and wellness concepts along North Railroad Avenue. Nora will also include boutique and creative offices and a 201-room hotel that will be developed by a partnership between BD Hotels and Sean MacPherson.

September 21, 2023

Acquisitions Florida Net Lease Restaurant Retail Southeast

SRS Brokers $4.6M Sale of New Restaurant Building in Jacksonville Leased to Panera Bread

by John Nelson September 20, 2023

JACKSONVILLE, FLA. — SRS Real Estate Partners has brokered the $4.6 million sale of a new 3,937-square-foot restaurant building located at 9725 Applecross Road in Jacksonville. Completed earlier this year as an outparcel to Oakleaf Town Center, the 1.5-acre site is triple-net leased to Panera Bread. The 15-year lease has scheduled rental increases every five years. Patrick Nutt and William Wamble of SRS represented the seller, a national real estate development firm, in the transaction. The 1031 buyer was a private investor based in South Florida.

September 20, 2023

California Development Mixed-Use Multifamily Office Restaurant Retail Top Stories Western

Presidio Bay Ventures Opens 6.4-Acre Springline Mixed-Use Development in Menlo Park, California

by John Nelson September 18, 2023

MENLO PARK, CALIF. — Presidio Bay Ventures, a San Francisco-based developer and investment firm, has officially opened Springline, a 6.4-acre mixed-use development near downtown Menlo Park in Silicon Valley. Situated adjacent to the Cal Train Station, the development features 200,000 square feet of office space, The Residences at Springline apartment community, a central plaza, two underground parking garages and 29,000 square feet of retail space. “We have delivered a magnetic destination in the heart of Silicon Valley that attracts the Bay area’s best to live, work and play,” says K. Cyrus Sanandaji, managing principal of Presidio Bay. “Over the past three years, we have created a destination with thoughtfully designed spaces that allow for tenants, residents and the local community to interact.” The Offices at Springline spans two buildings and features coworking space in the south building, as well as a golf simulator, entertainment lounge, fitness center, locker rooms, showers, outdoor fitness spaces, bicycle parking, electric vehicle charging stations and The Glade, an onsite dog park. Office tenants also have access to the Springline App that allows remote entry, direct access to property management, amenities, bookings and other services. The Offices are fully leased to global and regional tenants, including STG, Menlo Ventures, …

September 18, 2023

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