Restaurant

SRS Arranges $2.6M Ground Lease Sale for Bubba’s 33 Restaurant in Avon, Indiana

by Kristin Harlow June 22, 2023

AVON, IND. — SRS Real Estate Partners has arranged the $2.6 million ground lease sale for a 7,000-square-foot restaurant occupied by Bubba’s 33 in Avon, about 13 miles west of Indianapolis. The newly constructed property has a 15-year triple-net lease that is corporate guaranteed by parent company Texas Roadhouse Inc. Founded in 2013, Bubba’s 33 is an expanding sister brand of Texas Roadhouse. Morgan Merrill and Sarah Shanks of SRS represented the seller, Texas Roadhouse Inc. A California-based private investor was the buyer. The sales price represented a cap rate of 5.45 percent.

June 22, 2023

Development Restaurant Retail Texas

Parkway Construction Breaks Ground on 70,000 SF Entertainment Center in Allen, Texas

by Taylor Williams June 20, 2023

Parkway Construction has broken ground on a 70,000-square-foot venue for Austin-based High 5 Entertainment in Allen, located on the northeastern outskirts of Dallas. The venue is located within The Farm in Allen, a 135-acre mixed-use development. The entertainment center will feature a landscaped miniature golf course, a 24-lane bowling alley, two-story laser tag arena, axe throwing arena, escape rooms and a scratch kitchen with a full bar. Completion is slated for next spring. JaRyCo is the master developer of The Farm in Allen.

June 20, 2023

Development Hospitality Mixed-Use Office Oregon Restaurant Retail Top Stories Western

BPM to Open $600M Ritz Carlton Mixed-Use Tower in Downtown Portland in August

by John Nelson June 20, 2023

PORTLAND, ORE. — BPM Real Estate Group, a locally based and privately owned development and investment company, plans to open the Block 216 mixed-use tower in downtown Portland in August. Located at 900 SW Washington St., the tower will house The Ritz-Carlton, Portland hotel, the brand’s first in the Pacific Northwest. In addition to the 251-room hotel, the high-rise will include The Ritz-Carlton Residences (132 condos and penthouses across 15 floors), shops and 134,000 square feet of office space, as well as a food hall on the ground level known as FLOCK. Development costs for Block 216 are reportedly $600 million. “As one of the tallest towers in Portland, this development is a monumental signifier of the renewal and transformation in store for this city,” says Walter Bowen, founder and CEO of BPM. “We are pleased to contribute to Portland’s continued recovery and resurgence as one of the country’s leading business centers and gateway to the Pacific Northwest travel destination locations.” The Ritz-Carlton hotel’s amenities will include a spa, signature restaurant on the 20th floor, infinity-edge pool and a 4,000-square-foot fitness center, according to the hotel website. FLOCK, which will house nine BIPOC-owned (black, indigenous and people of color) vendors, is …

June 20, 2023

Leasing Activity Restaurant Retail Southeast Tennessee

Four Retail Tenants Sign Leases at Hamilton Place Mall in Chattanooga

by John Nelson June 19, 2023

CHATTANOOGA, TENN. — Four new retail tenants will join Hamilton Place, a 1.2 million-square-foot enclosed shopping mall in Chattanooga. Crunch Fitness will open a 35,000-square-foot location at the property’s former Sears location, and restaurants Texas Roadhouse, Taco Mamacita and Community Pie have also signed leases. Construction on the Crunch Fitness space is scheduled to begin in August, with the opening planned for later this year. Work is currently underway on Community Pie and Taco Mamacita, which will open in July and next year, respectively. Texas Roadhouse is also scheduled to open next year, with construction anticipated to begin later this month. Chattanooga-based CBL Properties is the landlord and purchased the mall’s former Sears building in 2017.

June 19, 2023

Florida Market Reports Restaurant Retail Southeast Southeast Market Reports

Reviewing Miami’s Retail Scene: An Overview of the Present Atmosphere

by John Nelson June 19, 2023

Miami is a vivacious city renowned for its scenic beaches, sunny climate and dynamic nightlife. The South Florida city is also a hub for a flourishing retail industry, which serves an eclectic blend of both locals and visitors. Miami’s retail market is characterized by its diversity, with a broad spectrum of retailers ranging from luxurious, high-end boutiques to small, locally owned businesses. This range of retailers is a reflection of the city’s diverse population, which includes a sizable Hispanic community, as well as individuals from all corners of the globe. Consequently, Miami’s retailers must be adept at catering to a wide range of tastes. One of the most notable trends in the Miami retail market in recent years has been the growth of e-commerce. Like many other cities around the world, Miami has seen a significant increase in online shopping. This has presented both challenges and opportunities for retailers in the city. On the one hand, the rise of e-commerce has led to increased competition for brick-and-mortar retailers in Miami. Online retailers such as Amazon and Walmart have made it easier than ever for consumers to shop from the comfort of their own homes, and this has put pressure on …

June 19, 2023

Leasing Activity Mixed-Use Office Restaurant Retail Southeast Tennessee

AJ Capital Signs Five New Tenants to Nashville Warehouse Co. Project

by John Nelson June 16, 2023

NASHVILLE, TENN. — Adventurous Journeys Capital Partners (AJ Capital) has signed five new tenants to Nashville Warehouse Co., a mixed-use campus located at the corner of 4th Avenue South and Chestnut Street in the Wedgewood-Houston neighborhood of Nashville. Eatery HERO will lease space beginning this August, and work-focused members club The Malin will open a 16,000-square-foot coworking space beginning this fall. Additionally, contractor Hensel Phelps, talent agency Trend Management and law firm Maynard Nexsen have signed office leases at the mass-timber property. Beginning in July, Hensel Phelps and Maynard Nexsen will occupy 11,220 square feet and 7,600 square feet, respectively. Trend Management will lease 6,800 square feet beginning in December. These leases bring the property—which features 200,000 square feet of office space, public pedestrian spaces, an acre of green space, onsite parking and a fitness center — to 91 percent occupancy.

June 16, 2023

Florida Leasing Activity Restaurant Retail Southeast

Eight Retail Tenants Sign Leases to Occupy Promenade Along Lincoln Road in Miami Beach

by John Nelson June 16, 2023

MIAMI BEACH, FLA. — Eight new retail tenants have signed leases on Lincoln Road in Miami Beach, a South Florida high street that features more than 200 shops, cafés, galleries and restaurants across eight blocks. Paris St. Germain, Habitat Hyett, The Cheesecake Factory, Ecco, BonBon Etc., Osteria da Fortunata, Voyage Luggage and Salt & Straw will open locations at the promenade beginning this summer. Lincoln Road is the most visited open-air retail destination in South Florida, having drawn more than 8 million visitors in 2022.

June 16, 2023

Leasing Activity Midwest Minnesota Restaurant Retail

Ruth’s Chris Steak House to Open at Kahler Grand Hotel in Rochester, Minnesota

by Kristin Harlow June 15, 2023

ROCHESTER, MINN. — Ruth’s Chris Steak House is opening at the Kahler Grand Hotel in Rochester. The location marks the second in Minnesota for Ruth’s Chris following one in downtown Minneapolis. The 7,800-square-foot restaurant will feature outdoor seating, a full bar and private dining area. Kraus-Anderson Construction has begun demolition of the Grand Grill in the hotel lobby to make way for Ruth’s Chris. Construction of the steakhouse is scheduled to begin late this summer and be completed in early 2024. Kahler Hospitality Group recently renovated the 600-room hotel. The four-year renovation project was one of the most extensive renovations ever completed at the hotel, which was originally constructed in 1921. Darci Fenske of Paramark Real Estate Services represented Kahler Hospitality Group in the lease with Ruth’s Chris.

June 15, 2023

Leasing Activity Michigan Midwest Restaurant Retail

Knock Twice Speakeasy Opens in West Bloomfield Township, Michigan

by Kristin Harlow June 15, 2023

WEST BLOOMFIELD TOWNSHIP, MICH. — Knock Twice Speakeasy has opened in West Bloomfield Township, a northwest suburb of Detroit. Eric Banks and Rachele Downs of Dominion Real Estate Advisors represented the landlord, Hariram Properties Inc., in the five-year lease for 5,383 square feet. The space was formerly home to Lark restaurant and later Sizzle and Spice Indian Cuisine. Knock Twice has invested $250,000 in its space, which features an outdoor patio, cigar lounge and VIP area.

June 15, 2023

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

RocaPoint Signs Perch Kitchen & Tap to Lease at $1B Greenville County Square Development

by John Nelson June 13, 2023

GREENVILLE, S.C. — RocaPoint Partners has signed Perch Kitchen & Tap to open a restaurant and brewery at Greenville County Square, a $1 billion mixed-use development in Greenville. Perch Kitchen & Tap is the first committed food-and-beverage tenant and will join Whole Foods Market in the development’s first phase. Charleston-based Palmetto Brewing Co. is partnering with Perch to operate the restaurant’s brewery portion. Perch is based in Chicago and is part of the 4 Star Restaurant Group. The new restaurant and brewery will feature 7,200 square feet of indoor dining and kitchen space and a 2,100-square-foot outdoor patio. Additionally, the new 250,000-square-foot Greenville County administrative building is set to open soon at the development.

June 13, 2023

Newer Posts

Older Posts