Restaurant

El-Ad National Properties Plans $1B District in Davie Mixed-Use Project Near Miami

by Jeff Shaw April 21, 2023

DAVIE, FLA. — El-Ad National Properties, a subsidiary of Elad Group based in Boca Raton, has released plans for a 2.8 million-square-foot mixed-use project in Davie, 24 miles north of Miami. The Town of Davie has approved the development. The project, called The District in Davie, is expected to cost approximately $1 billion, according to El-Ad. At full build-out, the property will comprise 1,256 apartment units across five high-rise buildings, as well as 36,000 square feet of ground-floor restaurant and retail space. Each building will range from 20 to 24 stories and offer studio, one-, two- and three-bedroom floor plans. Community amenities at The District in Davie will include pools, fitness centers with spas, dog parks, coworking space, game lounges, children’s play areas and rooftop lounges. Individual units will offer keyless entry, Wi-Fi connectivity and smart thermostats. Approximately 1.1 million square feet of access controlled onsite parking will also be available. Planned green elements for the community include electric vehicle charging stations, bicycle storage areas and LED lighting fixtures. Located at 4801-4999 S. State Road 7 on the southwest corner of Griffin Road and State Road 7 in Broward County, the complex is near Fort Lauderdale and Miami’s urban core. …

April 21, 2023

Acquisitions Development Florida Hospitality Mixed-Use Restaurant Retail Southeast

BH3 Management, Merrimac Ventures to Develop Mixed-Use Project on Miami’s Watson Island

by John Nelson April 20, 2023

MIAMI — South Florida-based developers BH3 Management and Merrimac Ventures have acquired development rights for a 10.7-acre site on Watson Island, an island within Miami city limits. The land is owned by the City of Miami and fronts Biscayne Bay midway between downtown Miami and Miami Beach. Alex Zylberglait of Marcus & Millichap brokered the transaction. A site plan is already approved, combining hotel, retail and residential uses alongside new public space and a waterfront promenade. While the plan will be modernized, BH3 Management and Merrimac Ventures intend to develop within the same footprint and density allowances that voters approved in 2019. Initial site work at the property, including utility and infrastructure improvements, will soon get underway following the transfer of an existing City of Miami lease to the co-developers.

April 20, 2023

Leasing Activity New York Northeast Restaurant Retail

Golfzon Social to Open 18,000 SF Entertainment Center in Brooklyn

by Taylor Williams April 19, 2023

NEW YORK CITY — Golfzon Social, an entertainment concept that centers on golf simulation, will open an 18,000-square-foot center at 11 Hoyt, a 57-story residential development in Brooklyn by Tishman Speyer. The venue will offer 16 hitting bays, screens for watching live sports, a chef-driven menu, craft cocktails and beers and an onsite professional for private lessons. Don Cafero of JLL represented Golfzon Social in its site selection and lease negotiations. Tishman Speyer was self-represented. The opening is scheduled for the fall.

April 19, 2023

Development Michigan Midwest Restaurant Retail

Elia Group Unveils Two New Dining Concepts to Open This Summer in Downtown Detroit

by Kristin Harlow April 19, 2023

DETROIT — Elia Group has unveiled two new dining concepts, Experience Zuzu and Upstairs Bar. Both are slated to open this July in the company’s 511 Woodward building in downtown Detroit. Inspired by the destinations of Miami and Las Vegas, Experience Zuzu features eclectic Asian cuisine. Menu items include hand-rolled sushi, appetizers, wok-fired specialties and exclusive dishes from the charcoal oven and wood-fired grill. In addition to a full bar, Experience Zuzu will showcase bespoke cocktails, premium bottle service and a selection of sake, champagne and wine. The second floor will feature Upstairs Bar, a luxurious lounge and club serving craft cocktails, small plates and sushi.

April 19, 2023

California Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

Shopoff Unveils 26-Acre Mixed-Use Redevelopment for Westminster Mall in Orange County

by Jeff Shaw April 19, 2023

WESTMINSTER, CALIF. — Shopoff Realty Investments has released plans to redevelop the Westminster Mall into a 26-acre mixed-use property. Located in the Orange County city of Westminster, the project will include housing, walkable green spaces, dining, retail and a hotel in place of the old Sears and Macy’s stores. Shopoff plans to break ground on the new project, named Bolsa Pacific at Westminster, in 2025. The entire transformation is set to include more than 1,000 apartments across three buildings; 100 for-sale townhomes; a 175-room hotel; 25,000 square feet of retail stores; a food hall; and 2.5 acres of green space, including an amphitheater, dog park, pickleball courts and food kiosks.

April 19, 2023

Conference Coverage Features Restaurant Retail

Foodservice Remains Retail Darling as Customers Have Appetite for Experiences

by Jeff Shaw April 14, 2023

LOS ANGELES — Whitney Livingston had a question for those in attendance at the annual Entertainment Experience Evolution conference in Los Angeles: Which user — food halls or restaurants — are more beneficial to driving traffic at retail properties? By show of hands, most attendees said food halls. Livingston, president of Centennial REC, was moderating the event’s “Fireside Chat: What’s Better for Traffic, Food Hall or Restaurants?” panel at the JW Marriott LA Live. Each of the categories was embodied in the form of a panelist. Representing food halls was Michael Morris, CEO of the aptly named Food Hall Co., with Rich Renninger, SVP and chief development officer of Darden Restaurants, weighing in from the perspective of more traditional, full-service restaurants. Despite what the name of the panel might suggest and Livingston’s opening poll, the dialogue that emerged between Renninger and Morris did not take on the shape of a debate so much as a conversation that illustrated that, for all their distinctions, there are many commonalities between the two types of food-and-beverage users. Ultimately, the panelists revealed that though food halls and full-service restaurants may take different paths, there is one shared recipe for success: creating a robust customer …

April 14, 2023

Acquisitions Midwest Ohio Restaurant Retail

Cooper Group Brokers $2.2M Sale of Chipotle-Occupied Property in Austintown, Ohio

by Kristin Harlow April 13, 2023

AUSTINTOWN, OHIO — The Cooper Commercial Investment Group has brokered the $2.2 million sale of a newly constructed retail property occupied by Chipotle Mexican Grill in Austintown near Youngstown. Dan Cooper of Cooper Group represented the seller, a private developer. Cooper Group also procured the all-cash buyer. The sales price represented a cap rate of 5.7 percent and $929 per square foot. Chipotle’s 10-year lease features 10 percent rental increases every five years.

April 13, 2023

Development Hospitality Restaurant Southeast Tennessee

McHugh Construction Delivers Inn and Spa at Southall Near Nashville

by John Nelson April 11, 2023

FRANKLIN, TENN. — McHugh Construction has delivered the Inn and Spa at Southall, a 325-acre luxury farm resort in the south Nashville suburb of Franklin. The approximately 95,000-square-foot property features 62 guest rooms, an executive boardroom, 15,000-square-foot spa, an all-day restaurant and bar and a 3,700-square-foot signature restaurant called January that serves fare grown onsite. Many guestrooms include wood-burning fireplaces, exposed wood beams and large windows. McHugh used cross-laminated timber and heavy timber for all four buildings in the project. Paul Mishkin, a Chicago investor, is the founder of Southall.

April 11, 2023

Development Florida Restaurant Retail Southeast

Azor-Led Partnership Breaks Ground on Wawa Gas Station in South Florida

by John Nelson April 7, 2023

PLANTATION, FLA. — A partnership led by South Florida-based shopping center owner and developer Azor Advisory Services has begun construction on a Wawa gas station and convenience store located in Plantation, roughly 30 miles north of Miami. The partnership, which is doing business as FLA BPI LLC, broke ground on the project April 4. Located at 100 South Pine Island Road, the property is situated within the northern portion of a three-acre site acquired by the partnership in 2016. Midtown Crossing, a 6,400-square-foot retail center, occupies the southern portion. Scheduled for completion in 12 months, the Wawa will offer prepared foods, beverages, coffee, fuel services and subcharge-free ATMs.

April 7, 2023

Leasing Activity Restaurant Retail Texas

Bright Realty Signs Three Tenants to Leases at The Realm at Castle Hills in Metro Dallas

by Taylor Williams April 6, 2023

LEWISVILLE, TEXAS — Bright Realty has signed three new tenants to leases at The Realm at Castle Hills, the locally based developer’s 324-acre mixed-use campus located north of Dallas in Lewisville. Children’s entertainment concept Cheeky Monkeys is leasing 7,287 square feet, including more than 6,000 square feet of play space, a coffee shop and a limited-service restaurant. Additionally, 206 Luster Grill has opened a 2,257-square-foot restaurant, and Cachet Salons & Spa now occupies 10,692 square feet.

April 6, 2023

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