Restaurant

Crescent, Nuveen Underway on 18,000 SF Monarch Market Food Hall in Charlotte

by John Nelson February 17, 2023

CHARLOTTE, N.C. — Crescent Communities and Nuveen Real Estate are underway on the construction of Monarch Market, an 18,000-square-foot food hall located within One Independence Center in Charlotte. Hospitality HQ will operate the space, which is scheduled to open later this year and will feature 12 food stalls, one full-service restaurant, three bars and a private event space. The event space will include a cocktail lounge with outdoor space, semi-private space available for reservations and an indoor/outdoor bar. Food delivery and access to the tenant lounge will also be available to those who work at One Independence Center. Elmer Design is the architect and interior designer on the project, with JE Dunn serving as the general contractor. Cushman & Wakefield is providing consulting services, and PNC Bank, U.S. Bank and First National Bank of Pennsylvania have provided financing.

February 17, 2023

Development Leasing Activity Maryland Mixed-Use Restaurant Retail Southeast

SJC Ventures Adds 11 New Tenants to Beacon Square Mixed-Use Development in Annapolis, Maryland

by John Nelson February 16, 2023

ANNAPOLIS, MD. — SJC Ventures has announced 11 new tenants joining Beacon Square, a mixed-use development underway in Annapolis. New tenants signing leases include Arhaus, Circa Lighting, Firebirds Wood Fired Grill, Mighty Quinn’s BBQ, Meg Fox Aesthetics, GNC, Aspen Dental, Inspire Nails, Cold Stone Creamery, Eggspectation and Jersey Mikes. The first openings are projected for late 2024. Additionally, Beacon Square will be anchored by a 43,000-square-foot grocery tenant that has not yet been announced. Atlanta-based SJC Ventures has tapped Ray Schupp, Suzanne Katz and Bryan Davis of H&R Retail to lease Beacon Square. In addition to the 52,000 square feet of shops and restaurants, Beacon Square will feature office space and 508 multifamily units. SJC Ventures and partner AvalonBay Communities purchased the land in early 2022 and began construction last August.

February 16, 2023

Development Nevada Restaurant Retail Western

EEG, Creation Plan $50M Entertainment Venue on the Las Vegas Strip

by Amy Works February 16, 2023

LAS VEGAS — Evening Entertainment Group (EEG), in partnership with Creation, has unveiled plans for Bottled Blonde. Slated to open in late 2024, the asset will be a $50 million, four-story, 25,000-square-foot, standalone entertainment venue on the Las Vegas Strip. The full-service restaurant, bar and beer garden will feature an open-air rooftop lounge and a hub for sports, entertainment and nightlife. Bottled Blonde will offer craft cocktails, frozen adult beverages, fine wines, premium beers, a mimosa tower, 128-ounce beer tower and bottle service. Additionally, Bottled Blonde Las Vegas will also feature Zuluma, an all-new concept on the third floor.

February 16, 2023

Acquisitions Florida Restaurant Retail Southeast

SRS Brokers $2.9M Ground-Lease Sale of Burger King-Occupied Restaurant in West Palm Beach

by John Nelson February 15, 2023

WEST PALM BEACH, FLA. — SRS Real Estate Partners’ National Net Lease Group has brokered the $2.9 million ground-lease sale of a single-tenant retail property in West Palm Beach. Developed in 2022 at 65 Benoist Farms Road, the 2,866-square-foot property is occupied by Burger King and has a 20-year triple-net ground lease in place. Patrick Nutt and William Wamble of SRS represented the seller, Brightwork Development, in the sale. The buyer was a private investor based in South Florida.

February 15, 2023

Leasing Activity Restaurant Retail Texas

Poag Development Welcomes Four New Tenants to Metro Houston Shopping Center

by Taylor Williams February 14, 2023

KATY, TEXAS — Poag Development Group has welcomed four new tenants to LaCenterra at Cinco Ranch, a shopping center located in the western Houston suburb of Katy. Restaurants The Crack Shack and Nando’s will lease 4,065 and 2,754 square feet, respectively. One Medical, a primary care practice, will occupy 3,843 square feet, and eyewear brand Warby Parker has committed to 2,364 square feet The openings are slated for the summer.

February 14, 2023

Acquisitions Kansas Midwest Northmarq Restaurant Retail

Northmarq Brokers $1.2M Sale-Leaseback of Sonic-Occupied Property in Kansas

by Kristin Harlow February 13, 2023

COLUMBUS, KAN. — Northmarq has brokered the sale-leaseback of a Sonic-occupied restaurant property in Columbus, a city in Southeast Kansas. The sales price was $1.2 million. The 1,127-square-foot building is located at 228 W. Maple St. Matt Lipson of Northmarq represented the Missouri-based seller. Hamman Real Estate represented the buyer, a California-based individual investor.

February 13, 2023

Indiana Leasing Activity Midwest Restaurant Retail

Tinker Coffee to Open at 360 Market Square in Downtown Indianapolis

by Kristin Harlow February 10, 2023

INDIANAPOLIS — Tinker Coffee Co. is opening a new location at 360 Market Square in downtown Indianapolis this spring. The 360 Market Square location will be Tinker’s fourth café, but its first standalone offering that is not in the airport or a food hall. Tinker currently maintains two locations in the Indianapolis International Airport and one in the AMP food hall, an artisan marketplace and food hall located in the 16 Tech Innovation District in downtown Indianapolis. The downtown café will be open seven days a week. Flaherty & Collins is the owner and developer behind 360 Market Square, an apartment building with an attached Whole Foods Market.

February 10, 2023

Acquisitions Michigan Midwest Restaurant Retail

Northmarq Brokers $3.1M Sale of Popeyes-Occupied Building in Grand Haven, Michigan

by Kristin Harlow February 9, 2023

GRAND HAVEN, MICH. — Northmarq has brokered the $3.1 million sale of a newly constructed, build-to-suit property occupied by Popeyes in Grand Haven, which is situated along Lake Michigan. The building at 320 N. Beacon Blvd. is located near Walgreens, Dollar Tree, Starbucks and The Home Depot. Isaiah Harf of Northmarq represented the Illinois-based seller. A New York-based private investor acquired the asset in a 1031 exchange. Nationally, there are more than 3,700 Popeyes locations.

February 9, 2023

Development Florida Restaurant Retail Southeast

Konover South Breaks Ground on 23,000 SF Retail Center in Westlake, Florida

by John Nelson February 8, 2023

WESTLAKE, FLA. — Konover South has broken ground on Shoppes of Westlake Landings in Westlake. Upon completion, the 23,000-square-foot development will comprise two multi-tenant retail centers and a pod of quick-service restaurants. Konover South acquired the property from homebuilder Minto Communities in 2021. MEC Construction is serving as general contractor. Tenants that have signed leases at the center include Starbucks Coffee, KFC, Taco Bell, Habit Burger, 3Natives, Heartland Dental, Verizon Wireless, Go Green Cleaners and Orange Theater.

February 8, 2023

California Development Hospitality Mixed-Use Restaurant Retail Top Stories Western

LRE & Cos., American Hospitality Services Unveil Plans for 11-Acre Mixed-Use Development in Roseville, California

by Jeff Shaw February 2, 2023

ROSEVILLE, CALIF. — LRE & Cos. and American Hospitality Services have unveiled full plans for Roseville Junction, a new mixed-use development in Roseville. The property will feature two hotels, three restaurants, an entertainment and sports complex and an outdoor gathering space. Roseville Junction will be built on an 11-acre site that is 20 miles northeast of Sacramento. The site is adjacent to Highway 65 near Interstate 80, and is located nearby many of the area’s vineyards and wineries, as well as new retail and shopping amenities such as the Roseville Galleria. A timeline for completion was not disclosed. The family- and pet-friendly outdoor gathering space will be called Social Connection and will offer guests a variety of food and beverage options, including craft brewery Fieldwork Brewing Co. The restaurants leases are currently under negotiation. The project’s entertainment and sports complex, The Electric Pickle, will include a bocce ball court and 10 pickleball courts. The Electric Pickle will also offer food options such as wood-fired pizzas, tacos, burgers and more. Guests will be able to place food and beverage orders through an app and have their food delivered by “food ambassadors” moving throughout the property. The two five-story, select-service hotels will be …

February 2, 2023

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