Restaurant

Miami Worldcenter Associates, CIM Deliver 80,000 SF Retail Building, Future Home of Bowlero and Sports & Social

by John Nelson December 7, 2022

MIAMI — Miami Worldcenter Associates and partner CIM Group have delivered Block F-East, an 80,000-square-foot “jewel box” retail building within the $4 billion Miami Worldcenter campus in downtown Miami. The standalone, glass-encased building marks one of the last retail components to be delivered as part of the 27-acre mixed-use development. The building, which will be home to Bowlero and the recently announced Sports & Social, will feature an open-air rooftop restaurant overlooking Miami Worldcenter’s World Square public plaza and park. Block F-East is located at the confluence of the 7th Street Promenade and World Paseo open-air retail pedestrian streets. The site is directly west of Miami Worldcenter’s upcoming citizenM boutique hotel and north of the completed luxury apartment tower Bezel Miami. In addition to the jewel box’s tenants, other retailers at Miami Worldcenter include Sephora (now open), lululemon athletica, Savage x Fenty, Ray-Ban, Posman Books and Lucid Motors, as well as dining and entertainment concepts such as Brasserie Laurel (now open), El Vecino and Chicago’s Maple & Ash and etta restaurants.

December 7, 2022

Illinois Leasing Activity Midwest Restaurant Retail

Halsted Street Deli & Bagel to Open 1,500 SF Location at Park Plaza in Naperville, Illinois

by Kristin Harlow December 5, 2022

NAPERVILLE, ILL. — Halsted Street Deli & Bagel is opening a 1,500-square-foot location at Park Plaza, an office building in the Chicago suburb of Naperville. Accesso owns the building. Slated to open in January, the restaurant will be accessible to tenants of the property as well as the general public. Halsted Street Deli is known for its soups, salads, sandwiches and bagels. The Naperville location will be open from 7:30 a.m. to 2 p.m. each day.

December 5, 2022

Leasing Activity Restaurant Retail Texas

Kimco Negotiates Two Food-and-Beverage Leases at Shops at Baybrook in Webster, Texas

by Taylor Williams December 2, 2022

WEBSTER, TEXAS — Kimco Realty, a New York-based REIT, has negotiated two food-and-beverage leases with Kura Sushi, a technology-enabled Japanese restaurant, and specialty meat concept Wild Fork at The Shops at Baybrook. The leases respectively total 3,848 and 4,700 square feet. The center is under construction in the southeastern Houston suburb of Webster. Hannah Tosch, Wade Greene, Cody Persyn and Kimberly Lenardson of Colliers represented Kimco in the lease negotiations. Opening dates have not yet been established.

December 2, 2022

Acquisitions California Net Lease Restaurant Retail Western

Progressive Real Estate Partners Negotiates $4.5M Sale of Multi-Tenant Retail Property in Carlsbad, California

by Amy Works December 2, 2022

CARLSBAD, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail center located at 711 Grand Ave. in Carlsbad. A New York-based private investor sold the asset to a San Diego-based private investor for $4.5 million, or $976 per square foot. Built in 2019, the 4,584-square-foot property is fully leased to three tenants: Harumana Noodles + Buns, Village Optical and The Shop Salon, all of which are on triple-net leases. Mike Lin of Progressive Real Estate Partners represented the seller, while Josh Simms and Ryan King of Voit Real Estate Services represented the buyer in the transaction.

December 2, 2022

Leasing Activity Restaurant Retail Texas

Chicken N Pickle to Open 42,000 SF Entertainment Venue in Webster, Texas

by Taylor Williams November 29, 2022

WEBSTER, TEXAS — Chicken N Pickle, an entertainment concept that combines pickleball with food, drink and other games, will open a 42,000-square-foot venue in Webster, a southeastern suburb of Houston. The venue will be located within the 80-acre Flyway development and will feature multiple bars, beer gardens and indoor and outdoor dining spaces. The opening is slated for late 2023. A 532-room Great Wolf Resorts hotel is also under construction at the Flyway.

November 29, 2022

Acquisitions Florida Restaurant Retail Southeast

SRS Brokers $2.7M Sale of Restaurant in Lutz, Florida Ground Leased to Chick-fil-A

by John Nelson November 21, 2022

LUTZ, FLA. — SRS Real Estate Partners has arranged the sale of a 4,854-square-foot, single-tenant retail building in Lutz, approximately 15 miles north of Tampa. Chick-fil-A occupies the property via a ground lease and plans to open next month. Patrick Nutt and William Wamble of SRS represented the seller, Ferber Development, in the $2.7 million transaction. A private Florida-based investor acquired the property, which is located at 17693 Harpers Run and is an outparcel to Cypress Ranch, a 164-acre mixed-use development project.

November 21, 2022

Acquisitions Colorado Restaurant Retail Western

Miller United Real Estate Sells 8,511 SF Shops on Montview in Denver’s Central Park District

by Amy Works November 18, 2022

DENVER — Miller United Real Estate has completed the disposition of The Shops on Montview, a retail center located at 8801 E. Montview Blvd. in Denver’s Central Park neighborhood. Terms of the transaction were not released. Built in 2020, The Shops on Montview features 8,511 square feet of retail space. At the time of sale, the property was fully occupied by four tenants, I Heart Mac & Cheese, Pizza Hut, Smile Studio Dental and Starbucks Coffee. Jason Schmidt of JLL Retail Capital Markets Investment Sales and Advisory led the team that represented the seller in the transaction.

November 18, 2022

Illinois Leasing Activity Midwest Restaurant Retail

Perry’s Steakhouse & Grille to Open Third Chicago-Area Restaurant

by Kristin Harlow November 18, 2022

VERNON HILLS, ILL. — Perry’s Restaurants, a Texas-based boutique restaurant group, is opening its third Chicago-area location. Perry’s Steakhouse & Grille is set to debut at Hawthorn Mall in Vernon Hills in late 2023. The 11,000-square-foot restaurant will include a main dining room and four private dining rooms. Chicago-based Aria Group Architects Inc. designed the Vernon Hills restaurant, which will accommodate up to 350 people. Perry’s also operates locations in Oak Brook and Schaumburg.

November 18, 2022

California Development Loans Restaurant Retail Western

Parkview Financial Provides $35M in Construction Financing for 42-Acre West Harbor Retail Project in Los Angeles

by Amy Works November 17, 2022

LOS ANGELES — Parkview Financial has provided a $35 million senior construction loan to a venture between Ratkovich Co. and Jerico Development for the development of West Harbor, a retail center along the Los Angeles waterfront in the San Pedro neighborhood. The financing from Parkview is in addition to $55 million of Commercial Property Assessed Clean Energy financing, as well as $85 million of investor equity. Situated on 42 acres at 1200 Nagoya Way, West Harbor will feature more than 125,460 square feet of multi-tenant retail space. Slated for completion in two phases, several restaurants will anchor the development, including Yamashiro, King & Queen Cantina, a market hall for fast-casual dining and Bark Social. Additionally, the project will include a 6,200-seat amphitheater developed in conjunction with the Nederlander Organization, as well as a variety of other tenants. The Los Angeles City Harbor Department owns the site and executed a long-term ground lease with the developer. The project is now under construction with completion slated for 2024.

November 17, 2022

Development Kentucky Mixed-Use Restaurant Retail Southeast

North American Properties, Galley Group to Open Food Hall at Newport on the Levee in Kentucky

by John Nelson November 16, 2022

NEWPORT, KY. — Cincinnati-based North American Properties (NAP) has partnered with Galley Group, a Pittsburgh-based food hall operator, to open a new food hall and bar at Newport on the Levee, a mixed-use destination along the Ohio River in Newport. The 7,900-square-foot venue, dubbed The Galley on the Levee, will feature four restaurants and a signature bar that will be able to accommodate 200 patrons. Designed by Reztark Design Studio, the food hall will open onto Bridgeview Box Park, an open-air shipping container park that opened in 2020 as part of NAP’s redevelopment of Newport on the Levee, which originally opened in 2001. The Galley on the Levee is set to open in summer 2023 and will mark Galley Group’s entry into the Kentucky market. In addition to the food hall, several other restaurants are currently under construction at the mixed-use development, including Shiners on the Levee, 16 Lots Brewing Co. and Amador. Shiners will soft-open during Thanksgiving week and host grand opening festivities in early December, while 16 Lots and Amador are slated to open next spring, according to NAP.

November 16, 2022

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