Restaurant

Egg Harbor Café Opens at Luxury Chicago Apartment Tower

by Kristin Harlow November 18, 2019

CHICAGO — Egg Harbor Café has opened at Optima Signature, a 47-story, 490-unit luxury apartment tower in Chicago’s Streeterville neighborhood. The Streeterville location is the first downtown Chicago restaurant for Egg Harbor Café, which specializes in breakfast, brunch and lunch and maintains 20 locations in Illinois, Wisconsin and Georgia. Optima Inc. is the developer behind Optima Signature, which features 60,000 square feet of retail and office space. Egg Harbor occupies 4,905 square feet. There is one 490-square-foot retail space remaining at the apartment property, which opened in 2017. Other retailers include GoodVets, Guidepost Montessori, Runaway Fitness and Bedazzled Nails & Spa.

November 18, 2019

Leasing Activity Restaurant Retail Texas

Toasted Yolk Café to Open Three Restaurants in Houston Area in Early 2020

by Taylor Williams November 13, 2019

HOUSTON — The Toasted Yolk Café, a breakfast eatery founded in 2010, will open three new restaurants in the Houston area in early 2020, raising its total store count to 14. The company will open restaurants at Westmont Shopping Center in Beaumont, The Shoppes of Cypress Mill in Cypress and The Crossing at Katy Fulshear in Katy during the first two months of the new year. Paul Vernon and Campbell Vise of Henry S. Miller represented Toasted Yolk Café in the lease negotiations. Following these openings, the restaurant will have 14 locations throughout the Houston area.

November 13, 2019

Acquisitions Midwest Missouri Restaurant Retail

Hanley Investment Group Negotiates $5M Sale of Restaurant Property in St. Louis

by Kristin Harlow November 13, 2019

ST. LOUIS — Hanley Investment Group Real Estate Advisors has negotiated the sale of a single-tenant property occupied by Raising Cane’s Chicken Fingers in St. Louis for $5 million. The 2,913-square-foot restaurant, located at 805 S. Vandeventer Ave., opened in August. Jeff Lefko and Bill Asher of Hanley, along with John Shuff of Pace Properties, represented the seller, Creve Coeur-based Noles Properties. A Newport Beach, Calif.-based private investor purchased the asset. The property sold at a cap rate of 5.97 percent.

November 13, 2019

Acquisitions California Net Lease Restaurant Retail Western

Valore Ventures Sells Triple-Net Leased Outback Steakhouse Property in Southern California

by Amy Works November 8, 2019

GARDEN GROVE, CALIF. — Valore Ventures has completed the sale of a restaurant property located at 12001 Harbor Blvd. in Garden Grove. A private investor acquired the asset for $6.6 million. Outback Steakhouse occupies the 6,180-square-foot building, which was built in 2001, on a triple-net leased basis. The property is situated a mile from Disneyland and Disney California Adventure and minutes from the Anaheim Convention Center. Valore Ventures originally purchased the property as part of a four-building portfolio that included a Red Robin Gourmet Burger and Brews, Joe’s Crab Shack and Oggi’s Pizza & Brewery. This sale is the last of the four fee simple interests that Valore acquired in January for $13.1 million. Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group brokered the transaction.

November 8, 2019

Georgia Leasing Activity Restaurant Retail Southeast

Celebrity-Backed Tavern to Open in Downtown Alpharetta in February

by Alex Tostado November 4, 2019

ALPHARETTA, GA. — Five Guys Taverns LLC has signed a lease to open Taffer’s Tavern at 33 S. Main St. in historic downtown Alpharetta in February 2020. The location will be the first in the nation for Taffer’s Tavern, which is backed by TV star Jon Taffer. Taffer is the host of “Bar Rescue.” The restaurant will be situated in the Liberty Hall building, directly across the street from City Hall. The building will feature the original bar, which was built in the 1700s and imported from England. Taffer’s Tavern will offer a menu that features a vacuum-sealed cooking method that doesn’t use traditional, commercial equipment. Locally based firm Chandlee and Sons Construction will serve as the general contractor. Five Guys Taverns plans to open four more restaurants across the state. The company has teamed with Fransmart, which also partners with companies such as Qdoba Mexican Grill and Five Guys, as its franchise development partner.

November 4, 2019

Leasing Activity Michigan Midwest Restaurant Retail

Vitality Bowls to Open First Location in Michigan

by Kristin Harlow October 28, 2019

GRAND RAPIDS, MICH. — Vitality Bowls is set to open its first location in Michigan. The café, slated to open on Saturday, Nov. 2, is located within the 575,000-square-foot Shops at CenterPoint. Vitality Bowls specializes in acai bowls, including the acai berries and a variety of other superfoods. The restaurant will be open for breakfast, lunch and dinner. There are currently more than 140 Vitality Bowls locations open or in development across the United States. Stonemar Properties owns Shops at CenterPoint.

October 28, 2019

Development Michigan Midwest Restaurant Retail

Taco Bell to Open 2,710 SF Location in Caledonia, Michigan

by Kristin Harlow October 22, 2019

CALEDONIA, MICH. — Taco Bell will open a 2,710-square-foot location at 6445 Cherry Meadow Drive SE in Caledonia, about 20 miles southeast of Grand Rapids. The restaurant is expected to open in November and create 40 jobs. Mike Murray of Colliers International assisted Taco Bell in securing land for the new-construction building. Wolverine Building Group was the general contractor. There are 55 Taco Bell locations across West Michigan, according to Colliers.

October 22, 2019

Leasing Activity Northeast Pennsylvania Restaurant Retail

Sign of the Horse Brewery to Open 4,850 SF Pub in Hanover, Pennsylvania

by Alex Patton October 21, 2019

HANOVER, PA. — Sign of the Horse Brewery will open a 4,850-square-foot bar and pub in Hanover, located approximately 35 miles south of Harrisburg. The company will brew and serve fresh beer as well as a full food menu at 979 York St., a 12,010-square-foot cement warehouse that was redeveloped into retail space. Tenants at the property currently include Earling Chiropractic Clinic, pet cremation service Companions at Peace Inc. and apparel retailer Homefield Advantage. Nate Resh and John Birkeland of ROCK Commercial Real Estate brokered the transaction. The grand opening of the pub is slated for October 22.

October 21, 2019

Development Northeast Pennsylvania Restaurant Retail

Taco Bell to Open 2,700 SF Restaurant in Wind Gap, Pennsylvania

by Alex Patton October 17, 2019

WIND GAP, PA. — Taco Bell will open a new 2,700-square-foot restaurant in Wind Gap, located approximately 70 miles north of Philadelphia. The building will be constructed on the former site of the Wind Gap Professional Center and will be the first Taco Bell in the area. Scott Horner of Colliers International brokered the deal.

October 17, 2019

Acquisitions Illinois Midwest Restaurant Retail

Marcus & Millichap Brokers $4.9M Sale of Restaurant Property in Schaumburg, Illinois

by Kristin Harlow October 7, 2019

SCHAUMBURG, ILL. — Marcus & Millichap has brokered the sale of a 9,999-square-foot restaurant property net leased to Capital Grille in Schaumburg for $4.9 million. The building is located at 2000 E. Golf Road. The existing tenant has a new 10-year lease in place. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer, a limited liability company completing a 1031 tax-deferred exchange. The seller was not disclosed.

October 7, 2019

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