Restaurant

Unibail-Rodamco-Westfield to Redevelop 160,000 SF Former Los Angeles Sears Store into Dining, Entertainment District

by Amy Works January 8, 2020

LOS ANGELES — Unibail-Rodamco-Westfield plans to redevelop the long-vacated former Sears department store in the Canoga Park neighborhood of Los Angeles into a new dining and entertainment district. The empty store is located in the Westfield Topanga & The Village shopping center. Slated to open in late 2021, the new district will feature a chef-driven food hall, sit-down restaurants, lounges, cocktail bars, interior and exterior boutiques, and entertainment and recreational activities, as well as landscaped indoor and outdoor public spaces and plazas. The renovation will also create a grand entrance for Westfield Topanga and improved connectivity with The Village. Neiman Marcus, Nordstrom, Macy’s, Target, Tesla, Apple, Microsoft, Anthropologie, Tiffany & Co., Gucci, Salvatore Ferragamo, Louis Vuitton, Cartier, Montblanc, Rolex and Saint Laurent are current tenants at Westfield Topanga & The Village, which is located at 6600 Topanga Canyon Blvd.

January 8, 2020

Leasing Activity Restaurant Retail Texas

Woodmont Secures Daylight Golf Lease in Grapevine, Venue to Open in Summer

by John Nelson January 7, 2020

GRAPEVINE, TEXAS — The Woodmont Co. has arranged a 14,713-square-foot retail lease for Daylight Golf, a new virtual golf and sports bar concept, at 2505 E. Grapevine Mills Circle in Grapevine. Set to open this summer, the Daylight Golf venue will be situated on two acres along the outer ring road of Grapevine Mills, a regional mall owned by Simon that attracts more than 10 million visitors annually. The venue will feature virtual golf simulators for courses around the world, an outdoor patio, full kitchen and bar and 40 TVs. The retail location was previously The Trail Dust and Love & War in Texas of Grapevine. Andy Anderson of Henry S. Miller Brokerage’s restaurant property group represented Daylight Golf in the lease deal. Derek Anthony, Grant Gary and David Adams of Woodmont represented the landlord, CJK Grapevine Properties.

January 7, 2020

Acquisitions Midwest Minnesota Restaurant Retail

Marcus & Millichap Arranges $1.7M Sale of Net-Leased Arby’s Property in Minnesota

by Kristin Harlow January 3, 2020

AUSTIN, MINN. — Marcus & Millichap has arranged the $1.7 million sale of a 3,713-square-foot property net leased to Arby’s in Austin, approximately 40 miles southwest of Rochester in southern Minnesota. Tom Gommels of Marcus & Millichap’s Minneapolis office marketed the single-tenant building, located at 1305 18th Ave. NW, on behalf of the seller, a limited liability company. Chad Lieber of Marcus & Millichap’s Newport Beach office secured and represented the buyer, an individual trust based in California.

January 3, 2020

Leasing Activity Restaurant Retail Texas

Whitestone REIT Signs Two Restaurant Concepts to Join Parkside Village South in Austin

by John Nelson January 2, 2020

AUSTIN, TEXAS — Whitestone REIT has signed two new restaurant concepts to join Parkside Village South, a shopping center located at 5701 W. Slaughter Lane in southwest Austin. The two restaurants, Oasthouse Kitchen + Bar and Keepers, will occupy 8,043 square feet and share a kitchen. Local restaurateurs Amir Hajimaleki and Ali Hajimaleki created the two concepts. The Parkside Village South location will be the second Oasthouse restaurant, while Keepers is a new seafood concept. The brothers also operate District Kitchen in Austin, which opened in 2013. Parkside Village South’s tenant roster includes Alamo Drafthouse Cinema, Chase Bank, Orangetheory Fitness, Kumon Learning Center, ATX Bike Shop, Kid Spa Austin and Burger Fi.

January 2, 2020

Leasing Activity Restaurant Texas

Mooyah Burgers Opens New Restaurant at Stonebriar Centre in Frisco Within KidZania USA

by John Nelson January 2, 2020

FRISCO, TEXAS — MOOYAH Burgers, Fries & Shakes, a fast-casual burger chain based in Plano, has partnered with KidZania USA, an interactive 85,000-square-foot indoor “city” for kids ages 6 to 14, to be one of the featured restaurant experiences within KidZania’s first North America location. The indoor family entertainment center, which now has 29 locations in 22 countries, opened at Stonebriar Centre in Frisco. Brookfield Properties owns the mall. Guests at Mooyah can be their own chefs by creating their own hand-cut fries and real ice cream shakes. According to the Brookfield website, there are more than 100 occupations that children can utilize at the KidZania USA location.

January 2, 2020

Leasing Activity Midwest Restaurant Retail Wisconsin

Pizza Chain Lou Malnati’s Leases 2,074 SF in Milwaukee

by Kristin Harlow January 2, 2020

MILWAUKEE — Lou Malnati’s Pizzeria has leased 2,074 square feet at Riverpoint Village in Milwaukee. The Chicago-style pizza restaurant chain will occupy space at 8629 N. Port Washington Road. Fred Stallé of Mid-America Real Estate-Wisconsin represented the undisclosed landlord in the lease transaction.

January 2, 2020

Acquisitions California Restaurant Retail Western

Hanley Investment Group Negotiates $4.7M Sale of Starbucks-Occupied Asset in Mammoth Lakes, California

by Amy Works December 16, 2019

MAMMOTH LAKES, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a retail property located in Mammoth Lakes. A Los Angeles-based private partnership sold the to a San Diego-based private investor for $4.7 million, or $1,065 per square foot. Built in 1984 and renovated in 2018, the 4,435-square-foot, single-tenant building is situated on 1.22 acres at 2935 Main St. Starbucks Coffee occupies the drive-thru property on a long-term lease with rent increases every five years. Bill Asher, Kevin Fryman and Jeff Lefko of Hanley Investments represented the seller, while Blake Tagmyer of Cushman & Wakefield’s San Diego office represented the buyer in the deal.

December 16, 2019

Acquisitions Illinois Midwest Restaurant Retail

Adelphia Properties Brokers Sale of 5,400 SF Restaurant Building in Metro Chicago

by Kristin Harlow December 12, 2019

VILLA PARK, ILL. — Adelphia Properties has brokered the sale of a 5,400-square-foot restaurant building in Villa Park, about 20 miles west of Chicago. The sales price was undisclosed. The vacant property, formerly occupied by Park West Pancake House, is located at 10 E. Roosevelt Road. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a Chicago-based private investor. The buyer was also a Chicago-based private investor.

December 12, 2019

Acquisitions Michigan Midwest Restaurant Retail

Captain D’s to Open at Former Dunkin’ Property in Michigan

by Kristin Harlow December 9, 2019

CLINTON TOWNSHIP, MICH. — Gerdom Realty & Investment has arranged the sale of a 2,822-square-foot retail property formerly occupied by Dunkin’ in Clinton Township, north of Detroit. The sales price was undisclosed. The building is located on Groesbeck Highway, just north of 15 Mile Road. Tjader Gerdom and Vicki Gutowski of Gerdom represented the seller. Matt Croswell of CBRE represented the buyer, a Captain D’s restaurant franchisee. This will be the first Captain D’s restaurant in Michigan.

December 9, 2019

Acquisitions Arizona Office Restaurant Retail Western

Sumitomo Acquires 24-Story Collier Center Commercial Complex in Downtown Phoenix

by Amy Works December 6, 2019

PHOENIX — Sumitomo Corp. of Americas has purchased Collier Center, a 2.8-acre commercial complex in downtown Phoenix. Eastdil Secured handled the transaction. Terms of the deal, including acquisition price and seller, were not disclosed. The 24-story property features more than 578,000 square feet of rentable space, including a variety of restaurants and bars, plus a three-level underground parking garage. At the time of acquisition, the building was 84 percent occupied, with Bank of America and Uber among its largest tenants. With this new acquisition, Sumitomo owns a commercial real estate portfolio totaling over $425 million to date with more than 1.6 million square feet of commercial space.

December 6, 2019

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