Restaurant

SRS Arranges $3.4M Ground Lease Sale of Joe’s Crab Shack-Occupied Property Near Disneyland

by Amy Works June 11, 2019

GARDEN GROVE, CALIF. — SRS Real Estate Partners has arranged the sale of the ground lease for a single-tenant restaurant property, located at 12011 Harbor Blvd. in Garden Grove. A Southern California-based private investor sold the property for $3.4 million. Joe’s Crab Shack occupies the asset, which is situated along restaurant row approximately 1.2 miles from Disneyland. Patrick Luther and Matthew Mousavi of SRS’ National Net Lease Group represented the buyer, a Southern California-based private investor, in the all-cash transaction.

June 11, 2019

Acquisitions Illinois Midwest Restaurant Retail

Marcus & Millichap Brokers $1.5M Sale of Property Net Leased to Wendy’s in Suburban Chicago

by Kristin Harlow May 31, 2019

ELK GROVE VILLAGE, ILL. — Marcus & Millichap has brokered the sale of a 2,331-square-foot building net leased to Wendy’s in Elk Grove Village for $1.5 million. The property is located at 900 Busse Road. Brian Parmacek of Marcus & Millichap marketed the property on behalf of the seller. Calvin Lee of Marcus & Millichap secured and represented the buyer.

May 31, 2019

Acquisitions Illinois Midwest Restaurant Retail

SVN Brokers $1.1M Sale of Restaurant Property in Algonquin, Illinois

by Kristin Harlow May 28, 2019

ALGONQUIN, ILL. — SVN | Chicago Commercial has brokered the sale of a 7,549-square-foot restaurant property in Algonquin for $1.1 million. The freestanding building is located at 2561 County Line Road. Tim Rasmussen and Olivia Czyzynski of SVN brokered the transaction. The buyer, an operator of Mexican restaurants, plans to open a casual Mexican concept, according to Rasmussen.

May 28, 2019

California Development Leasing Activity Restaurant Retail Western

Two New Restaurants to Open at Manhattan Village in Southern California

by Amy Works May 24, 2019

MANHATTAN BEACH, CALIF. — Two new restaurants are joining the tenant roster at Manhattan Village, a 573,000-square-foot indoor/outdoor mixed-use dining and retail property located in Manhattan Beach. The restaurants are: • dan by ROC (Republic of China), a new concept from ROC that offers home-cooked Chinese food, specializing in dumplings and noodles. Situated within the Village Shops, the 3,500-square-foot location is scheduled to open in fall 2020. • edo Little Bites, which is the newest creation of Chef Edoardo Baldi, creator of e.baldi. Located in Village Shops, the 642-square-foot eatery is slated to open in fall 2020. Kristin Grove and Devin Klein of JLL secured the new tenants. In January, the second phase of redevelopment at Manhattan Village started and includes the Village Shops, which encompasses more than 60,000 square feet of retail and restaurant space, two parking decks, a large green space for community gatherings, a water feature, clock tower, seating areas and lush landscaping. Completion of the Village Shops is scheduled for 2021. Situated on 44 acres, Manhattan Village is currently home to Apple, Williams-Sonoma, Pottery Barn, Pottery Barn Kids, Macy’s, Sephora, Victoria’s Secret, Tommy Bahama and Kiehl’s. The project is being developed in phases and slated for …

May 24, 2019

Leasing Activity Midwest Minnesota Restaurant Retail

Brick & Bourbon to Open at Apartment Property in Eden Prairie, Minnesota

by Kristin Harlow May 24, 2019

EDEN PRAIRIE, MINN. — Brick & Bourbon, a craft bar and eatery, has signed a lease to occupy space within Elevate at Southwest Station Apartments in Eden Prairie. The apartment project is expected to open in late August, with Brick & Bourbon opening by the end of the year. This will be the fourth location for Brick & Bourbon. Unique offerings include the candied bacon flight, chocolate cigars and Reuben soup in a crock, along with more traditional fare such as sandwiches, ribs and wings. The space will include an outdoor patio. The $63.7 million Elevate includes 13,000 square feet of retail space. Kaas Wilson Architects designed the 222-unit project. Frana Cos. is the general contractor.

May 24, 2019

Leasing Activity Restaurant Retail Texas

Eataly to Open 48,000 SF Italian Marketplace at NorthPark Center in Dallas

by Taylor Williams May 23, 2019

DALLAS — Eataly, a concept that offers Italian-inspired food and drink in a marketplace setting, has signed a lease to open a 48,000-square-foot space at NorthPark Center, an enclosed shopping mall in Dallas. This location will be the company’s first in Texas. Scott Muller, Katie Rambie, Kiley Pipkin, Zach Ballenger, Justin Rasansky, Sydney Muller and Jack Gosnell of CBRE represented Eataly in the lease negotiations.

May 23, 2019

Arizona Development Restaurant Retail Western

Capital One to Open First Café Location in Arizona at Scottsdale Fashion Square

by Amy Works May 15, 2019

SCOTTSDALE, ARIZ. — Capital One is slated to open its first Capital One Café location in Arizona at Macerich’s Scottsdale Fashion Square in early 2020. As the first of its kind in Arizona, Capital One Café integrates digital tools and in-person interactions focused on customer needs. Open to both Capital One account holders and non-account holders, the café will offer customers a place to get help with their accounts, learn about new digital and financial tools, free Wi-Fi, and coffee and pastries made by a local baker. The 5,792-square-foot Capital One Café in Scottsdale will join 15 other locations around the country. Cafés are currently located in Austin, Boston, Boulder, Colo., Denver, Los Angeles, Philadelphia, Richmond, Va., San Francisco, Seattle, South Florida, St. Cloud, Minn., Portland, Ore., San Diego and Washington, D.C.

May 15, 2019

Leasing Activity Restaurant Retail Texas

Poké Concept to Open at 35,000 SF Food Hall Within Downtown Houston’s Capitol Tower

by Taylor Williams May 14, 2019

HOUSTON — SeaSide Poké has become the latest addition to the tenant roster at Understory, a 35,000-square-foot food hall and communal gathering spot within international developer Skanska’s Capitol Tower office building in downtown Houston. SeaSide Poké, which will occupy approximately 500 square feet within the 9,000-square-foot culinary market, joins East Hampton Sandwich Co., Boomtown Coffee, Mama Ninfa’s Tacos y Tortas, MONA Fresh Italian Food and Flip ‘n Patties as the first six tenants at Understory. Nick Hernandez, Crystal Allen and Lacee Wilke of Transwestern represented Skanska and SeaSide Poké in the lease negotiations. Understory is scheduled to open later this year.

May 14, 2019

Acquisitions Net Lease Restaurant Retail Utah Western

FCPT Acquires Three Restaurant Properties in Utah for $4.9M

by Amy Works May 6, 2019

LOGAN, UTAH — Four Corners Property Trust (FCPT) has purchased three restaurant outparcel properties located adjacent to a mall in Logan. The aggregate acquisition price was $4.9 million. The name of the seller was not released. The properties are a Texas Roadhouse, Olive Garden and Arby’s, and each property is leased to corporate operators under triple-net leases with approximately seven years of weighted average term remaining.

May 6, 2019

Leasing Activity Michigan Midwest Restaurant Retail

The Donut Conspiracy to Open Two New Locations in Michigan

by Kristin Harlow April 30, 2019

GRAND RAPIDS AND GRANDVILLE, MICH. — The Donut Conspiracy is opening two new locations in Grand Rapids and Grandville in western Michigan. The Grand Rapids store will span 1,500 square feet and include an industrial kitchen for production. The Grandville store, formerly home to Orange Leaf Frozen Yogurt, spans 1,800 square feet. The Donut Conspiracy was founded in 2017. Each location features vintage décor and themes around historic conspiracy theories.

April 30, 2019

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