Restaurant

Yumbrella Food Hall Opens at The Shops at Sunset Place in South Miami

by Alex Tostado March 20, 2019

SOUTH MIAMI, FLA. — Yumbrella Food Hall is now open at The Shops at Sunset Place in South Miami. Led by food truck organizer and restaurateur Steve Simon, Yumbrella is the only food hall in the city, paying homage to Miami’s original food hall, which opened in the 1970s by the same name. The 6,500-square-foot hall features seven restaurant concepts ranging from Chinese to soul food, Italian, Latin, American and German fare. Confirmed food hall vendors include Cracked by Chef Adrianne, Dr. Limon Express, Killer Melts, NOODS, King of Racks BBQ, The Tonic and The Beverly. Amenities include a shared kitchen, full bar, stage for musical performances and a private room for events. The Shops at Sunset Place has been owned and operated by Federal Realty Investment Trust, Grass River Property and The Comras Co. since 2015. Other tenants at The Shops at Sunset Place include AMC Theatres, LA Fitness, Tea & Poets, Splitsville and Z-Gallerie.

March 20, 2019

Leasing Activity Restaurant Retail Texas

Venture Commercial Executes Two Restaurant Leases Totaling 11,225 SF in North Texas

by Taylor Williams March 15, 2019

DENTON AND ADDISON, TEXAS — Venture Commercial has executed two restaurant leases totaling 11,225 square feet in North Texas. The Lion & Crown, an English-style pub, will occupy 9,700 square feet at 101 W. Hickory St. in Denton, and 3 Natives Juice Bar has signed a 1,525-square-foot lease at 5100 Belt Line Road in Addison. In the first transaction, Greg Blandford of Venture Commercial represented the tenant, and Alex Payne of Axis Realty Group of Denton Inc. represented the landlord. In the second deal, Tim Henson of Venture Commercial represented the tenant and Amanda Throckmorton and Easley Waggoner, also with Venture Commercial, represented the landlord.

March 15, 2019

Acquisitions California Restaurant Retail Western

Hanley Investment Arranges $2.6M Sale of Single-Tenant Restaurant Building in Barstow, California

by Amy Works March 13, 2019

BARSTOW, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a newly delivered retail asset, located at 2804 Lenwood Road in Barstow. An Orange County, Calif.-based partnership sold the property to a Los Angeles-based private investor for $2.6 million, or $1,000 per square foot. The newly constructed 2,600-square-foot building features a drive-thru. A combination Dunkin’ and Baskin-Robbins occupies the single-tenant property. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Paul Bahk and James Chin of Los Angeles-based Realtex Properties represented the buyer in the transaction.

March 13, 2019

Development Midwest Ohio Restaurant Retail

True Food Kitchen to Open First Location in Ohio at Easton Town Center

by Kristin Harlow March 13, 2019

COLUMBUS, OHIO — True Food Kitchen is opening its first location in Ohio at Easton Town Center. Set to open in 2020, the 6,000-square-foot restaurant will feature both indoor and outdoor dining space as well as a bar. True Food Kitchen offers vegetarian, vegan and gluten-free dishes and operates 26 locations in 11 states. Easton Town Center is currently undergoing a $500 million, 16-acre expansion. L Brands, The Georgetown Company and Steiner + Associates make up the development team.

March 13, 2019

Acquisitions California Lee & Associates Restaurant Retail Western

Lee & Associates Brokers $1.2M Sale of Little Caesars Restaurant Asset in Pico Rivera, California

by Amy Works March 7, 2019

PICO RIVERA, CALIF. — Lee & Associates has arranged the sale of a restaurant property, located at 9209 Telegraph Road in Pico Rivera. NLA Pico Rivera sold the property to Bellside Property Management for $1.2 million. The built-to-suit property was completed in late December for Little Caesars. Situated on 0.2 acres, the 1,252-square-foot building features a drive-thru. Ryan Barr and Ryan Bennett of Lee & Associates – North San Diego County represented the seller, while Lee & Associates – Riverside represented the buyer in the deal.

March 7, 2019

Development Restaurant Retail Utah Western

Evergreen Devco Opens Pleasant Grove Town Center Retail Development in Utah

by Amy Works March 5, 2019

PLEASANT GROVE, UTAH — Evergreen Devco has opened Pleasant Grove Town Center, its first retail development in Utah. Located at 855 W. State St. in Pleasant Grove, the 1-acre site is now home to Mo’ Bettahs Hawaiian Style Food, which opened on Feb. 22, and Beans & Brews Coffee House, which opened in late January. The third, and final, anchor tenant, Dough Co., is scheduled to open its third edible cookie dough shop at the retail center this spring. Completed in November 2018, the fully leased development site was built by Draper, Utah-based Rimrock Construction and designed by Farnsworth Group.

March 5, 2019

Development Illinois Midwest Restaurant Retail

Original Pancake House to Open 3,800 SF Restaurant in Peoria

by Taylor Williams March 1, 2019

PEORIA, ILL. — Portland, Ore.-based breakfast chain Original Pancake House will open a 3,800-square-foot restaurant within Grand Prairie Developments, a 200-acre mixed-use development by Cullinan Properties Ltd., in Peoria. The landlord will break ground on a new space for the restaurant this spring, with the opening slated for October. Major anchors at Grand Prairie Developments include AMC Theatre, Hy-Vee and Dick’s Sporting Goods in addition to numerous restaurants, retail stores and five hotels. Adjacent to the development is the $18 million Louisville Slugger Sports Complex estimated to draw 450,000 visitors each year.

March 1, 2019

Acquisitions California Mixed-Use Multifamily Restaurant Retail Western

Colliers Brokers $9M Sale of Two Mixed-Use Properties in La Jolla, California

by Amy Works February 28, 2019

LA JOLLA, CALIF. — Colliers International San Diego Region has arranged the sale of two adjacent mixed-use properties in downtown La Jolla. Located at 7527-7535 and 7545-7553 Girard Ave., the assets sold for a combined total of $9 million. Bill Shrader of Colliers International San Diego Region’s Urban Property Team represented the seller of both properties, Rancho Girard LLC. Shrader also represented the buyer, YDNL LLC, of 7527-7535 Girard Ave., while Michael McNally of Pacific Commercial Management represented the undisclosed buyer of 7545-7553 Girard Ave. The 7545-7553 Girard Ave. property is a 7,649-square-foot restaurant and retail building occupied by Harry’s Coffee Shop and Everett Stunz. Situated on a 9,749-square-foot lot, the building at 7527-7535 Girard Ave. features two residential apartments and long-term retail tenants, including Dewhurst & Associates and Salon Spruce, among others.

February 28, 2019

Acquisitions California Restaurant Retail Western

SRS Brokers $3M Sale of Del Taco-Occupied Restaurant in Chatsworth, California

by Amy Works February 25, 2019

CHATSWORTH, CALIF. — SRS Real Estate Partners’ National Net Lease Group has brokered the sale of a single-tenant restaurant asset, located at 21920 Lassen St. in Chatsworth. A private investor acquired the property for $3 million, or $1,540 per square foot. Del Taco occupies the approximately 1,961-square-foot property, which features a 24-hour drive-thru, on a long-term absolute triple-net, corporate-guaranteed lease with more than 12 years remaining. Built in 1989, the property is situated on 0.4 acres. Matthew Mousavi and Patrick Luther of SRS, in cooperation with Brandon Trevellyan of Capital Real Estate Ventures, represented the seller, a privately held partnership, while Warren Berzack of Lee & Associates represented the buyer in the deal.

February 25, 2019

Acquisitions California Mixed-Use Restaurant Retail Top Stories Western

CBRE Brokers $80M Sale of 430,000 SF Anaheim GardenWalk Near Disneyland

by Amy Works February 22, 2019

ANAHEIM, CALIF. — CBRE’s National Retail Partners-West has brokered the sale of Anaheim GardenWalk, a mixed-use entertainment center located at 400 Disney Way in Anaheim. A partnership between New York City-based Arcturus and two private equity investors sold the property to Whittier, Calif.-based STC Management, on behalf of a partnership between local and Taiwanese investors, for $80 million. Situated within walking distance of Anaheim’s Disneyland Resort and the Anaheim Convention Center, the three-story, open-air project features 430,000 square feet of leasable space. Current tenants include House of Blues Anaheim, Bowlmor Bowling Center, AMC Theatres, 24 Hour Fitness, The Cheesecake Factory, P.F. Chang’s China Bistro and California Pizza Kitchen. The asset was designed by Callison Architects, in collaboration with Lyons Warren Engineers + Architects, in 2007. It currently features an under-construction, 466-key J.W. Marriott (not part of the sale) abutting GardenWalk. The property is also designed to accommodate 399 timeshare units atop its 2,900-stall parking garage and another 400-key hotel, which is planned to be built at the northwest corner of Katella Avenue and Clementine Street. Jimmy Slusher, Kirk Brummer, Sean Heitzler and Philip Voorhees of CBRE represented the seller in the transaction. “Landmark properties such as GardenWalk only exist around …

February 22, 2019

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