Restaurant

Howard CDM, SteelCraft Break Ground on Outdoor Urban Eatery in Bellflower, California

by Amy Works June 1, 2018

BELLFLOWER, CALIF. — Developer Howard CDM, along with SteelCraft founder Kimberly Gros and Bellflower Mayor Ray Bunton, has broken ground on SteelCraft Bellflower, an outdoor urban eatery located at 16500 Bellflower Blvd. in Bellflower. Comprised of repurposed shipping containers, SteelCraft Bellflower will feature 12,500 square feet, totaling 14 shipping containers and approximately 400 seats. Studio One Eleven and Turpin Design Group are serving as architect and kitchen designer, respectively, for the project. When completed in this fall, the development will bring nine new businesses to the downtown area: five food offerings, craft beer, wine, coffee and dessert. The coffee and dessert operators will be open to the street to accommodate street traffic, as well as SteelCraft Bellflower patrons. The current tenant roster includes: Ten Mile Brewing – A pet- and kid-friendly space opening its satellite taproom at SteelCraft Bellflower. Solid Coffee Roasters – The Artesia, Calif.-based company roasts its own beans in-house for fresh pour-overs and Nitro Cold Brews. Cassidy’s Corner – The bakery will serve freshly baked bagels, bagel bites, sandwiches, fresh-pressed juices and acai bowls all day. The Standing Room – Lowell Bakke’s restaurant, which earned him a cult following, will open its third location at SteelCraft Bellflower. …

June 1, 2018

Hawaii Leasing Activity Restaurant Retail Western

CoastWood Capital Signs Four New Tenants to 150,000-Square-Foot Outlets of Maui

by Amy Works May 25, 2018

LAHAINA, HAWAII — CoastWood Capital Group LLC has signed four new tenants to The Outlets of Maui, a 150,000-square-foot, open-air shopping center in Lahaina. Waikiki Brewing Co. will open at the center, joining restaurant tenants such as Ruth’s Chris Steak House and PI Artisan Pizza. The 3,940-square-foot brewpub will open this fall. Other tenants that will join the Outlets of Maui include: Kate Spade, which will open a 3,250-square-foot store this fall; Le Creuset, scheduled to open a 1,600-square-foot location in June; and Maui Sunglass/Maui Jim, which will relocate to a new, 950-square-foot location within the center. In addition to the new retailers, Warren & Annabelle’s an entertainment venue for magic and comedy, will undergo a complete renovation to its existing 5,700-square-foot space. Existing tenants at the Outlets of Maui include Coach, Michael Kors, Gap Factory Store, Banana Republic Factory Store and Tommy Hilfiger.

May 25, 2018

California Development Mixed-Use Multifamily Restaurant Retail Western

City of Alameda, Alameda Point Partners Break Ground on $1B Mixed-Use Development on Former Naval Air Station

by Amy Works May 24, 2018

ALAMEDA, CALIF. — The City of Alameda and Alameda Point Partners have broken ground on the first phase of the $1 billion mixed-use, transit-oriented waterfront development at the gateway to Alameda Point, called Site A. The 68-acre Site A development is located on the former Naval Air Station Alameda, which closed more than 20 years ago. Alameda Point Partners is a joint venture between managing partner Trammell Crow Residential, a division of Dallas-based Crow Holdings; commercial developer srmERNST Development Partners; affordable nonprofit housing developer Eden Housing; retail landlord Madison Marquette; and financial partner Cypress Equity Investments. Slated to cost $500 million, the first phase of the Site A project consists of 673 housing units, including 130 affordable units for low-income households and an additional 310 units for middle-income households; eight acres of parks and open space; and 100,000 square feet of retail, dining and marker space, as well as community event and gathering space. Major infrastructure improvements on the 30-acre Phase I project include new water, sewer, electrical and gas lines, newly paved streets with bike and transit lanes, and bulkhead improvements on Seaplane Lagoon for a new ferry terminal. Eden Housing will develop 130 affordable housing units during Phase …

May 24, 2018

Market Reports Property Type Restaurant Retail Southeast Market Reports

Diverse Population, UAB Help Retail, Restaurants Expand in Birmingham

by John Nelson May 21, 2018

It wasn’t until the last five to seven years that college graduates started looking at Birmingham as a place to live and work. Cities like Nashville and Atlanta were getting too expensive and too congested. Upon discovering how progressive Birmingham has become with the revitalization of the downtown area, it became the new hot place to live, play and work. So what was once an untapped market has started to grow with new retailers and restaurants to meet the growing demand. The addition of Topgolf to downtown Birmingham, for example, would not have happened without the influx of new multifamily projects in the downtown/southside area. Birmingham has also seen a growth of new restaurants to the area because of the diversity of population. The number of medical and undergraduates students studying at the University of Alabama-Birmingham (UAB) Medical complex has contributed to the diversity. As such, restaurants and retailers that cater to this diversity have begun to open in the area. The Pizitz Food Hall is a prime example as it includes two restaurants and 12 food stalls serving cuisines from all over the world, including Italian, Israeli, Ethiopian, Japanese, Vietnamese, Indian and traditional Southern soul food like fried chicken …

May 21, 2018

Acquisitions California Healthcare Mixed-Use Office Restaurant Retail Western

NKF Capital Markets Brokers $97.1M Sale of Mixed-Use Property in La Jolla

by Amy Works May 18, 2018

LA JOLLA, CALIF. — NKF Capital Markets has brokered the sale of The Campus on Villa La Jolla, a five-building mixed-use campus located at 8910 and 8980 Villa La Jolla Drive in La Jolla. GPI Cos. acquired the campus from La Jolla Village Professional Center Associates for $97.1 million. Kevin Shannon, Brunson Howard, Ken White, Paul Jones and Rick Stumm of NKF Capital Markets represented the seller in the deal. The buyer was self-represented. Situated on 6.8 acres, the 198,453-square-foot campus features a three-building professional center with office and medical tenants; a stand-alone medical office building; and a restaurant building fully occupied by Rock Bottom Brewery & Restaurant. At the time of sale, the property was 83 percent occupied. More than half of the campus is leased to the Regents of the University of California. The University of California, San Diego’s main campus is physically connected to the property via a walking bridge that passes over La Jolla Village Drive.

May 18, 2018

California Development Restaurant Retail Western

Regency Centers Selects Urbanspace to Operate Culver Public Market in Culver City, California

by Amy Works May 18, 2018

CULVER CITY, CALIF. — Regency Centers has selected Urbanspace to operate its Culver Public Market, a market hall located at the intersection of Washington Boulevard and Centinela Avenue in Culver City. The 26,000-square-foot hall will feature a variety of vendors, including artisans, entrepreneurs and chefs. Urbanspace connects small business owners and chefs with customers by reaching out to new communities and spaces. This is Urbanspace’s first entry into California. The company also operates Grand Central Holiday Fair and Union Square Holiday Market in New York City. Construction is slated to begin this fall with delivery in early 2020.

May 18, 2018

Alabama Development Leasing Activity Mixed-Use Restaurant Retail Southeast

RCP Signs Three Restaurant Concepts to Join $350M MidCity Project in Huntsville

by Camren Skelton May 17, 2018

HUNTSVILLE, ALA. — RCP Cos. has signed three restaurant concepts to join the tenant lineup at MidCity, a $350 million mixed-use development under construction in Huntsville. Two celebrity-driven dining concepts — Wahlburgers and Rascal Flatts — will open first-to-market locations at the project. Wahlburgers, owned by reality TV and movie star brothers Mark, Donnie and chef Paul Wahlberg, will open a 4,000-square-foot location at the development. The location will be Wahlburgers’ second in Alabama. Construction on the restaurant is expected to begin this year, with a scheduled opening in 2019. Rascal Flatts — named for and endorsed by the country music band of the same name — will open a 7,500-square-foot restaurant that will feature a Southern-inspired menu, live entertainment, sound stage, a bar and retail space. Currently und er design, Rascal Flatts will be located across the bridge from Topgolf. Upon opening in 2019, the location will mark the restaurant’s first in the Southeast. In addition, Alchemy Lounge, a coffee house that offers an assortment of coffee, craft beer and other beverages and treats, will open at The Camp, MidCity’s music and arts outdoor entertainment venue. Currently under construction, the venue is scheduled to open in June. The new …

May 17, 2018

Acquisitions California Restaurant Retail Western

Faris Lee Brokers $3.8M Acquisition of Two-Tenant Restaurant Building in Los Banos, California

by Amy Works May 10, 2018

LOS BANOS, CALIF. — Faris Lee Investments has arranged the purchase of a two-tenant restaurant building located at 1335 W. Pacheco Ave. in Los Banos. LFG Los Banos LLC sold the property to a to a Newport Beach-based private investor. Shaun Riley of Faris Lee represented the buyer, while John Andreini of Capital Pacific represented the seller in the deal. Built in 2017, the 5,500-square-foot property includes one drive-thru and 39 parking spaces. The building is fully occupied by Blaze Pizza and Habit Burger, both quick-serve restaurants.

May 10, 2018

Acquisitions Illinois Midwest Restaurant Retail

Premier Brokers Sale of 5,085 SF Building Formerly Occupied by Fradillio’s Restaurant in Algonquin, Illinois

by Kristin Harlow May 7, 2018

ALGONQUIN, ILL. — Premier Commercial Realty has brokered the sale of a 5,085-square-foot building formerly occupied by Fradillio’s restaurant in Algonquin. The property, located at 2321 Algonquin Road, includes a drive-thru. Bruce Kaplan and Kevin Kaplan of Premier represented the seller, North Shore Bank. Eddie Hernandez of Casa Grande Realty represented the buyer, who plans to open a Burrito Parrilla Mexicana restaurant. There are currently six other Burrito Parrilla Mexicana locations in Illinois.

May 7, 2018

Acquisitions Midwest Ohio Restaurant Retail

Marcus & Millichap Negotiates $2.3M Sale of McDonald’s Ground Lease in Canton, Ohio

by Kristin Harlow April 25, 2018

CANTON, OHIO — Marcus & Millichap has negotiated the $2.3 million sale of a McDonald’s ground lease in Canton. The 4,673-square-foot property, built in 2014, is located at 4643 Belden Village St. The ground lease is for 20 years. Erin Patton, Scott Wiles and Craig Fuller marketed the property on behalf of the seller, a local developer. The buyer, a private investor, was completing a 1031 exchange.

April 25, 2018

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