WEST CHESTER TOWNSHIP, OHIO — Marcus & Millichap has brokered the sale of a Texas Roadhouse ground lease in West Chester Township, about 25 miles north of Cincinnati, for $2.5 million. The 7,163-square-foot net leased property is located at 7309 Kingsgate Way and has a 15-year ground lease. Craig Fuller, Erin E. Patton and Scott Wiles of Marcus & Millichap marketed the property on behalf of the seller, a local private developer. An out-of-state buyer completing a 1031 exchange was the purchaser.
MILPITAS, CALIF. — Big Al’s, a sports bar and entertainment chain, has signed a lease for 46,000 square feet of retail space at McCarthy Ranch Marketplace in Milpitas in Silicon Valley. TMS McCarthy LP is the landlord. Located at 15 Ranch Drive, Big Al’s Silicon Valley will be the company’s fifth center and second in California. The store is slated to open for business in late 2018.
NASHVILLE, TENN. — HFF has arranged a $26.7 million construction loan for the adaptive reuse of the former May Hosiery textile mill in Nashville. The development is located at 425 to 431 Chestnut St. and 510 Houston St. in the city’s Wedgewood Houston neighborhood. Danny Kaufman and Christopher Knight of HFF arranged the two-year, floating-rate loan through LoanCore Capital on behalf of the borrower and developer, Chicago-based AJ Capital Partners. Proceeds of the loan will be used for the renovation and remaining lease-up of the property. Constructed in 1909, the 120,000-square-foot facility was originally home to May Hosiery, which made socks through most of the 20th century. AJ Capital Partners is redeveloping the property into a mixed-use space featuring 80,000 square feet of creative office space and 40,000 square feet of retail and restaurant space. In addition, the project will include a private rooftop terrace and central outdoor spaces. At the time of closing, the development was 47 percent preleased to Tuck-Hinton Architects, Southcomm Media, Dream Technologies, Parson’s Chicken & Fish and Blockhouse Barbers.
ORLANDO, FLA. — Stan Johnson Co. has arranged the $15.1 million sale-leaseback of a 16,152-square-foot property in Orlando operating as Del Frisco’s Double Eagle Steakhouse. David Annett, Daniel Herrold, Campbell Black, Jennifer Cameron and Austin Duff of Stan Johnson Co. arranged the transaction on behalf of the seller, Del Frisco’s Restaurant Group. Boca Raton-based Amzak Capital Management acquired the property, and Del Frisco’s is retaining long-term operational control of the asset.
SAN DIEGO — Genesis Kitchen + Design has opened at Campus Point in San Diego. Located at 4242 Campus Point Court, the restaurant is part of the new Genesis life science development complex by Phase 3 Real Estate Partners Inc. The project includes a full-scale fitness center, outdoor lap pool and yoga training patio. The restaurant seats 56 people inside, with seating for 120 outside and a large bar, as well as semi-private outdoor space with a gas fireplace and ping-pong table. Genesis Kitchen + Design offers a seasonal menu, 13 craft beers on tap, nine wines by the glass and local kombucha for lunch Monday through Friday and a happy-hour menu Thursdays and Fridays. Bon Appétit Management Co. will operate the restaurant.
MILWAUKEE — Grassroots Salad Co. has signed a 2,841-square-foot lease at Chase Tower in Milwaukee. The restaurant provides made-to-order salads, wraps and freshly pressed juices for people on the go. Slated to open in spring 2018, this will be the company’s second location. In addition to in-store dining for approximately 50 people, Grassroots will offer catering and delivery. Dedicated to offering locally grown ingredients including antibiotic- and hormone-free proteins, the company is a sustainable business, serving compostable bowls and biodegradable utensils. Chase Tower, owned by Southfield, Mich.-based Farbman Group, is located on the corner of East Wisconsin Avenue and North Water Street. The 22-story, 480,000-square-foot office building recently underwent renovations, including new lighting and painting of the parking garage, new carpet and fresh paint throughout the common areas and the addition of an amenity room.
STAMFORD, CONN. — Building and Land Technology (BLT) is developing Harbor Landing, the redevelopment and rebranding of Stamford Landing and Davenport Landing in Stamford. The project will connect the Stamford Landing office complex and the Davenport Landing boatyard and residential properties. The newly connected waterfront property will be a combination of the former Stamford Landing, a 200,000-square-foot waterfront office complex, and the former Davenport Landing, featuring 218 residential rental units, two restaurants, a full-service boatyard operated by The Hinckley Co., a boardwalk and a marina with more than 120 available slips. The residential portion of the property is slated to begin leasing early this year. On-site amenities at the property include security, a shuttle to the train, a fitness center with yoga studio, marina slips, and two restaurants, Crab Shell and Prime. BLT has retained RHYS as leasing agent for the property.
IRVINE, CALIF. — Taco Bell Corp. has expanded its executive team and leadership capabilities with three new positions as the brand inches toward its goal of being a $15 billion company with 9,000 restaurants globally by 2022. Taco Bell is bringing on Julie Felss Masino as brand president, where she will be responsible for ensuring the brand continues to deliver same-store sales growth by driving innovation, new store development and customer experience. She will also continue the brand’s partnership with its franchisees. This addition will allow CEO Brian Niccol the opportunity to focus on the company’s growth as a global brand while continuing to oversee the U.S. business. Masino comes to Taco Bell from Mattel Inc., where she led the Fisher Price division. Prior to that, she had extensive experience in the restaurant industry. Masino spent 12 years at Starbucks in leadership positions across numerous functions including in marketing, operations and strategic growth — both domestically and globally. She also has experience building newer brands, having served as CEO of Sprinkles Cupcakes Inc., where she grew store count and diversified retail product offerings, successfully launching its newest concept of cupcakes and ice cream. As part of the company’s structuring for …
PORTLAND, MAINE — Cardente Real Estate has arranged the sale of a restaurant property located at 476 Stevens Ave. in Portland. Rock Properties sold the property to 476 Stevens Ave LLC for $1.1 million. Siano’s Pizzeria formerly occupied the 4,091-square-foot restaurant building. Cheri Bonawitz of Cardente Real Estate represented the seller, while Mike Anderson of Malone Commercial Brokers represented the buyer in the deal.
LOS ANGELES — Centre Partners, a leading middle market private equity firm with offices in Los Angeles and New York, has sold its portfolio company Captain D’s. The buyer and price were not disclosed. Captain D’s is a seafood-themed operator in the quick-service restaurant (QSR) sector. The Captain D’s system consists of 530 restaurants, including 227 franchised and 303 company-owned locations in 21 U.S. states, with established strongholds in the Southeast and Midwest. Founded in 1986, Centre Partners has invested over $2 billion of equity capital in more than 75 transactions since its inception.