Restaurant

The Slanted Door to Open First Restaurant Outside California

by Nellie Day May 25, 2017

LAS VEGAS — Simon is adding The Slanted Door to The Forum Shops at Caesars Palace, opening in 2018. It will be the Vietnamese restaurant’s first location outside of California. A modern Vietnamese restaurant with roots in San Francisco’s Mission District, the 8,200-square-foot restaurant will be located on Las Vegas Boulevard. The Slanted Door opened its first restaurant in 1995 and received the James Beard Outstanding Restaurant award in 2014, which is given to only one restaurant nationally a year. The Forum Shops at Caesars Palace first opened in May 1992. After two subsequent expansions, The Forum Shops now offers 675,000 square feet of retail, dining and entertainment. Simon owns shopping, dining, entertainment and mixed-use properties.

May 25, 2017

Colorado Restaurant Retail Western

Church’s Chicken To Add 20 New Restaurants in Six States

by Nellie Day May 22, 2017

DENVER — Church’s Chicken has entered into a multi-year development deal with Goalz Restaurant Group LLC to develop 20 Church’s Chicken restaurants per year in six states. The agreement, which will affect expansion in Colorado, as well as Florida, Kentucky, Ohio, North Carolina and South Carolina, is Church’s largest ever with a single operator. For the new development deal, Shawn Eby, president of Goalz Restaurant Group, partnered with American Development Partners (ADP) for development of the restaurants. ADP will invest capital to fund real estate acquisitions, construction and design. ADP will be Goalz’s build-to-suit landlord.

May 22, 2017

Florida Restaurant Retail Southeast Top Stories

Whitman Family Development Wins Approval for $400M Enhancement Plan of Bal Harbour Shops

by John Nelson May 18, 2017

BAL HARBOUR, FLA. — Whitman Family Development has gained final approval from the Bal Harbour Village Council for the $400 million enhancement plan for Bal Harbour Shops, an upscale, 450,000-square-foot, open-air shopping center located in Bal Harbour, an incorporated village near Miami Beach. The plan has been revised multiple times over the past decade, according to the Miami Herald. Whitman Family Development will add 340,387 square feet of retail space at Bal Harbour Shops, nearly doubling its footprint. The upgraded center will feature the first Barneys New York flagship store in the Southeast, upgrades to longtime anchor tenant Neiman Marcus and new dining options, including Freds at Barneys. The plan also calls for a new plaza at the shopping center’s main entrance along Collins Avenue. (Click here to view an animated video showcasing the improvements to Bal Harbour Shops.) Whitman Family Development aims to begin the early stages of the enhancement later this year, with major construction taking place in phases over the following five to six years in order to minimize the impact of construction on the surrounding area and the shopping center. “We’re thrilled to be making this major investment in the future of Bal Harbour Shops, which …

May 18, 2017

New York Northeast Restaurant Retail

Eastern Consolidated Arranges Lease for Viand Cafe in NYC

by Haisten Willis May 17, 2017

NEW YORK CITY — Eastern Consolidated has arranged a lease for Viand Cafe at 517 Columbus Ave. in Manhattan. The restaurant has operated a location in the Hotel Beacon at 2130 Broadway for more than 15 years. The restaurant is taking a 1,856-square-foot space at the corner of 85th Street and Columbus Avenue previously occupied by Jackson Hole restaurant, which closed last year. Eastern Consolidated’s Ben Biberaj and Harris Bulow represented Viand Café in negotiating a 15-year lease for the retail space, which includes 70 feet of frontage and a 490-square-foot basement. Rafe Evans and Eric Fisher of Walker Malloy & Co. represented the landlord, Shared Equities LLC.

May 17, 2017

California Restaurant Retail Western

Cheesecake Factory CFO to Retire

by Nellie Day May 16, 2017

CALABASAS HILLS, CALIF. — The Cheesecake Factory Inc.’s executive vice president and chief financial officer, W. Douglas Benn, will retire from the company on July 7. He will be succeeded by Matthew Clark, who brings over 11 years of experience with the company, most recently serving as senior vice president, finance and strategy. In his current role, Clark has overseen the strategy, planning, treasury and risk management functions at The Cheesecake Factory. He also supported investor relations as well as corporate governance during his tenure, and most recently led the company’s minority investment in two external, high-growth restaurant brands. Earlier in his career, he held a number of finance positions of increasing responsibility at Groupe Danone, Kinko’s and The Walt Disney Company. Benn is a veteran of the restaurant industry having spent more than 25 years in management roles with restaurant companies. He joined The Cheesecake Factory as CFO in 2009 and helped grow the company to over $2 billion in annual revenues while adjusted earnings per share more than tripled. Benn also contributed to the achievement of several milestones, including the company’s international expansion. Prior to joining The Cheesecake Factory, he served as executive vice president and CFO of …

May 16, 2017

Midwest Missouri Restaurant Retail

Freddy’s Frozen Custard & Steakburgers Opens 3,625 SF Restaurant in Raytown, Missouri

by Jeff Shaw May 15, 2017

RAYTOWN, MO. — Freddy’s Frozen Custard & Steakburgers has opened a new, 3,625-square-foot location at 10019 E. 350 Highway in Rayotwn, a southeastern suburb of Kansas City. The new restaurant will be part of Block & Co. Inc.’s Raytown 350 Development, which includes an IHOP and is located across from a Walmart Super Center.

May 15, 2017

Restaurant Retail Texas

Ascension Coffee to Open New Location at Thanksgiving Tower in Downtown Dallas

by Taylor Williams May 15, 2017

DALLAS — Ascension Coffee, a Texas-based coffee shop, café and wine bar, will open its third location in Dallas within Thanksgiving Tower, a 50-story tower located at 1601 Elm St. Amy MacLaren of CBRE represented the landlord, Woods Capital Management, in the lease negotiations. Jack Gosnell and Elizabeth Herman of CBRE represented the tenant.

May 15, 2017

Loans Mixed-Use Multifamily New Jersey Northeast Restaurant Retail

Cronheim Mortgage Arranges $10.9M Financing for Mixed-Use Properties in New Jersey

by Haisten Willis May 15, 2017

BASKING RIDGE and WARREN, N.J. — Cronheim Mortgage has arranged $10.9 million in financing for two mixed-use properties in Basking Ridge and Warren. The loans were placed with State Life Insurance Co. and Southern Farm Bureau Life Insurance Co., which Cronheim represents as a correspondent and servicing agent. Riverwalk Village, located in Basking Ridge, received $8.5 million in financing. The 18-year loan is self-liquidating with a 3.8 percent interest rate. Tenants at the 47,604-square-foot property include Starbucks, Supercuts and Gymboree. Second-floor office space is leased to YMCA, a chiropractor and an orthodontist. Gateway East in Warren was refinanced for $2.4 million at a 3.8 percent interest rate. The property includes a pair of freestanding, two-story buildings with first-floor retail and office space on the second floor. Tenants include Subway, Great Clips, a pilates studio, law offices and a dentist. The property is located at a signalized intersection and features surface parking for 89 vehicles. Cronheim’s Andrew Stewart, Dev Morris and Allison Villamagna originated and placed the loans.

May 15, 2017

Mixed-Use New Jersey Northeast Office Restaurant Retail

Edison Properties Begins Redevelopment of Ironside Newark in New Jersey

by Haisten Willis May 11, 2017

NEWARK, N.J. — Edison Properties has begun construction at Ironside Newark, a mixed-use building in downtown Newark. Located at the corner of Edison Place and McCarter Highway (Route 21), Ironside Newark will transform the warehouse building into a commercial and retail destination. Designed by New York City-based Perkins Eastman, the project will include 456,000 square feet of offices across its six upper floors, with access to a rooftop featuring green space and views of Newark and Manhattan. Two floors of retail and restaurant space will front the newly announced Mulberry Commons Park, providing a link between Ironside Newark and Newark Penn Station, Prudential Center arena and downtown Newark. Hollister Construction Services will serve as the sole construction manager on the project. Construction on the building is expected to last 18 months, with opening tentatively scheduled for fall 2018.

May 11, 2017

New Jersey Northeast Restaurant Retail

Anchor Tenants Announced at The Shoppes at Middletown in Middletown, N.J.

by Haisten Willis May 11, 2017

MIDDLETOWN, N.J. — National Realty & Development Corp. (NRDC) has signed the first anchor tenants at The Shoppes at Middletown, a retail development in Middletown. A 130,000-square-foot Wegmans Food Markets store and a 26,530-square-foot, six-screen CMX, The VIP Cinema Experience will join the 340,000-square-foot development. When complete, The Shoppes at Middletown will include national, regional and local retailers and restaurants. The project is located on Route 35 at its intersection with Kings Highway East in eastern Monmouth County.

May 11, 2017

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