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.
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.
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.
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.
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.
NEW YORK CITY — Several new restaurants have been announced at Hudson Yards on the west side of Manhattan. Opening in late 2018, restaurants at the site will include Chef Thomas Keller’s American restaurant, a new concept from David Chang’s Momofuku, Chef Costas Spiliadis’ Greek seafood restaurant Estiatorio Milos, a brasserie concept from D&D London and an American Grill concept from Chef Michael Lomonaco. In partnership with Related Cos. and Oxford Properties Group, José Andrés’ ThinkFoodGroup will also debut a new Spanish concept.
JERSEY CITY, N.J. — Lutze Biergarten, a 23,000-square-foot outdoor beer garden, has opened along the Hudson River waterfront in Jersey City. The property is adjacent to Harborside, a mixed-use asset. Mack-Cali Realty Corp. owns both properties. Lutze features three seating areas and a selection of craft beers, cider, wine and sangria, as well as food from Jake’s Downtown and Bacon Me Crazy.
GRAPEVINE, TEXAS — Salt Lick BBQ will open a new location in the Dallas-Fort Worth metro of Grapevine in 2018. The new restaurant, which is situated on a 10-acre tract, will feature 10,000 square feet of indoor and outdoor dining space, as well as a specialty wine and beer bar. A general contractor has not yet been assigned to the project, construction of which is scheduled to begin this fall.
SAYVILLE, N.Y. — Breslin Realty has brokered a long-term lease with Chipotle Mexican Grill at Sayville Plaza in Sayville. Chipotle will occupy 2,300 square feet of newly constructed space in a shopping center located at the northwest corner of Sunrise Highway and Johnson Avenue. Other tenants at Sayville Plaza include Kmart, Bed Bath & Beyond, OfficeMax, Babies R Us, Modell’s Sporting Goods, Old Navy, Pier 1 Imports, The Vitamin Shoppe, Chase Bank, Sprint and Panera Bread. Breslin’s Robert Delavale negotiated the transaction on behalf of the landlord.
INDIANA, MICHIGAN AND OHIO — Four Corners Property Trust (NYSE: FCPT) has acquired 16 properties occupied by Bob Evans Restaurants as part of a $35.1 million sale-leaseback transaction. The transaction was completed simultaneously with Golden Gate Capital’s acquisition of Bob Evans Restaurants from Bob Evans Farms Inc. In the Midwest, the properties are located in Indiana, Michigan and Ohio. The other properties within the portfolio are located in Delaware, Maryland, New York, Pennsylvania, Virginia and West Virginia. The properties are occupied under a single triple-net master lease with a 20-year initial term.