Restaurant

NewQuest Acquires Property in Frisco for Retail Development

by Haisten Willis September 12, 2016

FRISCO, TEXAS — NewQuest Properties has acquired land to develop a retail center in Frisco. Construction will begin on the development, which will be known as Frisco Ranch, in October. The 110,000-square-foot center will be situated on nine acres just northeast of the intersection of Preston Road and Warren Parkway. The site was acquired through direct negotiations between the seller, Lebanon Joint Venture, and Houston-based NewQuest Properties, which was represented by Heather Nguyen and John Nguyen. Three anchor tenants have signed on for the development. The tenants are: 99 Ranch Market, which has preleased 44,875 square feet; Daiso Japan, which has leased 10,000 square feet; and 85°C Bakery Cafe, which has leased 3,000 square feet. The same trio of retailers also anchors NewQuest’s Carrollton Town Center, a similar retail center located in Carrollton. Callaway Architecture of Dallas is the architect for Frisco Ranch, which is expected to open in summer 2017.

September 12, 2016

Restaurant Retail Texas

Snappy Salads to Open in Downtown Dallas

by Haisten Willis September 12, 2016

DALLAS — Snappy Salads, a Dallas-based salad restaurant concept, has signed a lease at 717 Harwood St. in downtown Dallas. The restaurant will open at the corner of Harwood and San Jacinto streets, where it will open its first downtown location on the ground floor of the newly renovated 717 Harwood tower.

September 12, 2016

Restaurant Retail Texas

Pierson Retail Advisors Negotiates Sale of Lewisville Village Retail Center

by Haisten Willis September 9, 2016

LEWISVILLE, TEXAS — Pierson Retail Advisors (PRA) has negotiated the sale of Lewisville Village, a 24,290-square-foot retail strip center located in Lewisville. PRA represented the seller, Prescott Interests Ltd. A local buyer purchased the asset for an undisclosed price. Constructed in 1986, Lewisville Village was 90.4 percent leased at the time of sale to tenants including State Farm, Pizza Hut, Fitzgerald’s Jewelry, American Masters Martial Arts and Charlton Motors. The entire team at Pierson Retail Advisors in Dallas handled the sale.

September 9, 2016

California Restaurant Retail Western

Burgerim Opens Second U.S. Location

by Nellie Day September 8, 2016

LOS ANGELES — Burgerim, a better-burger concept, has opened its second U.S. location in Montclair, Calif. Burgerim is set to open 33 franchised restaurants in the next year across the country, including in Memphis, Tenn.; Boca Raton, Fla.; and Houston, Texas. Burgerim currently operates in over 200 locations in 16 countries. Burgerim’s first U.S. location is at 5001 Melrose Ave., in Los Angeles.

September 8, 2016

Loans Restaurant Retail Texas

BMC Secures $1M Loan for Dunkin’ Donuts in Amarillo

by Haisten Willis September 6, 2016

AMARILLO, TEXAS — BMC Capital has secured a $1 million acquisition loan for a net-leased Dunkin’ Donuts store in Amarillo. The five-year loan includes a 25-year amortization schedule, 70 percent loan-to-value ratio and a 4.25 percent fixed interest rate. The lender and borrower were unnamed.

September 6, 2016

California Restaurant Retail Western

Texas de Brazil Opens First California Location

by Nellie Day August 30, 2016

IRVINE, CALIF. — Texas de Brazil Churrascaria, a Brazilian steakhouse chain, has opened a location in Irvine. Located in The Market Place, the new location is the company’s 49th restaurant and first in the State of California. The 7,600-square-foot restaurant accommodates 220 guests and features an open-view grill in the dining area, a wine wall, patio and a lounge area.

August 30, 2016

Michigan Midwest Restaurant Retail

Colliers Arranges 2,339 SF Restaurant Lease in Metro Detroit

by Christina Cannon August 29, 2016

SOUTHFIELD, MICH. — Colliers International has arranged a 2,339-square-foot lease for Naf Naf Grill, a Middle Eastern, fast-casual restaurant chain. Naf Naf Grill will occupy space beginning next spring in an 11,500-square-foot building which is situated on an outlot to Travelers Tower, a 810,460-square-foot office complex. The restaurant will be located at 26555 Evergreen Road in Southfield and will be the company’s third location in metro Detroit. Brian Whitfield, Lou Frango and Matthew Seeley of Colliers International represented the tenant in the transaction.

August 29, 2016

Restaurant Retail Texas

Vitorino Group Arranges Sale of El Pollo Loco Ground Lease in Fort Worth

by Haisten Willis August 29, 2016

FORT WORTH, TEXAS — The Vitorino Group has arranged the sale of an El Pollo Loco ground lease in Fort Worth. Located along I-35 in front of a Costco, the restaurant is an outparcel of Presidio Towne Crossing, a 1 million square-foot mixed-use development. A Connecticut-based institution was the seller, while a Dallas-based partnership was the buyer.

August 29, 2016

California Restaurant Retail Western

Lincoln Property Co., Alcion Ventures Announce Eight Tenants for Trade Food Hall in Irvine

by Nellie Day August 23, 2016

IRVINE, CALIF. — Lincoln Property Co. and Alcion Ventures have announced eight chef-driven tenants to open at Trade Food Hall in Irvine. Lincoln and Alcion purchased the 32,600-square-foot Trade Marketplace in 2014, and have since transformed the project’s food court into a 9,000-square-foot food hall. Tenants to open within the food hall include Chef Andrew Gruel’s Two Birds and Butterleaf; Chef Hop Phan’s Dos Chinos and Megadon; The Sandwich Society; Portside; Sweet Comforts; and Gyro King. Ootoro Sushi and KRISP Fresh Living will anchor the property, which is set to feature a mix of service-oriented and soft goods retailers. The project is scheduled to open this fall.

August 23, 2016

Illinois Midwest Restaurant Retail

Krispy Kreme to Open New Location in Chicago Suburb

by Christina Cannon August 23, 2016

HOMEWOOD, ILL. — Krispy Kreme will open a new store in Homewood, approximately 25 miles south of Chicago. The donut franchise will build a ground-up facility on an outparcel to a Home Depot and Jewel-Osco. This store, to be located at 17815 S. Halsted St., will be the first of eight locations opened in the Cook county area. Currently the Chicago area has only one Krispy Kreme store, which is situated in Elk Grove Village. The new Homewood location will be the franchise’s first retail location opened in the Chicago area in seven years. Lynne Brackett and Adam Foret of CBRE represented the landlord in the transaction.

August 23, 2016

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