Restaurant

Newk’s Eatery Signs 10-Unit Development Agreement in Virginia

by John Nelson August 12, 2016

JACKSON, MISS. — Newk’s Eatery, a fast-casual restaurant chain based in Jackson, has signed a 10-unit development agreement in Virginia with Red Alpha Holding LLC, a long-time Five Guys Burgers & Fries multi-unit operator. The northern Virginia-based operator will open 10 locations in Fairfax and Arlington counties over the next six years. Red Alpha will open the first location next year, marking the chain’s entry into Virginia. Now in its 12th year of business, Newk’s Eatery serves made-from-scratch sandwiches, salads, soups and pizzas. Red Alpha Holding is the third multi-unit franchisee to sign with Newk’s Eatery in 2016. Combined, the new franchisees will open more than 30 new restaurants in the next four years, consistent with the company’s goal to reach 200 units by 2019.

August 12, 2016

Mixed-Use Office Restaurant Retail Texas

SHOP Cos. Brokers $23.7M Sale of Mixed-Use Development in Richardson

by Haisten Willis August 8, 2016

RICHARDSON, TEXAS — SHOP Cos. has brokered the $23.7 million sale of Eastside, a 67,071-square-foot mixed-use retail and office property in Richardson. Eastside is located at the intersection of Campbell Road and U.S. 75. The property was 93.9 percent leased at the time of sale to tenants including 7-Eleven, Panera Bread, Scottrade, T-Mobile, Jersey Mike’s, Frost National Bank and Sport Clips. Tommy Tucker and Tim Axilrod of SHOP Cos. represented the seller, SG Retail Development Partners, a Dallas-based limited partnership, and procured the buyer, Retail Properties of America Inc., an Illinois-based corporation.

August 8, 2016

Loans New York Northeast Office Restaurant Retail

Equicap Arranges $7.5M Loan for Restaurant/Office Building in Union Square

by Amy Works August 8, 2016

NEW YORK CITY — Equicap has secured a $7.5 million permanent loan for a six-story commercial property located in the Union Square section of New York City. Daniel Hilpert arranged the five-year refinancing loan for the undisclosed borrower. The property is occupied by a restaurant chain and various office tenants.

August 8, 2016

Multifamily New Jersey Northeast Restaurant Retail

Woodmont Properties Opens First Phase of Transit-Oriented Apartment Community in New Jersey

by Amy Works August 5, 2016

METUCHEN, N.J. — Woodmont Properties has opened the first phase of Woodmont Metro at Metuchen Station, a transit-oriented apartment community located in downtown Metuchen at the New Jersey Transit Metuchen Train Station. The recently opened phase includes Pearl Street parking garage, a six-level, 796-space parking garage for residents, commuters and shoppers. Managed by Nexus Parking Systems, the parking deck will feature 24-hour on-site service representatives, covered parking, self-service kiosks, daily and monthly rates, vehicle charging stations and portable battery jumper service, as well as handicapped parking and elevators on every level. Slated for completion by the end of 2017, the development will feature 273 residential apartments, an open-space piazza and 11,500 square feet of shops and restaurants.

August 5, 2016

Restaurant Retail Texas

Kamel Salomon to Develop $12M Harbor Entertainment Project in Rio Grande Valley

by Haisten Willis August 5, 2016

MERCEDES, TEXAS — Kamel Salomon Investments Ltd., a McAllen-based development company, has announced plans to develop The Harbor in Mercedes. The $12 million project will be located one mile from Rio Grande Valley premium outlets, which receive over 6 million visitors per year, and will feature a beautiful man-made lake. BigShots Golf, a golf entertainment center with an attached restaurant and bar, will anchor the entertainment complex. Other entertainment concepts planned for The Harbor include a go-kart racing track, zip line over the lake, trampoline park and casual dining concepts. The Harbor will be developed in two phases. Phase I will consist of BigShots Golf and the central lake, and is expected to break ground in September. Final completion of Phase I is scheduled for fall 2017. Phase II of The Harbor will consist of the go-kart race track, zip line system and the other dining and entertainment concepts. Final completion of the project is expected for summer 2018.

August 5, 2016

Restaurant Retail Texas

SVN | Asset Advisory Group Negotiates $2.4M Sale of Net Leased Property in Temple

by Haisten Willis August 5, 2016

TEMPLE, TEXAS — SVN | Asset Advisory Group has negotiated the $2.4 million sale of a single-tenant net-leased property located at 7036 W. Adams Ave. in Temple. The property is 100 percent occupied by a Freddy’s Frozen Custard & Steakburgers fast casual restaurant. The 3,550-square-foot restaurant features a drive-thru. Chris Rink of SVN | Asset Advisory Group represented the California-based buyer, Boulevard Plaza San Diego LLC. John Andreini of Capital Pacific represented the seller, AL Marco Properties LLC of Kansas.

August 5, 2016

Restaurant Retail Texas

Four Corners Property Trust Acquires Building Net Leased to Wendy’s in Odessa for $2.1M

by Haisten Willis August 3, 2016

ODESSA, TEXAS — Four Corners Property Trust (FCPT) has acquired a building triple net leased to Wendy’s restaurant in Odessa for $2.1 million. FCPT funded the acquisition with cash on hand. Wendy’s occupies the restaurant under a triple-net lease with 10 years remaining on the term. The transaction closed at a going-in cap rate of 6.5 percent, exclusive of transaction costs.

August 3, 2016

Mixed-Use Multifamily New York Northeast Office Restaurant Retail

Allianz Real Estate to Acquire $420M Stake in Manhattan’s 10 Hudson Yards Tower

by Amy Works August 2, 2016

NEW YORK CITY — Allianz Real Estate has acquired a 44 percent stake — an investment of approximately $420 million — in 10 Hudson Yards, located on Manhattan’s west side. The tower is the first building completed in Related Cos. and Oxford Properties Group’s mixed-use Hudson Yards development. A limited partnership that includes Allianz, Related Cos., Oxford and institutional investors advised by J.P. Morgan Asset Management now own the property. 10 Hudson Yards is 94 percent leased to a variety of tenants, including Coach, L’Oreal USA, SAP and Boston Consulting Group. The planned mixed-use development will feature more than 17 million square feet of commercial and residential space, with more than 100 shops, a collection of restaurants, approximately 4,000 residences, cultural space, 14 acres of public open space and a 750-seat public school. Paul Meyer of Mayer Brown provided legal counsel to Allianz on the transaction.

August 2, 2016

Hospitality Loans Mixed-Use Multifamily New York Northeast Office Restaurant Retail

Related, Oxford Complete $2B Capitalization of 35 Hudson Yards in NYC

by Amy Works July 29, 2016

NEW YORK CITY — Related Companies and Oxford Properties Group have announced the $2 billion full capitalization of 35 Hudson Yards, the 1.1 million-square-foot tower on the corner of 33rd Street and 11th Avenue in New York City. The tower’s full capitalization includes $1.2 billion in debt financing led by the Children’s Investment Fund. Set to open in 2019, 35 Hudson Yards will contain an Equinox-branded luxury hotel with 200 rooms and a 60,000-square-foot Equinox fitness club and spa, as well as office, residential and retail spaces. The property is being designed by David Childs and Skidmore Owings & Merrill.

July 29, 2016

Restaurant Retail Texas

Flaming Grill & Supreme Buffet to Open in Metro Houston

by Haisten Willis July 20, 2016

JACINTO CITY, TEXAS — Flaming Grill & Supreme Buffet has leased the remaining space in the 217,004-square-foot Market at Hunting Bayou as its first location in metro Houston. The restaurant chain is planning to invest $2 million into the interior of a 21,164-square-foot space in the retail center, located at 11900 E. Freeway in Jacinto City. Construction on the junior anchor space is expected to take five months. The chain has restaurants in New Jersey, New York, Pennsylvania and South Carolina. The daily menu features more than 250 items of American, Italian, Japanese and Mexican dishes alongside traditional Chinese cuisine. Flaming Grill’s lease will bring Market at Hunting Bayou to 100 percent occupancy. Brad Elmore of Houston-based NewQuest Properties represented the landlord, JBL Asset Management of Miami, in the transaction. Drew Huggins of Huggins Realty Group represented the restaurateur, which also has a location in Dallas.

July 20, 2016

Newer Posts

Older Posts