Restaurant

Newk’s Eatery to Open 10 New Locations in Metro Houston

by Haisten Willis May 18, 2015

HOUSTON — Newk’s Eatery, a fast-casual restaurant, has reached a development agreement with New Orleans-based Southeast Restaurant Group (SRG), founded by Elie Khoury, to open 10 new Newk’s locations in metro Houston. With the agreement, SRG becomes Newk’s largest franchisee. SRG is currently a franchisee of TGI Fridays and Chevys Fresh Mex, operating restaurants in Texas, Arkansas, Mississippi, Louisiana, Alabama, Tennessee and Florida. It also operates its own concepts, including a Mediterranean-style restaurant in the Miami area, a Creole-inspired restaurant in New Orleans and The Round House Bar & Grill, located in the Holiday Inn hotels owned by its affiliate, KFK Group. Newk’s will open nearly 30 new company-owned and franchised locations during 2015, with plans to reach 200 total units by 2018.

May 18, 2015

Restaurant Retail Texas

M&M Arranges Sale of 6,165 SF Net-Leased Property in Corpus Christi

by Haisten Willis May 15, 2015

CORPUS CHRISTI, TEXAS — Marcus & Millichap has arranged the sale of Logan’s Roadhouse, a 6,165-square-foot net-leased property located in Corpus Christi. Jason Vitorino, Adam Gottschalk and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Vitorino, Gottschalk and Aubrey also procured the buyer, a local private investor. Logan’s Roadhouse is located at 5057 S. Padre Island Drive in Corpus Christi, adjacent to Highway 358. Built in 2007, the asset is a pad site to Academy Sports+ Outdoors, Walmart and Home Depot. At the time of listing, Logan’s Roadhouse had 13 years remaining of its original 20-year net lease.

May 15, 2015

Mixed-Use Restaurant Retail Texas

Good Union Urban Barbeque to Open in CityLine Mixed-Use Development

by Haisten Willis May 12, 2015

RICHARDSON, TEXAS — KDC, a real estate development and investment firm, has announced that Good Union Urban Barbeque will open its first location at CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant will serve Texas barbeque. Meat will be smoked on an indoor fire pit equipped with ventilation to accommodate the building. There will be a patio facing the central plaza where guests can enjoy craft beers and premium cocktails from the full-service bar while listening to live music in the park. The 3,903-square-foot restaurant is scheduled to open in the fall of 2015. It will be located in the base of One CityLine at 1150 State St.

May 12, 2015

New York Northeast Office Restaurant Retail

TerraCRG Brokers $26.7M Purchase of Brooklyn Development Site

by Amy Works May 12, 2015

NEW YORK CITY — TerraCRG has brokered the purchase of a development site located at 333 Johnson Ave. in Brooklyn’s Bushwick neighborhood. Normandy Real Estate Partners, Royalton Capital LLC and Sciame Development purchased the site for $26.7 million. The buyers plan to develop a commercial complex on the site with retail, restaurant and office space. Additionally, the new property will feature 40,000 square feet of outdoor space and the restaurant space will be clustered on the White Street-facing courtyard with the opportunity for rooftop dining, as well as on-site artisanal food production space. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented the buyers, while Sydney Blumstein of Corcoran represented the undisclosed seller in the transaction.

May 12, 2015

Georgia Restaurant Retail Southeast

FCA Partners Announces Development Plans for Buckhead Exchange in Atlanta

by John Nelson May 4, 2015

ATLANTA — Charlotte-based FCA Partners has announced the redevelopment plans for Buckhead Exchange, a 48,500-square-foot retail center located at Peachtree Road and Grandview Avenue in Atlanta’s Buckhead neighborhood. The plans call for the shopping center to be transformed into a pedestrian-friendly retail and dining development. A portion of the center will be demolished to make way for a paseo that will connect the east-facing storefronts with those facing Peachtree Road and Grandview Avenue. Demolition is scheduled to begin this month and be completed in phases by early 2016. New tenants slated to open at Buckhead Exchange include Storico Fresco Alimentari Ristorante e Mercato and YEAH! BURGER. Formerly a division of Faison Enterprises, FCA Partners has invested more than $600 million in equity on behalf of institutional capital since the mid-1990s. FCA Partners acquired Buckhead Exchange in 2013 from Principal Financial for $15.2 million.

May 4, 2015

1600 Commons Trader Joe's Nordstrom Rack Fort Lauderdale

Florida Restaurant Retail Southeast

Halvorsen Holdings Breaks Ground on Trader Joe’s-Anchored Center in Fort Lauderdale

by John Nelson May 1, 2015

FORT LAUDERDALE, FLA. — Halvorsen Holdings has begun construction on 1600 Commons, a shopping center anchored by Trader Joe’s and Nordstrom Rack. The in-fill development will be the first Fort Lauderdale stores for the two retailers. The 80,000-square-foot center is located along Federal Highway between Oakland Park and Sunrise Boulevard. Halvorsen Holdings purchased the existing Toys “R” Us and Office Depot on the site and begun demolition to make way for the 12,500-square-foot Trader Joe’s and a new prototype for a 15,500-square-foot Office Depot. The two-story Nordstrom Rack will span 36,000 square feet. Other committed tenants include Mattress Firm, T-Mobile, Hair Cuttery and Anthony’s Coal Fired Pizza.

May 1, 2015

Georgia Mixed-Use Restaurant Retail Southeast

Redstone Brings Retail Portion of 315 W. Ponce in Decatur to Full Occupancy

by John Nelson April 29, 2015

DECATUR, GA. — Redstone Investments has brought the retail portion of its mixed-use property in Decatur to full occupancy. The development is located at 315 W. Ponce de Leon Ave. and includes 10,000 square feet of street-level retail space, a 125,000-square-foot office building, shared parking deck and new multifamily residences. The property’s retail tenant roster includes Highland Bakery, Taziki’s and Orangetheory Fitness. The mixed-use project was jointly planned by Redstone Investments and Carter. The first phase of the residential component above the retail was completed in December 2014 and was 100 percent occupied within weeks of delivery. The final phase of the residential development will be completed this summer. Steve Wohl of Oakhurst Realty is the leasing agent for the property.

April 29, 2015

Restaurant Retail Texas

Red House Cajun Restaurant Coming to Metro Dallas

by Haisten Willis April 24, 2015

COLLEYVILLE, TEXAS — Red House Cajun Seafood Restaurant is coming to Colleyville and will be located in a 7,609-square-foot restaurant building at 5120 Highway 121. Nearby restaurants include Rio Mambo and LaHacienda Ranch. Red House will offer crab, lobster, shrimp and crawfish, as well as fish and traditional gumbo. Mark Boone of Irving-based Realty Capital Management LLC, along with Allison Cornwell, represented the landlord. Greg Blandford with Position Property Group represented the tenant.

April 24, 2015

New York Northeast Restaurant Retail

Sovereign Realty Group Brokers Sale of Burger King Property in New York

by Amy Works April 21, 2015

SMITHTOWN, N.Y. — Sovereign Realty Group has brokered the sale of a freestanding Burger King property located at 942 West Jericho Turnpike in Smithtown. Situated on 2 acres, the 3,610-square-foot property sold for $2.5 million. The property was formerly occupied by a Wendy’s and sat vacant for many years until a local Burger King franchisee signed a long-term lease for the property. Frank Caporrino and Clem Cote of Sovereign Realty Group represented the buyer and seller in the transaction. The names of buyer and seller were not released.

April 21, 2015

Ambassador Town Center Lafayette Louisiana

Louisiana Restaurant Retail Southeast

Stirling Properties, CBL & Associates Breaks Ground on 425,000 SF Shopping Center in Louisiana

by John Nelson April 17, 2015

LAFAYETTE, LA. — Stirling Properties and CBL & Associates Properties Inc. have begun construction on Ambassador Town Center, a 425,000-square-foot shopping center anchored by Costco Wholesale in Lafayette. Other committed tenants include Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread, Freddy’s Frozen Custard & Steakburgers, BJ’s Restaurant & Brewhouse, World of Beer and Blaze Pizza. The 58-acre site for the new shopping center is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. The developers plan to open the project in March 2016 and expect to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the city of Lafayette.

April 17, 2015

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