Restaurant

NAI Avant Brings Retail Portion of Mixed-Use Property in Downtown Charleston to Full Occupancy

by John Nelson March 27, 2015

CHARLESTON, S.C. — NAI Avant has secured retail tenants for all five available suites in The Grand at Midtown, a mixed-use apartment community located at the corner of Meeting and Spring streets in downtown Charleston. King of Pops, a gourmet popsicle company, and an unnamed retailer will join existing retailers Edward Jones, Bull Street Market and CHS Revolution at the property, which was formerly known as Elan Midtown. Phillipa Ward of Arthur Ravenel Commercial Realty represented King of Pops in the 615-square-foot lease transaction. Amanda Reeves of Lee & Associates represented the unnamed retailer in the 1,575-square-foot lease deal. Scott Peevy and Ruth Marie Embler of NAI Avant represented the landlord, Meeting Street Realty Co., in the lease negotiations.

March 27, 2015

Restaurant Retail Texas

Cyclone Anaya’s Mexican Kitchen, Nick’s Fish Dive & Oyster Bar to Open in The Woodlands

by Haisten Willis March 26, 2015

THE WOODLANDS, TEXAS — Cyclone Anaya’s Mexican Kitchen and Nick’s Fish Dive & Oyster Bar will open at 20 Waterway Ave. in The Woodlands. Cyclone Anaya’s Mexican Kitchen has leased 4,222 square feet for a Mexican food restaurant with an expected opening date set for the beginning of April. Nick’s Fish Dive & Oyster Bar has leased 3,568 square feet for its new restaurant. Nick’s is anticipated to open in April. The corporate offices of Cyclone Anaya represented the restaurant in the transaction, while AM Restaurant Inc. and Claudia Leonardo represented Nick’s Fish Dive & Oyster Bar. Rip Reynolds of The Howard Hughes Corp., represented The Woodlands Development Co. in both leases.

March 26, 2015

Illinois Midwest Restaurant Retail

@properties Commercial Arranges Lease for Gyu-Kaku Restaurant in Chicago

by Danielle Everson March 25, 2015

CHICAGO — Tokyo-based restaurant chain Gyu-Kaku will open its second Chicago location after signing a 10-year lease for 2,800 square feet at 1364 W. Randolph St. in the West Loop. Lee Ffrench of @properties Commercial represented Gyu-Kaku in the transaction. Elan Rasansky of RKF represented the landlord, Harrison Jones. The Japanese barbecue restaurant has more than 700 locations worldwide, including more than two-dozen in North America. In 2011, the company opened its first Chicago location at 210 E. Ohio St., just off the Magnificent Mile. Gyu Kaku’s new location is at the northeast corner of Randolph and Ada Streets, in an area of the West Loop known as Restaurant Row.

March 25, 2015

Restaurant Retail Texas

HighStreet Arranges Sale of Net Leased Asset in Houston

by Haisten Willis March 24, 2015

HOUSTON — HighStreet Net Lease Group represented a private investor in the acquisition of a single-tenant net-leased asset located at 26050 NW Freeway in Houston. Denny’s occupies the property and has multiple years remaining on a ground lease with an established multi-unit franchisee that has operated the location since its development more than 10 years ago. The 4,000-square-foot property is located in a retail corridor of northwest Houston. The immediate area is home to retailers such as Walmart, Home Depot, Lowe’s, Hobby Lobby, Target, Kroger, JC Penney and Bed Bath & Beyond. The Denny’s net leased investment property was an off-market transaction.

March 24, 2015

Georgia Restaurant Retail Southeast

Bull Realty Brokers $9.2M Sale of Metro Atlanta Retail Center

by John Nelson March 24, 2015

MARIETTA, GA. — Atlanta-based Bull Realty has brokered the $9.2 million sale of Barrett Creek Plaza, a 28,841-square-foot shopping center in Marietta, a northwest suburb of Atlanta. The property is located at 125 Ernest Barrett Parkway, roughly two miles from Kennesaw State University. Barrett Creek Plaza was 83 percent leased at the time of sale to tenants such as Axiom Staffing, Buffalo Wild Wings Grill & Bar, Chase Bank, Cheeseburger Bobby’s, Moe’s Southwest Grill and T-Mobile. PMC Fund LLC purchased the shopping center from MRK Barrett Creek LLC. John Harrison and Kermit Hairston of Bull Realty brokered the transaction.

March 24, 2015

Kentucky Restaurant Retail Southeast

Cohen Real Estate Brokers Sale of Shopping Center in Kentucky

by John Nelson March 24, 2015

CRESCENT SPRINGS, KY. — Cohen Real Estate has brokered the sale of Buttermilk Crossing, a 78,012-square-foot shopping center in Crescent Springs. The property was 94 percent leased at the time of sale to tenants such as Staples, Outback Steakhouse and Petco. Helen Putterman and Ric Kaiser of Cohen Real Estate represented the seller, a partnership based in New York, as well as the buyer, a New York-based real estate family. The family purchased the property for an undisclosed amount.

March 24, 2015

Florida Restaurant Retail Southeast

Flagler Realty & Development Breaks Ground on $21M Retail Center in Celebration

by John Nelson March 20, 2015

CELEBRATION, FLA. — West Palm Beach-based Flagler Realty & Development Inc. has broken ground on Shoppes at Celebration Place, a 43,500-square-foot shopping center in Celebration, a master-planned community near Orlando. The $21 million property will be leased to Walgreens, Chipotle Mexican Grille, Dunkin’ Donuts, Five Guys Burgers & Fries and additional retailers. Flagler expects to complete the property in the fall. Flagler Realty & Development is owned by principals Patrick Koenig, Richard Johnson Jr. and Scott Johnson. The Walt Disney Co. established Celebration in 2001 after breaking ground on the community in 1994. Celebration is a Census-designated place, or an unincorporated community.

March 20, 2015

1 N.E. 40th Street Miami Design District

Florida Restaurant Retail Southeast

RKF Brokers Three Retail Sales in Miami Totaling $86.8M

by John Nelson March 19, 2015

MIAMI — RKF has brokered three property sales in Miami’s Design District and Wynwood neighborhoods totaling $86.8 million. Brooklyn-based RedSky Capital purchased the three properties from three separate sellers. Ben Mandell, Drew Schaul and John Ellis of RKF represented RedSky in all three transactions. The assets included a two-story, 19,436-square-foot retail property located at the corner of North Miami Avenue and N.E. 40th Street in the Design District. RedSky purchased the asset from Hardor Corp. for $29.3 million. Hardor Corp. was represented internally in the transaction. The other Design District property was a three-story, 17,391-square-foot retail asset at 35 N.E. 40th St. that RedSky purchased from a limited liability company known as 35 NE 40th Street LLC for $28 million. Oak Tavern, a 140-seat bar and restaurant, currently occupies the space. Fran Clougherty of Douglas Elliman represented the seller in the transaction. Lastly, RedSky purchased Wynwood Block, an enclosed shopping center occupying a full city block at 2621 N.W. 2nd Ave. in Wynwood, for $29.5 million. Gaston Miculitzki of Brightway Properties represented the seller, Wynwood 2621 LLC, in the transaction.

March 19, 2015

New York Northeast Restaurant Retail

Sovereign Realty Group Brokers $2.6M Sale of Burger King Property

by Amy Works March 18, 2015

SMITHTOWN, N.Y. — Sovereign Realty Group has brokered the sale of a freestanding restaurant property located at 942 W. Jericho Turnpike in Smithtown. The 3,610-square-foot property sold for $2.6 million in an all-cash transaction. Burger King occupies the property under a long-term lease, which begin in late 2014. Frank Caporrino and Clem Cote of Sovereign Realty Group represented the buyer and seller, which were not disclosed.

March 18, 2015

Florida Restaurant Retail Southeast

Marcus & Millichap Brokers $3.3M Sale of Starbucks in Destin

by John Nelson March 16, 2015

DESTIN, FLA. — Marcus & Millichap has brokered the $3.3 million sale of a 2,960-square-foot Starbucks Coffee located at 10410 US Highway 98 West in Destin. Mike Marzinske, Adam Prins and Matt Hazelton of Marcus & Millichap’s Minneapolis office represented the seller, a private investor, in the transaction. Kirk Felici of the firm’s Miami office assisted in the transaction. Starbucks has seven years remaining on the lease.

March 16, 2015

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