GRAPEVINE, TEXAS — Irving-based Realty Capital Management LLC has leased 2,250 square feet of restaurant space to Brooklyn Crust & Bistro in Mustang Square, which is located on Highway 26 at Mustang Drive in Grapevine. The restaurant is the newest endeavor of Chef Sage Sakiri, known for his cuisine at Café Panache and Red Sage Bistro. Brooklyn Crust & Bistro will be a casual dining experience featuring New York-style pizza, as well as other dishes by Chef Sage. Mark Boone of Realty Capital Management represented the landlord and tenant in this transaction.
CHICAGO — STREAM Capital Partners, a sale-leaseback advisory group based in Chicago, has brokered the $23.3 million sale-leaseback of 18 KFC restaurants in Alabama. The locations are all under long-term triple-net leases to a KFC franchisee. Adam English, Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners advised the undisclosed seller in the transaction. The buyer was a public REIT.
ANN ARBOR, MICH. — Colliers International Ann Arbor has arranged the sale of a 19,020-square-foot retail building located at 3601 Plymouth Road in Ann Arbor. Green Road Retail LLC purchased the property for an undisclosed sales price. The building will be redeveloped and house Plum Market’s second Ann Arbor location. Plans include the addition of an outdoor café and a Zingerman’s coffee bar. The proposed 25,484-square-foot store is expected to bring 125 jobs to the Ann Arbor market. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented the seller, Cleary College, in the transaction.
SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.7 million loan to refinance an Applebee’s property in Southfield. The 5,430-square-foot building is a new construction. Dave Dismondy of Bernard Financial Group arranged the loan for the borrower, Kinaia-Ko LLC, through a life insurance company.
RICHARDSON, TEXAS — Tom+Chee will join KDC’s 186-acre CityLine mixed-use development in Richardson. The restaurant is famous for its grilled cheese donut and is expected to open in May 2015. CityLine will be the first Texas location of Tom+Chee. Corey Ward and Trew Quackenbush founded the restaurant with the aim of becoming the quintessential grilled cheese and tomato soup shop. The 2,400-square-foot location will be located across from Aloft Hotel and will open in May 2015.
CHICAGO — The Boulder Group has arranged the $7.1 million sale of a Gino’s East restaurant property in Chicago. The asset is located at 500 N. LaSalle St. in Chicago’s River North neighborhood. The three-story, 17,400-square-foot building is constructed of brick, wood and masonry. Gino’s East recently invested $1 million for tenant improvements to the building. The property is a relocation of the restaurant’s former flagship location in the area. There are nine years remaining on the Gino’s East lease, which expires in July 2023. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, Frontline Real Estate Partners. Matthew Berres of JLL represented the buyer, an affiliate of a Midwest-based real estate investment fund.
OAKBROOK TERRACE, ILL. — Marcus & Millichap has arranged the $2.2 million sale of a 2,650-square-foot, net-leased property occupied by Starbucks in Arlington Heights, a northwest suburb of Chicago. The property is located at 1808 S. Arlington Heights Road. The building includes a drive-thru. The location is a retrofit of an existing building that includes a new 10-year corporate lease with Starbucks Corp. Austin Weisenbeck, Aaron Baum and Sean Sharko of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a local developer.
ROCHESTER, MINN. — Marcus & Millichap has brokered the $795,000 sale of O’Reilly Auto Parts, a 5,600-square foot net-leased property located in Rochester. The property is located at 2610 Broadway Ave. N. Adam Prins, Matthew Hazelton and Mike Marzinske of Marcus & Millichap’s Minneapolis office represented the seller, a limited liability company.
ROYAL OAK, MICH. — Colliers International has arranged the lease of a 6,000-square-foot building in Royal Oak. Crispelli’s Bakery and Pizzeria is leasing the space, which is located at 931 N. Main St. The company plans to use the former veterinary hospital as a French bakery and commissary. Renovations have begun and the restaurant plans to open in March 2015. Kent Butler of Colliers International represented the landlord, Royal Oak Enterprises LLC.
AUSTIN, TEXAS — ATCO Properties & Management has acquired 1300 Guadalupe St. in downtown Austin, and has sold the Crossroads Center for an undisclosed amount. The property at 1300 Guadalupe is a fully occupied, 45,000-square-foot commercial office building located two blocks west of the Texas State Capitol. The property includes tenants such as projekt 202, Snow Software, Noack Little Architecture and Honeywell International Inc. ATCO has also closed on the sale of the 100,000-square-foot Crossroads Center. Steve Durhman of Durhman and Bassett represented the buyer, Jay Kaplan. The property is 96 percent occupied by tenants including Chili’s, West Marine, Pluckers Wing Bar, Make It Sweet, Subway and Cycle Gear.