Restaurant

True Food Kitchen Signs Lease at Seaholm Residences in Austin

by Haisten Willis October 9, 2014

AUSTIN — True Food Kitchen restaurant has signed a 7,000-square-foot lease on the ground floor of the Seaholm Residences, a 30-story condo residential tower under construction as part of the Seaholm Power Plant development in Austin. The project developers include CIM Group and Seaholm Power LLC. True Food Kitchen is a restaurant developed through a partnership between Fox Restaurant Concepts and Dr. Andrew Weil, an author on holistic health. Its lead chef is Arik Markus and the restaurant is expected to open in 2015. The Seaholm Power Plant project is the redevelopment of a 1950s power plant. When finished, the project will include 11,000 square feet of restaurant space and 3,500 square feet of public space. Construction began in April 2013 and is expected to be complete in the second quarter of 2015. The project is located on the southwestern edge of downtown Austin, bounded by Cesar Chavez Street, West Avenue, 3rd Street, Seaholm Drive and the A&NW rail line.

October 9, 2014

California Restaurant Retail Western

Fogo de Chao Leases Space in Downtown LA

by Nellie Day October 9, 2014

LOS ANGELES — Fogo de Chao has signed a 15-year lease for 7,414 square feet in Downtown Los Angeles. The Brazilian steakhouse will be located at 800 S. Figueroa Street in the city’s Financial District. It will be situated across the street from the FIGat7th open-air shopping mall. The lease is valued at $6.2 million. The space was previously occupied by Roy’s Hawaiian Fusion. It is currently undergoing tenant improvements. Fogo de Chao is hoping to open in the fourth quarter of this year, in time for the holiday season. The restaurant was represented by Sierra Commercial Real Estate. The landlord, 800 Fig Verona Corp., was represented by Derrick Moore of Avison Young.

October 9, 2014

Nevada Restaurant Retail Western

Krispy Kreme in Las Vegas Sells for $3M

by Nellie Day October 8, 2014

LAS VEGAS – A 4,320-square-foot building in Las Vegas that is leased to Krispy Kreme donuts has sold to Richmond-Southpoint 10 LLC for $3 million. The building is located at 9791 S. Eastern Ave. The LLC was represented by Jeff Berg and Mica Berg of Sun Commercial Real Estate. The seller, BSWC Properties LLC, was represented by Cathy Jones, Paul Miachika, Jessica Cegavske, Roy Fritz and Cash Jordan of the same firm.

October 8, 2014

Restaurant Retail Texas

New VERTSKEBAP Fast Casual Restaurants to Open in Dallas, Austin

by Haisten Willis October 7, 2014

DALLAS AND AUSTIN — Four new locations of the Austin-based fast casual restaurant VERTSKEBAP, including three in the Dallas area and one in Austin, are set to open by the end of the year. The new locations will be at 5100 Beltline Road in Addison, 859 State Highway 21 in Lewisville, the corner of Highway 75 and Walnut Hill Road in Dallas and in the South Shore District in Austin. The new stores will bring VERTSKEBAP’s storefront count to 20. Earlier this year, the company opened three new locations in Austin and six in Houston. VERTSKEBAP plans to continue expansions in Dallas, Houston and San Antonio in 2015. The restaurants are built around Doner Kebap, a popular street food in Germany.

October 7, 2014

Michigan Midwest Restaurant Retail

Gerdom Realty Arranges Lease for Mexican Restaurant in Ann Arbor

by Danielle Everson October 7, 2014

ANN ARBOR, MICH. — Gerdom Realty & Investment has arranged the lease of a 2,600-square-foot space in Ann Arbor. Coralville, Iowa-based Pancheros Mexican Grill will occupy space within Pittsfield Place, a new shopping center located at Ann Arbor-Saline Road. Versa Cos. developed the property. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented Pancheros in the transaction. This will be the second Pancheros in Ann Arbor. The new location is expected to open in the first quarter of 2015.

October 7, 2014

Features Restaurant Retail

Net-Leased Properties Expected to Remain Attractive to Investors

by Haisten Willis October 3, 2014

According to new reports published by The Boulder Group and Marcus & Millichap, net-leased properties remain attractive to investors, keeping cap rate at very low levels. Cap rates in the third quarter of 2014 for the single tenant net-leased retail sector remained at their historic low rate of 6.5 percent from the second quarter. Cap rates for the office sector compressed by 37 basis points to 7.4 percent, while cap rates in the industrial sector rose by three basis points to 8 percent. There were no major factors contributing to the leveling of retail cap rates as supply and demand remained near levels from the previous quarter. During the third quarter, the Ten-Year Treasury Yield fell to its lowest point of the year (2.55) in late August. But by the end of the quarter, treasury rates rose and ended at levels similar to the end of the second quarter. With little movement in the capital markets, retail cap rates have flattened as buyers cannot meet acceptable return thresholds at lower cap rates because of the low interest rate environment. During the third quarter, the supply of office and industrial properties increased significantly by 30 percent and 21 percent, respectively. According …

October 3, 2014

Restaurant Retail Texas

Venture Arranges Sale of Land in Trio of North Texas Cities

by Haisten Willis October 3, 2014

ROANOKE, LITTLE ELM AND ROCKWALL, TEXAS — Venture Commercial has arranged land transactions in the north Texas cities of Roanoke, Little Elm and Rockwall. Venture’s land division represented developer MQ Development Partners in the sale of a 2.2-acre pad site at the Roanoke Gateway development, located on the northwest corner of State Highways 170 and 114 in Roanoke. Ken Reimer, Edward Bogel and David Davidson of Venture Commercial represented MQ Development in the transaction. Kyle Anz of HGA Holdings represented the buyer, which will develop the site for an On the Border Mexican Grill & Cantina. Venture also arranged the sale of two pad sites in Little Elm. Clay Mote and Davidson, of Venture, represented the seller, Providence/380 Partners Ltd. in both transactions. The sites will be developed into an automotive business and an emergency care clinic. In the third transaction, Venture arranged the sale of a three-acre tract of land in Rockwall. Mote represented the seller in the transaction. Gary Halbrooks of Venue Properties Inc. represented the buyer, Fenton Motors, which will develop the property into an automotive dealership.

October 3, 2014

Arizona Restaurant Retail Western

Popeyes Louisiana Kitchen to Open New Tempe Location

by Jaime Lackey October 2, 2014

TEMPE, ARIZ. — Popeyes Louisiana Kitchen will open a new 23,000-square-foot location at Elliot Plaza in Tempe. The new space will be located at the southwest corner of Elliot Road and Priest Drive. Popeyes’ second Tempe location is scheduled to open by the end of this year. The chain was represented by Velocity Retail Group. The landlord, TPP JV Maricopa LLC, was represented by Cliff Johnston, John Appelbe, Brad Douglass and Chris Hollenbeck of Cassidy Turley. Popeyes was founded in New Orleans in 1972. It is the world’s second largest quick-service chicken concept.

October 2, 2014

Restaurant Texas

M&M ARRANGES SALE OF RESTAURANT IN METRO DALLAS

by admin September 25, 2014

SOUTHLAKE, TEXAS — Marcus & Millichap has arranged the sale of Kirby’s Steakhouse, a 7,900-square-foot net-leased property in Southlake. The property is located at 3305 E. State Highway 114 in Southlake, just south of East Southlake Boulevard. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Vitorino also procured the buyer, a local private investor. The transaction resulted in the investor leasing the property back to the seller and a new 20-year net lease was executed at the close of escrow.

September 25, 2014

Restaurant Texas

BAKER KATZ NEGOTIATES LEASE OF FIVE RESTAURANTS IN METRO HOUSTON

by admin September 17, 2014

HOUSTON — Houston-based Baker Katz has negotiated 9,000 square feet of leases for Nothing Bundt Cakes in the Houston area. Lunden McGill of Baker Katz negotiated the leasing of the five locations with a number of different brokers. Each location is about 1,800 square feet. Nothing Bundt Cakes is known for its desserts, with locations throughout the country.

September 17, 2014

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