HIGHLAND VILLAGE, TEXAS — Memphis-based Poag Development Group has welcomed three new tenants to The Shops at Highland Village, an 359,781-square-foot retail property located near the North Texas city of Denton. Chinese restaurant Dragon House will open a 5,200-square-foot space next to AMC Theatres in October. Athleisure apparel provider lululemon has leased a 5,590-square-foot space next to The Cheesecake Factory, and wellness concept iCRYO has taken a 2,587-square-foot space adjacent to Boardroom Salon for Men. JLL manages Shops at Highland Village on behalf of Poag.
Marcus & Millichap Facilitates Purchase of 3,500 SF Starbucks-Occupied Retail Property in Sacramento
SACRAMENTO, CALIF. — Marcus & Millichap has arranged the acquisition of a restaurant property located at 9660 Kiefer Blvd. in Sacramento. An individual/personal trust acquired the asset from an undisclosed seller for $2.6 million. Starbucks Coffee occupies the 3,500-square-foot property on a 15-year, corporate net-lease basis. Yuri Sergunin and J.J. Taughinbaugh of Marcus & Millichap’s Palo Alto, Calif., office represented the buyer, while Cushman & Wakefield represented the seller in the deal. The transaction included a 1031 exchange for the buyer.
OMAHA, NEB. — Plum Market Travel Services has been awarded a contract to operate 10 dining, retail and Gourmet Natural Market locations at Omaha Eppley Airfield (OMA) in Nebraska. The agreement, part of OMA’s $950 million terminal expansion and modernization plan, comprises the majority of the food-and-beverage offerings. Plum Market Travel Services is a subsidiary of Plum Market, a natural food, beverage and wellness essentials retailer. The 10 locations consist of nine brands spanning various cuisines and formats. Notable brands include Runza, Panda Express and Sambazon, along with several local Omaha restaurants such as Block 16 and Fernando’s. Additionally, Plum Market will open two of its own concepts: a full-service kitchen and bar with all-natural snacks and travel essentials, and a convenient grab-and-go, quick-service format. The terminal expansion is slated to open in 2027.
By Burdette Huffman, executive vice president, Blue Ox Group Why are people drawn to spend money and time at certain places in a city? What makes someone want to do their shopping, stop for coffee or plan a date night at one spot versus another? Sometimes, it’s a special location or an emotional connection to a particular vendor. But in many instances, the draw is entirely by design. It’s an intentional, strategic urban planning tactic that’s been around for decades, and it’s called placemaking. What Is Placemaking?The concept of placemaking has been around since the 1960s thanks to urban planning pioneers and was bolstered in the 1990s by the smart growth agenda of organizations like the Urban Land Institute. In modern parlance across the state, it’s not much different. Put simply, placemaking is about creating a special place where people want to be. Placemaking is about imagining and then developing a place where parents might want to grab coffee after dropping their kids off at school. Or it’s a place where date nights happen because there’s a great new spot for dinner and maybe space to take a walk or grab a drink afterward. If it’s executed correctly, it’s the …
NEWPORT BEACH, CALIF. — California-based pizza chain Mountain Mike’s has signed three multi-unit franchise agreements to open 11 new restaurants in Texas. The deals call for five restaurants in Austin, three restaurants in metro Houston and three restaurants in the Dallas-Fort Worth (DFW) metroplex. Franchisees Rajeev Dewan, Ajay and Karina Gorde and Tim Fogarty will own and operate the units in Austin, metro Houston and DFW, respectively. Mountain Mike’s current portfolio includes four existing restaurants in the DFW area and one in greater Houston.
DALLAS — Duro Hospitality, the group behind brands such as The Charles, Mister Charles, Café Duro, Casa Duro and El Carlos Elegante, will open a new, 7,500-square-foot restaurant in the Preston Center area of North Dallas. The name and concept behind the restaurant were not disclosed, but the space is located on the ground floor of 8111 Douglas, a 225,000-square-foot office building owned by Lincoln Property Co. The restaurant opening is slated for late 2025.
KANSAS CITY, MO. — Wingstop has leased 1,600 square feet at Frolics Plaza Shopping Center in Kansas City. Jody Minder of Block & Co. Inc. Realtors represented the undisclosed landlord, while Andrew Sandburg of Lane4 Property Group represented the tenant. Construction will start immediately to devise the 3,250-square-foot space, with 1,600 square feet utilized for Wingstop and the remaining available for lease. Wingstop is expected to open in summer 2025. Frolics Plaza is home to Rainbow Chinese Restaurant, Ixtapa Fine Mexican Cuisine, Moti Mahal Indian Restaurant, ISmoke Vape Shop and Smoothie King. Block & Co. handles leasing and management of the property.
COCONUT CREEK, FLA. — Four new tenants have signed leases at Promenade at Coconut Creek, a shopping center located in Coconut Creek, approximately 15 miles north of downtown Fort Lauderdale. Fragrance store Orientica is now open at the property, within a 1,045-square-foot space. Karma Bath & Body Co. is scheduled to open a 1,868-square-foot store later this month, and My Phone Lab and Happy Monkey will occupy 1,801 and 1,000 square feet, respectively, beginning in October. Avison Young manages and leases Promenade at Coconut Creek on behalf of the owner, Charlotte-based Hill Partners Inc.
FORT WORTH, TEXAS — Cheeseburger restaurant chain Smalls Sliders has signed a new franchise deal to open six new restaurants in the Fort Worth metro area. Franchisee Brett Stewart will operate the restaurants, which are dubbed “Cans.” Locations will include Fort Worth, White Settlement, Weatherford, Granbury, Cleburne and Stephenville. The first of the new units is scheduled to open in 2025. Smalls Sliders was founded in 2019 and now has a portfolio of more than 300 restaurants currently open or under development.
FORT LAUDERDALE, FLA. — BurgerFi International (NASDAQ: BFI) has filed for voluntary Chapter 11 bankruptcy protection. The Fort Lauderdale-based company operates under two brands: BurgerFi and Anthony’s Coal Fired Pizza & Wings. The two entities have a total of 144 locations open across the United States, Puerto Rico and Saudi Arabia. The filing pertains to 67 corporately owned locations operating under both the BurgerFi and Anthony’s banners. The remaining 77 franchisee-owned locations are excluded from the filing, with the company’s total portfolio expected to remain open and continue normal operations. BurgerFi cited a drastic decline in post-pandemic consumer spending, sustained inflation and increasing food and labor costs as the key drivers in the decision to file for bankruptcy. The company joins a number of restaurants that have recently filed for bankruptcy protection, including Mediterranean fast-casual chain Roti, Italian dining chain Buca de Beppo and seafood chain Red Lobster. “We need to stabilize the business in a structured process,” says Jeremy Rosenthal, who has been named chief restructuring officer for the company. “We are confident that this process will allow us to protect and grow our brands and to continue the operational turnaround started less than 12 months ago and secure additional capital.” The company’s board …