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Westside Ironworks Midtown Atlanta
GeorgiaRestaurantRetailSoutheast

Westside Ironwroks in Atlanta Adds Retailer, Restaurants to Tenant Roster

by John Nelson

ATLANTA — Westside Ironworks, a 19,000-square-foot, $8.5 million retail redevelopment in Atlanta’s West Midtown neighborhood, has added three new tenants, bringing its pre-leasing to 75 percent occupancy. The new tenants include O-Ku (3,200 square feet), a Southern-style sushi restaurant; Dixon Rye (5,000 square feet), an upscale, rustic-style home furnishings retailer; and Tom+Chee (2,600 square feet), a café-style, comfort food restaurant known for its Grilled Cheese Donut. All three retailers are expected to open this fall. The Westside Ironworks redevelopment transforms the former site of Iron-Works International Inc. into a retail destination. The project is spearheaded by Westside Ironworks LLC, a partnership between Frank Buonanotte and Jeff Stein. Buonanotte is the founder and chairman emeritus of The Shopping Center Group and the founder and principal of Metro Real Estate Investment Advisors, a real estate investment fund. In 2010, Stein founded Stein Investment Group, which has invested in and is actively acquiring real estate throughout metro Atlanta and the Southeast.

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taco-bell
MidwestRestaurantRetailWisconsin

Lee & Associates Arranges Land Sale for Taco Bell in Verona, Wis.

by Danielle Everson

VERONA, WIS. — Lee & Associates has arranged a $625,000 land sale in Verona, approximately 11 miles southwest of Madison. The property is located at 671 Hometown Circle. Steve Doran and Todd Waller of Lee & Associates represented the buyer, Taco Bell of America LLC, in completing the transaction. Taco Bell plans to begin construction on a new restaurant at the location this spring and open this fall.

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Hughes-Landing
RestaurantRetailTexas

New Restaurants Sign Leases at Hughes Landing in The Woodlands

by Haisten Willis

THE WOODLANDS, TEXAS — Truluck’s and Starbucks are set to join Hughes Landing, a 66-acre mixed-use development in The Woodlands. Truluck’s will be located in restaurant row in Hughes Landing, while Starbucks will be located on the retail level of One Lakes Edge, a 390-unit multifamily development. Hughes Landing features a mixture of restaurants and retail, entertainment venues, up to 800 multifamily residences, Class A office space and a full-service Embassy Suites scheduled to open in late 2015. Truluck’s plans to begin construction on its 10,000-square-foot space this spring, and expects to complete construction this fall. The restaurant features seafood, steaks and wine. The 1,820-square-foot Starbucks location is expected to open in March and will provide coffee, teas and snacks. Rip Reynolds of The Howard Hughes Corp. represented The Woodlands in the transactions. Pete Stewart Properties Inc. represented Truluck’s. Walter Salek and Lasater Miller with The Retail Connection represented Starbucks.

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midland
RestaurantRetailTexas

M&M Arranges Sale of 3,500 SF Net-Leased Property in Midland

by Haisten Willis

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Chick-fil-A, a 3,500-square-foot net-leased property in the west Texas city of Midland. Geoff Ficke and Neal Waldman of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Alvin Mansour of the firm’s San Diego office procured the buyer, a private investor. Chick-fil-A is located at the northwest corner of Village Circle and South Garfield Street at 25 Village Circle. The property was built in 2012 and sits on more than one acre. The asset is within walking distance to Midland Memorial Hospital and is less than one mile south of Midland High School. At the time of listing, 13 years remained on the original 15-year corporately guaranteed ground lease.

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RestaurantRetailTexas

Brooklyn Crust & Bistro Opens at Mustang Square in Metro Dallas

by Haisten Willis

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.

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KFC Alabama
AlabamaRestaurantRetailSoutheast

STREAM Capital Partners Brokers $23.3M Sale-Leaseback of KFC Portfolio in Alabama

by John Nelson

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.

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MichiganMidwestRestaurantRetail

Plum Market to Open Second Location in Ann Arbor, Mich.

by Danielle Everson

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.

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LoansMichiganMidwestRestaurantRetail

Bernard Financial Group Arranges $2.7M Loan for Applebee’s Property

by Danielle Everson

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.

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cityline
RestaurantRetailTexas

Tom+Chee Restaurant to Join CityLine Mixed-Use Development in Metro Dallas

by Haisten Willis

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.

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Gino's-East
IllinoisMidwestRestaurantRetail

The Boulder Group Arranges $7.1M Sale of Gino’s East Restaurant in Chicago

by Danielle Everson

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.

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