AUSTIN, TEXAS — CBRE has arranged a 2,200-square-foot lease for VERTS, an Austin-based Mediterranean-style restaurant, located at 1801 E. 51st St. in Austin’s Mueller Market District. The restaurant will open in late July. John Heffington with CBRE represented the tenant. Britt Morrison with the Weitzman Group represented the landlord, Catellus. This restaurant will be VERTS seventh location in the Mueller neighborhood.
NORTH MIAMI BEACH, FLA. — Marcus & Millichap has completed the sale of North Miami Beach Ale House for $4.35 million. The 8,999-square-foot restaurant is located at 3227 NE 163rd St. North Miami Ale House has been open for 14 years and currently has 12 years remaining on a triple-net lease, which also includes two five-year options. Adam Tiktin and Michael Biama of Marcus & Millichap’s Miami office represented the seller, a private investor from Boca Raton, as well as the buyer, a private investor from Aventura.
CORAL SPRINGS, FLA. — CB Richard Ellis (CBRE) has arranged the sale of two net-leased restaurant buildings in Coral Springs. Bonefish Grill leases a 5,000-square-foot, freestanding building at 1475 University Drive. Wendy’s occupies and holds the ground lease to the adjacent 3,000-square-foot, freestanding building at 1455 University Drive. The tenants have been at these locations since 2004. David Donnellan and Todd Weintraub of CBRE’s Fort Lauderdale office represented the seller, a private REIT. The buyer was North University Properties LLC.
RALEIGH, N.C. — Tropical Smoothie Café has announced the signing of a multi-unit development deal with Raleigh entrepreneur Sherman Dye, which will bring five Tropical Smoothie Café locations to the city in the next three years. Tropical Smoothie Café operates nine cafes across North Carolina, three locations in the Raleigh-Durham market and others in Nags Head, Southern Shores, Greenville, Winston-Salem and Southport. The new Raleigh deal is part of the 341-unit brand’s nationwide growth strategy to open 40 additional locations throughout the U.S. in 2013.
DALLAS — The CBRE retail brokerage and project management team in Dallas has arranged the expansion of Seattle's Best Coffee to 10 locations throughout the Dallas/Fort Worth Metroplex. Daniel Taylor, Chris Sacks and Andrew Wiley provided market evaluation, mapping and demographic analysis, site selection and lease negotiations for the coffee retailer. Sean Goff and April Desabrais of CBRE's project management team established a cost efficient approach to construction. The 10 sites are located in Dallas, Fort Worth, Burleson, Lancaster, McKinney and Rockwall.
ARLINGTON, TEXAS — Pie Five Pizza Co. has opened its 10th corporate-owned location in the Dallas/Fort Worth area and its 11th store overall. The new Pie Five restaurant will located at 2151 N. Collins St., Suite 105 in Arlington. The restaurant is nearly 2,000 square feet and can accommodate approximately 70 patrons. Pie Five has awarded agreements for another 37 restaurants to-date in Utah, Charlotte, North Carolina, Florida and Kansas City.
TULSA, OKLA. — Marcus & Millichap has arranged the sale of a 7,164-square-foot Macaroni Grill restaurant in Tulsa. The restaurant is located at 6603 S. Memorial Drive. Jason Vitorino and Jared Aubrey of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction. Vitorino and Aubrey procured the buyer, also a limited liability company. Tim Speck of Marcus & Millichap's Dallas office assisted in closing the transaction.
FRISCO, TEXAS — Chick-fil-A Inc. has purchased a 1.3-acre retail site at the Hickory Center at Preston, a Walmart-anchored shopping center located at the southwest corner of Preston Road and Gary Burns Drive in Frisco. Ken Reimer, Amy Pjetrovic-Hunnicut and Katie Vance of Venture Commercial represented the seller, Allegiance Frisco LP, in the transaction. David Hardesty of Hardesty Realty Group represented Chick-fil-A.
BEDFORD, TEXAS — Twisted Root, a gourmet hamburger restaurant chain, plans to open a new restaurant this weekend in the 42,000-square-foot Bedford Meadows retail center in Bedford. Addison-based Legacy Alliance Holdings owns Bedford Meadows and recently engaged The Retail Connection to handle the center's leasing. Twisted Root purchased the pad site in June 2012 from Legacy Alliance for the new restaurant.
SAN ANTONIO — Ignite Restaurant Group has reopened its San Antonio River Walk Joe's Crab Shack location following a three-month renovation. The restaurant, located at 212 College St., has nearly doubled its footprint to 7,600 square feet following the renovation. The restaurant has the capacity to seat 252 guests at one time. Ignite owns and operates 130 Joe's Crab Shacks and 15 Brick House Tavern + Taps.