ST. LOUIS — Three different Crushed Red Urban Bake & Chop restaurants have received approximately $1.4 million in renovations. The properties include a 3,300-square-foot facility located at 8007 Maryland Ave. in Clayton; a 3,100-square-foot building located at 140 S. Kirkwood Road in Kirkwood; and a 5,600-square-foot property located at 313. N. Euclid Ave. in St. Louis. The Clayton location, which received $500,000 for renovations, opened recently, while the other two locations are slated to open by the end of summer. St. Louis-based Hilliker Corp. assisted Crushed Reds restaurants with site location, negotiating lease terms and allowance from landlords toward renovations. Shamel Contracting completed the Clayton remodeling.
AUSTIN, TEXAS — Schlotzsky's has signed an agreement to open 170 new locations, its largest franchise initiative in more than 40 years. The company will open its stores throughout California, including Los Angeles, Riverside, Ventura and San Bernardino counties. Each location offers its signature deli sandwiches and salads, as well as Carvel ice cream and Cinnabon. The Austin-based company has more than 350 locations worldwide and plans to have around 700 locations by 2016.
AUSTIN, TEXAS — Schlotzsky's has signed an agreement to open 170 new locations, its largest franchise initiative in more than 40 years. The company will open its stores throughout California, including Los Angeles, Riverside, Ventura and San Bernardino counties. Each location offers its signature deli sandwiches and salads, as well as Carvel ice cream and Cinnabon. The Austin-based company has more than 350 locations worldwide and plans to have around 700 locations by 2016.
LAWTON, OKLA. — Marcus & Millichap has arranged the sale of a 5,515-square-foot Lone Star Steakhouse & Saloon, a net leased property located at 5374 N.W. Cache Road in Lawton. Nicholas Farris and Jason Vitorino of Marcus & Millichap’s Dallas office represented the seller, a limited liability company, and procured the buyer, a private investor. Lone Star Steakhouse & Saloon is based in Dallas and has more than 100 steakhouses in 30 states.
SAN ANTONIO — SRS Real Estate Partners has arranged the sale of a Chick-fil-A ground lease, located at 18310 Blanco Road in San Antonio. The property is located across from a Whole Foods and Super Target. Jason Middlebrook of SRS Real Estate Partners represented the seller in the transaction. The buyer was an out-of-state entity.
DALLAS — Adolphus Tower, located at 1412 Main St. in downtown Dallas, has added Freshii, a new health-casual restaurant concept, to its tenant roster. Freshii will occupy 2,600 square feet of walk-up retail space on the Akard Street side of Adolphus Tower. Construction of the restaurant will begin this month and the tentative opening date is March 1, 2013.
KATY — Ybarra Investment/Jimmy Changa's has purchased an 87,991-square-foot site at the southwest corner of Interstate 10 and Westgreen in Katy from Vista Red. Mac Ruggles of Texas/Southwest Group represented the buyer in the transaction. Eric Walker of Capital Retail Properties represented the seller.
ATLANTA — Miami-based Burger King Worldwide is refranchising 42 company-owned Burger King restaurants in metro Atlanta to GPS Hospitality. Tom Garrett, former president and chief executive officer of Arby’s Restaurant Group Inc., operates GPS Hospitality. “GPS Hospitality is singularly focused on building the Burger King brand in the Atlanta area,” says Garrett. Refranchising refers to selling off corporate-owned stores to franchisees with the capital to give those stores a boost. Burger King Worldwide will additionally remodel 29 Burger King restaurants in the Atlanta area during the next three years.
WINCHESTER, VA. — Reston, Va.-based Calkain Cos., a national net lease real estate brokerage firm, has brokered the sale of a McDonald’s ground lease in Winchester. The property is the leading pad site at Rutherford Crossing, a 400,000-square-foot shopping center featuring retail and restaurant space. Lowe’s Home Improvement and Super Target anchor Rutherford Crossing. Rick Fernandez and Betty Friant of Calkain Cos. represented the unlisted developer and seller.
WEATHERFORD, OKLA. — Marcus & Millichap has arranged the sale of a 3,418-square-foot restaurant leased to McDonald's, located at 105 N. Washington St. in Weatherford. Approximately 11 years is remaining on McDonald's 20-year lease. Vincent Knipp and Chance Hales of Marcus & Millichap's Fort Worth office represented the seller, a private investor, and the buyer, a partnership, in the transaction.