KANSAS CITY, MO. — Ingredient is opening two new restaurant locations in the Kansas City. The first location, which opened in October, is located at in Town Pavilion at 12th & Main Street. The 5,600-square-foot restaurant occupies the former Mango Room space on the first floor of the 34-story office and retail complex. The second location, which is slated to open in mid-January 2010, will be located at 4807 Jefferson St. within the Country Club Plaza. The 5,034-square-foot property is currently under construction. Ingredient is a fast-casual restaurant serving customizable salads, brick-oven pizzas, sandwiches, wraps and fresh soups.
Restaurant
GREENWOOD VILLAGE, COLO. — Pinnacle Real Estate Advisors has represented both parties in the $2.5 million sale of a net-leased Romano’s Macaroni Grill, located at 7979 E. Arapahoe Rd. in Greenwood Village. Rob Edwards, Tom Ethington and Justin Krieger of The Pinnacle Retail Group represented the out-of-state seller Cardinal Capital, and the group’s Russ Agnew represented the local buyer Bowaut Inc.
DALLAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $9.92 million in financing for the acquisition of the Midwest Triple Net Portfolio, a restaurant portfolio comprising 18 properties located nationwide. All of the restaurants are subject to triple-net leases and a majority are backed by corporate credit. The financing package includes a $5.92 million fixed-rate mortgage and $4 million in preferred equity investment. The borrower is a partnership sponsored by Midwest Restaurant Group. The borrower purchased the portfolio from Spirit Master Funding. Scott Lynn and Sunny Sajnani of MCA arranged the financing package.
SAN CLEMENTE, CALIF. — A 1,300-square-foot The Flame Broiler restaurant recently opened at Centro Properties Group’s Ocean View Plaza, located between Camino de los Mares and Interstate 5 in San Clemente. NAI Capital’s Les Yamamoto represented The Flame Broiler, and Centro Properties Group was represented in house by Matthew Berger and Gavin Gray.
CHICAGO — Chicago-based Structured Development has signed two restaurant leases at Chicago & Northwestern Railroad Powerhouse, which is located at 211 N. Clinton St. in Chicago. Prairie Fire has inked a deal for a 6,400-square-foot restaurant. Slated to open in later this year, the 150-seat restaurant will offer moderately priced contemporary American comfort food with an emphasis on local and seasonal ingredients. New Line, a bar and grill concept from Spare Time Inc., has leased 3,000 square feet and will open in early October. Sean Lutz of Sperry Van Ness represented Prairie Fire and New Line; Jeff Bernard of REIS represented the landlord, Structured Development, in the lease transactions.
AUSTIN AND TEMPLE, TEXAS — Five Guys Burgers & Fries has signed leases to open two new restaurants in Texas. The first is a 2,851-square-foot restaurant located within The Arboretum in Austin, and the second is a 2,500-square-foot restaurant located within Bird Creek Crossing in Temple. Mike Minicucci and Robert O'Farrell of SRS Real Estate Partners represented Five Guys in lease negotiations. Five Guys currently has five locations in Central Texas. In the past year, SRS has helped the company sign leases for locations in San Antonio, Austin and Harker Heights, Texas.
ATASCADERO, CALIF. — Brandon Michaels of Marcus & Millichap represented a private investor in the purchase of a Denny’s restaurant location in Atascadero for $1.22 million. Michaels also represented the undisclosed seller in the transaction.
LAS VEGAS — Dennis Vaccaro and Matthew Mousavi of Faris Lee Investments represented the sellers, Innovative Property Partners and Visionary Partners, in the disposition of two Del Taco restaurant properties in Las Vegas. Arizona-based Jang Family Trust acquired the properties for $3.75 million or approximately $731 per square foot. The transaction includes a 2,308-square-foot Del Taco located at 5226 S. Boulder Highway, and a 2,820-square-foot Del Taco located at 4380 N. Nellis Blvd. Marcus & Millichap represented the buyer in the deal.
NEW YORK CITY — Grimaldi’s, a brick-oven pizzeria, is opening its first location in Manhattan, New York City. The new restaurant will be located at the Rockrose Development Corp.-owned 135 John Street. Construction for the new 5,500-square-foot store is slated to begin this month with an opening set for the end of the year. The space will comprise three floors, a cellar and rooftop dining. The project is being designed by architect Julio Leder-Luis of Leder-Luis Building Designs. One of the unique elements Leder-Luis will be implementing is a glass-front elevator that will go from the street to the roof-top dining area. The space is being leased for a 15-year term with a 5-year option. Winick Realty Group brokered the Manhattan deal. Grimaldi’s also plans to open another location next to 200 Water Street, a 32-story residential rental building also owned by Rockrose. Currently with locations in Brooklyn, Queens, Garden City (Long Island), Hoboken and throughout the Southwest, the Manhattan restaurant will be the 16th Grimaldi’s to open nationwide.
WOODBRIDGE, N.J. — The Shannon Rose Irish Pub has opened its doors at St. Georges Crossing in Woodbridge. The new establishment represents the second location for the authentic Irish restaurant/pub; the original eatery is located in Clifton, N.J. Levin Management Corp. is the property’s leasing and managing agent. As part of a larger renovation, Levin converted the space, a former movie theater, for multi-tenant retail use, updated the exterior and created a new landscaping plan. The restaurant’s inviting façade features bold colors and downtown Dublin charm. Located on US 1 and 9, at the intersection of heavily traveled Route 35, and long a key regional shopping destination, St. Georges Crossing is anchored by a 91,000-square-foot ShopRite supermarket. Other tenants include P.C. Richard & Son, PETsMART, Taco Bell, Bertucci's, Wine Country, Pier 1 Imports, Golf Galaxy and GameStop.