ARLINGTON — Marcus & Millichap has completed the sale of a Burger King located in Arlington. The 4,297-square-foot, freestanding building is situated at 3500 Matlock Road. Burger King currently has 7 years remaining on its 20-year absolute net-lease, with two 5-year options. Philip Levy of Marcus & Millichap's Fort Worth office and Jason Vitorino of the firm's Dallas office represented the seller, a limited liability company, and the buyer, a private investor.
MILWAUKEE — Panda Express has signed a lease to open its first free-standing restaurant location in Milwaukee. Located at 1210 Miller Park Way, the 3,035-square-foot restaurant is expected to open in December. John Kardelis of CB Richard Ellis' Milwaukee office represented the tenant. Terms of the lease were not released.
THE WOODLANDS — A 1,400-square-foot Subway restaurant has opened at Windvale Shopping Center at College Park Drive and FM 1488 Road in The Woodlands. Centro Properties Group owns the shopping center and was represented by its own Crystal Childs in the lease transaction.
SCHAUMBURG, ILL. — AJK LLC has purchased a retail property at 680 Mall Drive in Schaumburg for $1.15 million. The buyer plans to open a to-be-named American cuisine restaurant at the 7,200-square-foot property. Dan Steinberg of Titan Commercial represented the buyer; Cushman & Wakefield represented the seller, Darden Restaurants, in the transaction. The property was previously a Smokey Bones Bar and Fire Grill location.
AURORA, ILL. — Chick-fil-A, an Atlanta-based chain restaurant, is opening three restaurant locations in the Chicagoland area by the end of the year. The first of the new locations opened in mid-September and is located at 4435 Fox Valley Center Drive in Aurora. The company plans to open a location in Orland Park, Illinois, in October and a location in Wheaton, Illinois, in November. The new Chicagoland locations are part of the 78 new locations that the company plans to open this year. Additionally, Chick-fil-A plans to expand its Midwest presence with a planned 2011 expansion in St. Louis.
DALLAS — Austin-based Chuy's, a Tex-Mex concept created in 1982, has opened its fourth location in the Dallas-Ft. Worth Metroplex. Located at 3908 Dallas Pkwy. along the Dallas North Tollway, Chuy's chose the location due to the daytime corporate population in opening its fourth Metroplex location. This is the 20th Chuy's opening and the restaurant is looking to expand throughout the Southeast. Dallas-based Foremark represented Chuy's in its site location
MASSACHUSETTS — Casual Italian restaurant Buca di Beppo has announced plans to open four new locations in the Boston metropolitan area by this fall. The new restaurants will be in Dedham, Lexington, Seekonk and Shrewbury. It is expected that the four restaurants will add more than 275 jobs to the state. Buca di Beppo is owned by Planet Hollywood International.
APPLE VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has represented the seller in the $2.275 million sale of the fee-simple ownership in the land leased to Red Robin Restaurant located at 18999 Bear Valley Road in Apple Valley. Through a NNN lease, Red Robin occupies the single-tenant, 5,532-square-foot pad building built in 2009 within the Jess Ranch Marketplace Phase III, a power center featuring Best Buy, Bed Bath & Beyond, Cinemark, 24 Hour Fitness and Jack in the Box. Hanley Investment Group’s Edward Hanley and William Asher represented the seller, Houston, Texas-based WRI Alliance Riley Venture III, in the all-cash transaction, and James Kwon of Coldwell Banker Best Realty represented the Corona, Calif.-based private-investor buyer.
NORTH CONWAY, N.H. — Marcus & Millichap has completed the sale of an Applebee's in North Conway for $2.18 million. The restaurant has more than 18 years remaining on its current lease with four 5-year options. It is located at 24 Settlers Green Dr. Robert Horvath and Todd Tremblay of Marcus & Millichap's Boston office procured the buyer, Salinger LLC. The seller was New York City-based DBAPPLEF LLC.
SAN DIEGO — The P & J Hennessey Irrevocable Trust has acquired a 4,500-square-foot restaurant building, located at 7811 Herschel Ave. in the La Jolla submarket of San Diego, for $1.375 million. Michael Spilky of Location Matters Restaurant & Retail Brokerage represented both the buyer and the seller, Buonsante Family Trust, in the transaction. For the past 24 years, BFT has operated the Santé Restaurant at the property, which will be completely renovated to house Hennessey’s Tavern’s 11th location and fourth in San Diego County.