HOUSTON — Marcus & Millichap has brokered the sale of a 3,390-square-foot, freestanding Burger King located in Houston. The property, which was built in 1990, is situated on 1.24 acres at 7801 Highway 6 North. Ed Benton and Monte Lowery of Marcus & Millichap’s Houston office represented the seller, a limited liability company. The buyer, a California-based private investor, was represented by Stephen Sauter of Marcus & Millichap’s Palo Alto, Calif., office. The acquisition price was not disclosed.
Restaurant
HARKER HEIGHTS, AUSTIN AND SAN ANTONIO, TEXAS — Five Guys Burgers & Fries has signed leases for three new restaurants in Texas. The locations consists of a 2,605-square-foot space within Market Heights Shopping Center in Harker Heights; a 2,497-square-foot restaurant located at 3208 Guadalupe in Austin; and a 2,208-square-foot location within Quarry Village Shopping Center in San Antonio. All three restaurants are scheduled to open this summer. Mike Minicucci, Robert O’Farrell, and Todd Wallace of SRS Real Estate Partners represented Five Guys in lease negotiations. Jennifer Hargis of Reata represented the landlord of Quarry Village and Megan Kneipp of Direct Development represented the landlord of Market Heights. Terms of the leases were not disclosed.
HOUSTON AND ATASCOCITA, TEXAS — Chipotle Mexican Grill has signed leases for two new locations in metropolitan Houston. In northwest Houston, the restaurant signed a ground lease for a 15,432-square-foot location within Vintage Park Shopping Center, located at the intersection of Tomball Parkway and Louetta Road. Debbie Knox of H-E-B, also the anchor of the center, provided in-house representation for the landlord. Matt Keener, Russell Janicek and Mark Raines of CB Richard Ellis (CBRE) represented Chipotle. In Atascocita, Chipotle leased 2,261 square feet of space at the West Lake Crossing retail center. Alex Makrus and Jazz Hamilton of CBRE represented the landlord, Trammell Crow Co. Chipotle was again represented by Keener, Janicek and Raines. Terms of the leases were not disclosed.
PHILADELPHIA — Marc Mandel of Fameco Real Estate has represented Wingstop in two of its first leases in the Philadelphia area. The retailer plans to expand across the region with an initial focus in urban locations. The first restaurant recently opened and is located at the intersection of Broad Street and Cecil B. Moore on Temple University’s campus. The second unit, set to open this summer, is located on Roosevelt Boulevard at Red Lion Road in the northeast section of Philadelphia. Plans for a third restaurant are underway.
NEW JERSEY — Fameco Real Estate has represented Denver-based Chipotle Mexican Grill in its expansion efforts into New Jersey. The fast-casual Mexican restaurant recently opened three new locations in Paramus, East Hanover and Wayne. It also has two restaurants currently under construction in Eatontown and West Caldwell. Fameco originally represented Chipotle in its expansion into the Philadelphia market, and was asked to represent the restaurant in its New Jersey expansion, as well. Chipotle currently operates more than 800 restaurants nationwide.
PHOENIX — De Rito Partners has closed a 54,000-square-foot lease at Bell & 3rd Plaza, which is located on Bell Road between 3rd and 7th avenues in Phoenix. America’s Incredible Pizza Co. will begin construction for its new restaurant in the space. The restaurant is slated to open in May. Mark Roady of Strategic Retail Group represented the tenant; Judi Butterworth and Paul Serafin of De Rito Partners represented the landlord, Bell & 3rd Plaza LLC, in the transaction.
CHULA VISTA, CALIF. — MDS Contracting Inc., serving as general contractor, has completed the construction of Nico’s Steak & Chop House, which is located within Otay Ranch Town Center at 2015 Birch Rd. in Chula Vista. The $3.5 million, 6,500-square-foot steakhouse/bar is owned by Jimmy DiMatteo. The 250-seat restaurant was designed by Graham Downes Architecture.
CHICAGO — Mid-America Real Estate Corp. has arranged the sale of a 7,000-square-foot restaurant and bar located in Chicago’s Lincoln Park neighborhood. The building, which formerly housed Ranalli’s Restaurant & Beer Garden, was acquired by locally based 1925 North Lincoln LLC for an undisclosed amount. The buyer plans to open a new restaurant and bar in the space by May. Mid-America’s Luke Molloy represented the seller, Chicago-based Park West Properties. The buyer utilized in-house representation. The acquisition price was not disclosed.
LANCASTER, CALIF. — Los Angeles-based Investment Real Estate Associates (IREA) has completed the sale of a Del Taco restaurant location in Lancaster. Innovative Property Partners LLC sold the property to an undisclosed buyer for $2.25 million. Located at 1751 E. Ave., the property offers 2,547 square feet of space. Warren Berzack of IREA represented the buyer; Matthew Mousavi and Dennis Vaccaro of Faris Lee Investments represented the seller in the transaction.
SUGAR LAND, TEXAS — Three restaurants are opening new locations within Sugar Land Town Square, a 32-acre master-planned community located at the intersection of U.S. Highway 59 and Highway 6 in Sugar Land. Escalante’s has opened its fifth Mexican restaurant in the Houston area at 15933 City Walk. It is joined by frozen yogurt and smoothie shop Swirll, which is opening its fourth Houston location next door at 15955 City Walk. Finally, July will mark the opening of Japanese hibachi restaurant Taisho, which will open its sixth Houston-area location on the first floor of the recently completed Minute Maid corporate headquarters building. Phases I and II of Sugar Land Town Square are already complete. They include a 300-room, full-service Marriott hotel and conference center, the new 82,000-square-foot Sugar Land City Hall, 167 mid-rise residential condominiums, 208,000 square feet of office space, 182,000 square feet of Main Street-style retail and restaurant space, and a 1.4-acre pedestrian plaza. Upcoming phases of the project include an additional 357,000 square feet of Class A office space and 56,000 square feet of retail, both of which are scheduled for completion in 2010.