PASADENA, TEXAS — El Rincon Guanaco Restaurant has opened a 3,136-square-foot location within Parkview West, a retail property located at the corner of Blueberry Lane and Spencer Highway in Pasadena. Kay Walker of Centro Properties Group provided in-house representation on behalf of the landlord in lease negotiations. Terms of the lease were not disclosed.
Restaurant
HOUSTON AND THE WOODLANDS, TEXAS — The Houston office of CB Richard Ellis (CBRE) has arranged two Texas restaurant leases. In Houston, Ruby Tequila’s Mexican Kitchen signed a lease for 6,800 square feet within Commons at Willowbrook, a retail property located at the corner of FM 1960 and Highway 249, across from Willowbrook Mall. CBRE’s Alex Makris, Jazz Hamilton and Matt Keener represented the landlord, Commons at Willowbrook Inc. The tenant was represented by Greg Slusky of The Retail Connection. Makris, Hamilton and Keener were also involved in the leasing of 6,000 square feet of space at Woodlands Plaza, located at 30420 FM 2978 in The Woodlands, by San Miguel de Allende Bar & Grill. The trio represented the landlord, OP1-Reno LP. The tenant was represented by Gabriel Medina of Keller Williams. Terms of both leases were not disclosed.
CARLISLE, PA. — Wolfe & Shearer Realtors completed the sale of the former Red Devil Restaurant & Lounge, located at 14-16 N. Pitt S. in Carlisle. The buyer, Bruges Properties, plans to renovate the property and open a fine dining restaurant this summer. Bill Shearer of Wolfe & Shearer represented the buyer. The undisclosed seller was represented by Wayne Deakin, also of Wolfe & Shearer. The purchase price was not disclosed.
SPRING, TEXAS — The Houston office of Stan Johnson Co. (SJC) has completed the sale of an approximately 1.9-acre ground lease, located at the northwest corner of Interstate 45 and Louetta Road in Spring, for $1.61 million. The property currently contains an 8,000-square-foot Cheddar’s Casual Café restaurant. SJC’s Daniel Herrold and Hunter Haggard represented the seller, Houston-based Louetta Towne Center Ltd. Jay Levelll of Charlotte, N.C.-based Berkeley Capital Advisors represented the buyer, a New York-based individual investor participating in a 1031 exchange.
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.
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.