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.
Restaurant
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.
WYLIE, TEXAS — Fort Worth, Texas-based NAI Huff Partners has arranged a lease in Wylie for a new restaurant. Curbis LLC has leased 1,936 square feet at First Wylie Shopping Center, located at 627 N. Highway 78, and plans to open a restaurant named Meteor Hamburgers. NAI’s Frank Jester represented Curbis LLC in lease negotiations. The landlord, Thomas Z. Hoffman, was represented by Brad Quine of Quine & Associates. Terms of the lease were not disclosed.
FORT WORTH, TEXAS — Mazur Capital has acquired a property located at 3017 Morton St. in Fort Worth for the future location of Capital Bar. The 0.3-acre property currently houses a 1950s-era building that was most recently used as a print shop. The building will be demolished to make way for a 2,600-square-foot bar. It will feature a modern-industrial lounge design with a 38-foot long bar, flat-screen televisions, exposed beam ceilings and a central staircase that leads up to a 1,500-square-foot covered, rooftop patio. The property will provide space for on-site parking, as well as the possible addition of an outdoor live music stage. Completion is scheduled for May. The project architect is locally based Barnes Architects.
COLLEYVILLE, TEXAS — The grand opening has been held for Main Street Chop & Fish House, a new steak and seafood restaurant located in Colleyville. The restaurant is situated on the second floor of 62 Main St. within The Village at Colleyville mixed-use development. It features a bar, a private dining room and tall windows that overlook the Main Street-style project. The Village at Colleyville. It includes two- and three-story buildings containing a mix of retail, restaurant, office and residential uses.
HOUSTON — Marcus & Millichap has brokered the sale of the former Bissonnet Corner Restaurant, a vacant 3,021-square-foot restaurant located 12180 Bissonnet St. in Houston. The property was originally built in 1985 and was renovated in 2000. Justin Miller of Marcus & Millichap’s Houston office represented the seller, a Texas-based private investor. The property was purchased by another Texas-based private investor/user. The acquisition price was not released, but the property listed for $500,000.
JEFFERSON CITY AND COLUMBIA, MO. — Carpinteria, Calif.-based CKE Restaurants Inc. has sold 11 Hardee’s restaurants located in the Jefferson City and Columbia markets. Rising Stars LLC has purchased the units for an undisclosed amount. In addition to the acquisitions, Rising Stars has committed to build a minimum of three new Hardee’s restaurants in the two markets over the next 5 years. The transaction was brokered by Franchise Resale Consultants, d/b/a Praetorian Group. The sale marks the completion of the strategic refranchising program that CKE Restaurants originally announced in April 2007. Under the refranchising program, CKE Restaurants sold a total of 238 Hardee’s units to franchisees, and secured commitments for 115 new franchise restaurants under development agreements for those markets. The company sold 38 more units than it had originally announced it would refranchise. CKE Restaurants currently owns 477 Hardee’s restaurants and 415 Carl’s Jr. restaurants. To date, for fiscal 2009, CKE Restaurants has entered into a total of 20 franchise development agreements representing commitments for 380 restaurants. The principals of the franchisee purchasing the 11 Hardee’s restaurants currently own and operate more than 100 Carl’s Jr. and Hardee’s restaurants throughout the United States.
CAMDEN, N.J. — The grand opening has been held for Market Street Pizzeria & Italian Bistro, a new restaurant located at One Market St. in Camden. The restaurant, which is owned by Jeff Anastasi and Joe Cavalieri, is situated on the ground floor of The Victor Lofts, a 341-unit luxury loft apartment building owned by Philadelphia-based Dranoff Properties. The Victor is located on the Camden waterfront, and consists of the adaptive reuse of the historic RCA Victor cabinet manufacturing building. Market Street features seating for 34, as well as take-out and delivery service for residents of The Victor. Other retailers at The Victor Lofts include The Victor’s Pub, Susquehanna Bank, Miss G’s, Park ‘N Clean Dry Cleaners, Symphony in C and Rita’s Water Ice.