Restaurant

Poag Signs Six New Tenants to Join Avenue West Cobb Retail Development in Marietta, Georgia

by John Nelson January 3, 2024

MARIETTA, GA. — Poag Development Group, a Memphis-based company formerly known as Poag Shopping Centers, has signed six new tenants to join the roster at The Avenue West Cobb, an open-air retail development in Marietta that houses 80 shops, restaurants and businesses. The new tenants include two brands that recently opened: fitness boutique StretchLab and Walk-On’s Sports Bistreaux, a Cajun restaurant chain co-owned by former New Orleans Saints quarterback Drew Brees. The other four tenants — apparel retailer J. Crew Factory, dessert shop The Peach Cobbler Factory, medical primary care office Vera Whole Health and eyeglass retailer Warby Parker — are set to open the first half of the year. JLL is the property manager of The Avenue West Cobb, which locally based Cousins Properties opened in 2003.

January 3, 2024

Acquisitions Iowa Midwest Restaurant Retail

Quantum Negotiates $2.6M Sale of Starbucks-Occupied Property in Dubuque, Iowa

by Kristin Harlow January 2, 2024

DUBUQUE, IOWA — Quantum Real Estate Advisors Inc. has negotiated the $2.6 million sale of a newly completed property occupied by Starbucks in Dubuque, a city in eastern Iowa. The building, which is located across the street from a Hy-Vee grocery store, traded at a cap rate of 6.1 percent. Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, a Midwest-based developer. Steve Moore of Quantum represented the buyer, a Midwest-based investor.

January 2, 2024

Acquisitions Colorado Net Lease Restaurant Retail Western

1031 Exchange Buyer Acquires Shake Shack-Occupied Property in Colorado Springs for $5.3M

by Amy Works December 22, 2023

COLORADO SPRINGS, COLO. — An Oregon-based 1031 exchange buyer has purchased the ground lease of a restaurant asset located at 9723 Federal Drive in Colorado Springs. An undisclosed developer sold the asset for $5.3 million. A new double-drive-thru Shake Shack occupies the asset on a 15-year absolute triple-net ground lease. The property is adjacent to a 115,000-square-foot Scheels at the intersection of Interstate 5 and Interquest Parkway. Drew Isaac, James Rassenfoss and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal.

December 22, 2023

Development Loans Massachusetts Mixed-Use Multifamily Northeast Restaurant Retail Top Stories

Madison Realty Capital Provides $177.5M Loan to Refinance SCAPE Boylston Apartments in Boston

by Jeff Shaw December 22, 2023

BOSTON — Madison Realty Capital has provided a $177.5 million loan to Scape, a London-based multifamily developer that opened its U.S. headquarters in Boston in 2018. The loan will refinance the $165 million construction loan for SCAPE Boylston, a 415-unit apartment development that opened earlier this month in Boston’s Fenway neighborhood. The 226,700-square-foot property offers a mix of furnished studios, one- and two-bedroom apartments with Class A retail space on the ground floor. The apartments are already 95 percent occupied, and the retail space is 80 percent leased. Retail tenants include a global bank; Immersive Gamebox; Carbon Health; Dave’s Hot Chicken; Halal Guys; and a 10,000-square-foot, 156-seat, LGBTQ-focused black box theater. Tenant amenities include a landscaped terrace, fitness center, yoga room, co-working space, lounge library and study. The site is located near prominent academic and medical institutions including Boston University and Northeastern University, as well as Fenway’s rapidly growing biotech and life sciences industries. The lights of Fenway Park, home of Major League Baseball’s Boston Red Sox, are visible from the community, which is a block away from a Red Line MBTA train station. “Fenway is a premier academic and employment hub within Boston with substantial demand for efficiently designed, …

December 22, 2023

Leasing Activity Restaurant Retail Texas

Emmer & Rye Hospitality Group to Open 40,000 SF Food Hall at San Antonio’s Pearl District

by Taylor Williams December 21, 2023

SAN ANTONIO — Texas-based restaurant operator Emmer & Rye Hospitality Group will open Pullman Market, a 40,000-square-foot food hall that will be located within San Antonio’s Pearl District. Set to debut next spring, the culinary destination will feature four full-service restaurants, fast-casual concepts, an artisan butcher and fishmonger program, various wine and beer selections, Texas-based produce and specialty foods, a seasonal bakery and a fresh pasta program. The four restaurants include Italian concept Fife & Farro, Mexican eatery Mezquite, fine-dining establishment Isidore and dessert bar Nicosi.

December 21, 2023

Acquisitions California Restaurant Retail Western

College West Partners Sells Raising Cane’s-Occupied Building in Santa Maria, California for $5.1M

by Amy Works December 21, 2023

SANTA MARIA, CALIF. — Tustin-based College West Partners has completed the sale of a restaurant building located at 485 Betteravia Road in Santa Maria. A Los Angeles-based private investor acquired the asset for $5.1 million, or $1,608 per square foot. Alexander Moore, Sean Cox and Kevin Fryman of Hanley Investment Group Real Estate Advisors represented the seller and the buyer in the deal. A Raising Cane’s Chicken Fingers double drive-thru restaurant occupies the 3,172-square-foot freestanding building, which was built in 2022 on a 0.8-acre pad. The property is located within Enos Ranch, a 110-acre mixed-use development.

December 21, 2023

Development Restaurant Retail Texas

RE:VIVE Development Completes 26,000 SF Retail Project in Houston

by Taylor Williams December 20, 2023

HOUSTON — Locally based firm RE:VIVE Development has completed Stomping Grounds, a project in Houston’s Heights neighborhood that consists of 26,000 square feet of retail and restaurant space and 10,000 square feet of open green space. The site spans three acres. Tenants include local operators such as Rooster & Rice, Bollo Woodfired Pizza, Sonoma Wine & Cheese, Luloo’s Day & Night and Fat Cat Creamery.

December 20, 2023

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

RocaPoint Signs Six New Tenants at $1B Greenville County Square Development in South Carolina

by John Nelson December 19, 2023

GREENVILLE, S.C. — RocaPoint Partners has signed six new tenants to join Greenville County Square, a $1 billion mixed-use development underway in downtown Greenville. In addition to Whole Foods Market announced earlier this year, the 3 million-square-foot development will include Pottery Barn, Williams Sonoma, Cordish Cos. brands Sports & Social and PBR and restaurants Fleming’s Prime Steakhouse and Wine Bar, Hawkers and The Salty. Other committed tenants include Lima One Capital (office), Pins Mechanical, Fairway Social, Perch Kitchen and Tap, Agave Bandido, Jinya Ramen Bar and Ben & Jerry’s. Earlier this year, Greenville County moved into its new 262,000-square-foot administrative building and parking deck. RocaPoint is currently building out the project’s roads and infrastructure.

December 19, 2023

Leasing Activity Restaurant Retail Texas

Levcor Adds Five Tenants to MarqE Entertainment Center in West Houston

by Taylor Williams December 18, 2023

HOUSTON — Locally based developer Levcor has added five new tenants at MarqE Entertainment Center in West Houston. Experiential concepts Sloomoo Institute and Immersive Gamebox now occupy 23,000 square feet and 3,404 square feet, respectively. Glownar Aesthetics has signed a 1,200-square-foot lease, while restaurants Aviator Pizza & Drafthouse and Seaside Poke have committed to 4,504 and 1,600-square-foot spaces, respectively. Regal Cinemas also recently completed renovations to its 23-screen cinema at the center.

December 18, 2023

Louisiana Market Reports Restaurant Retail Southeast Southeast Market Reports

Retailers in New Orleans Leverage Unique Experiences, Both In-Town and Suburbs

by John Nelson December 18, 2023

The New Orleans retail market is in a state of flux like other markets across the country. The retail experience is changing for the end user, with an increase in online shopping, “try before you buy” customers and quicker walkthroughs. Retailers are left in an odd position, caught between experiential interactions with customers and trying to have them remember to purchase later at home. While the retail market is changing, the Greater New Orleans area is different due to the scarcity of space available for new construction and a stable flow of stores closing or relocating. Our market creates a streamlined experience where consumers have “retail corners” they can visit to shop — such as downtown New Orleans, especially the iconic streets of Canal and Magazine — but also the suburbs that include Metairie, Elmwood and the Westbank. With the concentrated shopping setup of the market, customers can shop more efficiently, and retail investors see the New Orleans market as a more demanding and creative place to build and open stores. Submarket by submarket The retail customer in New Orleans detests spending unneeded time in the car, so when customers can shop locally, get what they need and get it …

December 18, 2023

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