Restaurant

Shake Shack, Panera Bread Sign Leases at Rosedale Center in Roseville, Minnesota

by Kristin Harlow March 18, 2022

ROSEVILLE, MINN. — Shake Shack and Panera Bread have signed leases at Rosedale Center, a nearly 1.3 million-square-foot shopping center in Roseville, a suburb of the Twin Cities. Shake Shack will occupy 3,500 square feet, while Panera Bread will lease 4,000 square feet. Both establishments are scheduled to open in winter 2023 and will feature drive-thru service in addition to indoor and patio seating. Holly Rome and Lane Walsh of JLL, along with Robin Sande of Newmark, secured the tenants. Rosedale Center is home to roughly 160 retailers.

March 18, 2022

Acquisitions California Restaurant Retail Western

Hanley Investment Negotiates $4.6M Sale of Restaurant Property in Palm Desert, California

by Amy Works March 17, 2022

PALM DESERT, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed, single-tenant restaurant property at Monterey Crossing shopping center in Palm Desert. Newport Beach-based Fountainhead Development sold the asset to a Southern California-based private investor for $4.6 million. Located at 73320 Dinah Shore Drive, The Habit Burger Grill occupies the 2,700-square-foot drive-thru restaurant property. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller and developer, while John Costa, David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office represented the buyer in the transaction.

March 17, 2022

California Loans Missouri Restaurant Retail Western

BridgeCore Funds $3.6M Loan for 7-Eleven Location in California, Taco Bell in Missouri

by Amy Works March 11, 2022

SANTA ANA, CALIF., AND WARSAW, MO. — BridgeCore has funded a $3.6 million bridge loan to finance the purchase of a to-be-built retail building that 7-Eleven will occupy in Santa Ana. The loan was cross-collateralized with a Taco Bell-occupied asset in Warsaw. The name of the borrower was not released. The loan features a 12-month term with six months of yield maintenance, which will allow the seller of the 7-Eleven property to complete its construction of the build-to-suit on behalf of the borrower and meet its delivery obligations to 7-Eleven.

March 11, 2022

Acquisitions Arizona Development Restaurant Retail Western

BJ’s Restaurants Plans 7,600 SF Location in Goodyear, Arizona

by Amy Works March 8, 2022

GOODYEAR, ARIZ. — BJ’s Restaurants Inc. has purchased land to develop a BJ’s Restaurant & Brewhouse near Civic Square at GSQ, a new city hall, library and community gathering spot in Goodyear. Located on a three-acre site at the northeast corner of North 150th Drive and West McDowell Road, the family-friendly restaurant is slated to open in late 2022. Totaling more than 7,600 square feet, the new BJ’s interior will seat approximately 250 guests, with more seating at the patio and round bar. The restaurant plans to hire approximately 160 team members. BJ’s operates seven breweries in five states and offers 11 beers and ciders on tap.

March 8, 2022

Development Indiana Leasing Activity Midwest Restaurant Retail

Caliber Collision, Starbucks to Open at Southtown Centre in Fort Wayne, Indiana

by Kristin Harlow March 7, 2022

FORT WAYNE, IND. — Caliber Collision and Starbucks have signed leases to open at Southtown Centre in Fort Wayne. Caliber Collision will open a store at 7851 Southtown Crossing, marking its second location in Fort Wayne. Starbucks will lease a 2,225-square-foot building set to be constructed later this year at 7800 S. Anthony Blvd. Barry Sturges, Neal Bowman and Phil Hagee of Sturges Property Group represented Caliber Collision. Sturges worked with the Fort Wayne Redevelopment Commission and the developer, The Elia Group, on the Starbucks deal.

March 7, 2022

Kansas Leasing Activity Midwest Restaurant Retail

Martin City Pizza to Open in Lenexa City Center

by Kristin Harlow March 4, 2022

LENEXA, KAN. — Martin City Pizza and Taproom will open at the Hampton Building within Lenexa City Center in Kansas. The brewery and restaurant, which is slated to open in late spring or early summer, will span more than 6,000 square feet and feature an outdoor patio. Martin City has three other locations in Martin City, Lee’s Summit and Mission Farms. Copaken Brooks owns Lenexa City Center, which will consist of office, retail and residential space upon full buildout. Erin Johnston of Copaken Brooks represented ownership on an internal basis.

March 4, 2022

Acquisitions Oregon Restaurant Retail Western

Pine Tree Acquires 269,710 SF Sunset Esplanade Shopping Center in Hillsboro, Oregon

by Amy Works March 4, 2022

HILLSBORO, ORE. — Northbrook, Ill.-based Pine Tree, in partnership with a U.S. state pension fund, has purchased Sunset Esplanade, a neighborhood retail center in Hillsboro, for $65.9 million. Target, Safeway, Ross Dress for Less, Petco and Starbucks Coffee are tenants at the 269,710-square-foot shopping center, which is located along SE Tualatin Valley Highway. Faris Lee Investments brokered the transaction. The name of the seller was not released.

March 4, 2022

Acquisitions Colorado Restaurant Retail Western

Monfort Cos. Sells Retail Property in Denver’s LoDo Neighborhood for $24M

by Amy Works March 3, 2022

DENVER — Monfort Cos. has completed the sale of 1946 Market Street, a retail building located in Denver’s LoDo neighborhood. Jim Blumenthal, a local real estate investor, acquired the asset for $24 million. Monfort Cos. and Riot Hospitality Group will continue to lease and operate Dierks Bentley’s Whiskey Row, which recently opened in the 22,000-square-foot property following a renovation of the original building, including a 6,000-square-foot addition. Whiskey Row opened in New Year’s Eve.

March 3, 2022

Leasing Activity Restaurant Retail Texas

Federal American Grill Opens 7,218 SF Restaurant in The Woodlands, Texas

by Taylor Williams March 2, 2022

THE WOODLANDS, TEXAS — Federal American Grill, a concept focused on steaks, seafood and whiskey cocktails, has opened a 7,218-square-foot restaurant in The Woodlands, located about 30 miles north of Houston. The location at Wood Ridge Plaza Shopping Center is the restaurant’s fourth in the Houston area. David Littwitz of Littwitz Investments represented Federal American Grill in the lease negotiations. Katherine Wildman of Wulfe & Co. represented the landlord, and entity doing business as CH Realty VI/R Houston Wood Ridge LP.

March 2, 2022

Acquisitions Illinois Midwest Restaurant Retail

Adelphia Properties Arranges Sale of 14,000 SF Former Restaurant Building in Elmhurst, Illinois

by Kristin Harlow February 28, 2022

ELMHURST, ILL. — Adelphia Properties has arranged the sale of a 14,000-square-foot former restaurant building in Elmhurst, about 20 miles west of Chicago. Arena Sports Bar & Grille formerly occupied the property, located at 630 W. Lake St., for more than 35 years. Simeon Spirrison and George Spirrison of Adelphia represented the seller, the proprietor. A local investor purchased the asset for an undisclosed price.

February 28, 2022

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