Dublin, Ohio — The Wendy’s Co. has announced plans to open more than 200 new restaurants through 2024. The new restaurants will feature the brand’s Global Next Gen design, which features a dual-sided kitchen, self-order kiosks and a dedicated delivery pick-up window and parking spaces. “The Global Next Gen future-forward design unlocks 400 times the capacity for digital orders, accelerating the system’s digital growth,” says Abigail Pringle, president of international and chief development officer with the company.
Bellevue, Wash. — Arepa Venezuelan Kitchen will open a 1,010-square-foot restaurant in Bellevue, roughly 10 miles outside Seattle. Situated within The Marketplace at Factoria, the restaurant is scheduled to open this September and will offer Venezuelan and Caribbean food in a fast-casual space. An affiliate of Kimco Realty Corp. manages the property.
Tempe, Ariz. — Arizona State University (ASU) and Catellus Development Corp. are underway on Novus Place, the 275,000-square-foot retail and entertainment portion of the 4.5 million-square-foot mixed-use Novus Innovation Corridor in Tempe. Located adjacent to ASU’s Tempe campus, the multi-phase project is being developed through a public-private partnership between the university and development firm. Vestar will manage the retail portion of the development. Fox Restaurant Concepts (FRC) recently signed a lease to bring three food-and-beverage concepts — Flower Child, Blanco Taco Cocina + Cantina and North Italia — to the property, …
Las Vegas —Bojangles has signed a development agreement for 20 new restaurants in Las Vegas, as well restaurants within 10 TravelCenters of America franchise locations. TravelCenters of America franchisee LVP Restaurant Group LLC, an entity of LV Petroleum, and its investment partner, Kingsbarn Realty Capital, will lead the projects. In partnership with LVP Restaurant Group, Kingsbarn will identify and acquire properties suitable for the new Bojangles developments. In July, Bojangles launched its expansion strategy, including a streamlined menu, new building design and new staffing model.
Atlanta and New York City — Chick-fil-A has announced plans for two new restaurant concepts. Beginning in 2024, the brand will open an elevated drive-thru concept in metro Atlanta as well as a walk-up restaurant in New York City. Both concepts are designed to enhance efficiency and convenience, with plans for the drive-thru restaurant including a kitchen built above the drive-thru lanes and dedicated lanes for mobile orders. Targeted toward urban areas with heavy foot traffic, the walk-up concept will allow guests to order through the Chick-fil-A app and pick up …
Fremont, Calif. — Marcus & Millichap Capital Corp. has secured a $4.6 million loan for the acquisition of a single-tenant retail property located in Fremont. Ron Balys of Marcus & Millichap arranged the 10-year financing on behalf of the undisclosed borrower. Red Lobster occupies the property.
Peachtree Corners, Ga. —North American Properties (NAP) has partnered with Politan Group to open a 10,000-square-foot food hall at The Forum Peachtree Corners, a mixed-use redevelopment in metro Atlanta. Scheduled to open in summer 2024, Politan Row at The Forum marks the second food hall for the partnership, following the opening of Politan Row at Colony Square in Midtown Atlanta two years ago. Bell-Butler is designing the food hall, which will feature space for seven independent food-and-beverage concepts, a bar, private event venue and an outdoor patio fronting the greenspace.
Carlsbad, Calif. — CBRE has brokered the $23.5 million sale of three restaurant properties located in Carlsbad. Reg Kobzi, Michael Peterson, Joel Wilson, Philip Voorhees, Megan Lanni and Eric Shain of CBRE represented the seller, CPT/SC Title Holding Corp., in the disposition of the properties to separate buyers. Creekside Shops LLC purchased a 10,262-square-foot building leased to King’s Fish House at 5625 Paseo Del Norte for $10.3 million. An undisclosed buyer purchased a 7,166-square-foot P.F Chang’s located at 5621 Paseo Del Norte for $5.7 million. K Ishii Manhattan Ave LLC acquired a 10,470-square-foot BJ’s Restaurant …
Katy, Texas — Two tenants have signed leases at LaCenterra at Cinco Ranch, a shopping center located in Katy. Kilwin’s, a sweets shop, will occupy a 1,014-square-foot space at the property beginning in the fourth quarter of this year. Nando’s will also open a 2,754-square-foot restaurant at the center in the first quarter of 2024. JLL manages the property.
LaGrange, Ga. —Marcus & Millichap has brokered the $3.3 million sale of a newly constructed single-tenant property in LaGrange. Chick-fil-A occupies the 5,000-square-foot property, which is as an outparcel to a new Publix-anchored shopping center, on a 15-year ground lease. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group represented the undisclosed seller in the transaction.