Arlington, Va. — JBG SMITH has signed 11 restaurant tenants to Water Park, a mixed-use development currently underway in National Landing in Arlington. Brij, Bubbie’s Plant Burger, Cracked Eggery, DC Dosa, Dolci Gelati, Falafel Inc., PhoWheels, Tiki Thai, Queen Mother’s will occupy 300-square-foot kiosks at the project. Additionally, culinary and creative group STHRN Hospitality will operate Water Bar and Crush Pizza at the property.
One location in Southern California consistently wins out when it comes to successful companies looking to expand their brand: the City of Moreno Valley. Companies like Sprouts, Raising Cane’s, Texas Roadhouse, Hilton, Capriotti’s and WoodSpring Suites are developing and growing here, supported by Moreno Valley’s stellar pro-business environment, strategic location, affordable lease rate and a skilled and motivated workforce. Fortune 500 and international companies are thriving in Moreno Valley, and the reasons why are clear: location, growth and retail incentives within the hottest market in Southern California. Moreno Valley Offers …
Fort Wayne, Ind. — Marcus & Millichap has brokered the $3.2 million sale of a 9,500-square-foot freestanding restaurant property in Fort Wayne. Biaggi’s Ristorante Italiano occupies the building, which was constructed as a build-to-suit for the restaurant in 2001, on a net-lease basis. Damien Yoder and Madison Harman of Marcus & Millichap’s Yoder-Harman Group represented the seller, a California-based family trust. An in-state lender provided acquisition financing on behalf of the buyer, an Indiana-based family office. Biaggi’s operates 16 restaurants in eight states. There are six years remaining on its …
Brandon, Fla. — SRS Real Estate Partners’ National Net Lease Group has brokered the $8.1 million portfolio sale of two single-tenant net-lease retail properties totaling 6,454 square feet in Brandon, roughly 13 miles outside Tampa. The restaurants, which are occupied by Panera Bread and Chipotle Mexican Grill, are outparcels to Lake Brandon Plaza, a 200,000-square-foot, Publix-anchored shopping center. Both properties were completed this year and have new 15-year, absolute triple-net leases in place. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based private investor, in the 1031 …
Austintown, Ohio — The Cooper Commercial Investment Group has arranged the $2.2 million sale of a single-tenant property located in Austintown in Northeast Ohio. Chipotle Mexican Grill occupies the newly developed building on a 10-year, triple net lease. Dan Cooper of Cooper Commercial represented the seller, a private developer. An undisclosed, all-cash buyer purchased the property.
Houston and Sugar Land, Texas — Whitestone REIT has signed four new tenants to four of its Texas properties. Together, the leases total 26,818 square feet. Dough Zone Dumpling House will open a 3,863 square foot restaurant at BLVD Place property, located in Houston, bringing the property to 99 percent occupancy. Lion Square and Town Park Plaza, also in Houston, will see the addition of KPOT and China King Express, respectively. Beginning in March, KPOT will open a 9,865-square-foot restaurant, and China King Express has signed a 1,727-square-foot lease, marking …
Corona, Calif. — Hanley Investment Group Real Estate Advisors has arranged the $2.9 million sale of a single-tenant retail property located in Corona. A Taco Bell Drive-Thru — operated by the tenant, Alvarado Restaurant Nation — occupies the 2,049-square-foot property on a triple-net-lease basis. Bill Asher and Jeff Lefko of Hanley represented the developer and seller, Evergreen Development, in the transaction. David Aschkenasy of Commercial Asset Group represented the 1031-exchange buyer, a locally based private investor.
Ellicott City, Md. — Giant Food has partnered with Nalley Fresh to open a restaurant within the grocer’s Ellicott City store, roughly 13 miles outside Baltimore. Nalley Fresh offers customizable salads, wraps and bowls. The restaurant marks the tenth location for the restaurant and the first in-store fast-casual partnership for Giant Food, which currently operates 165 stores.
Las Vegas and Palo Alto, Calif. — Simon Property Group and José Andrés Group (JAG) will collaborate to bring restaurants to three properties located in Las Vegas and Palo Alto. The partnership will introduce new dining concepts to Stanford Shopping Center in Palo Alto and The Shops at Crystals in Las Vegas. The collaboration will also bring Turkish, Greek and Lebanese restaurant Zaytinya to The Forum Shops at Caesars Palace in Las Vegas. “Simon Property Group is the preeminent retail property owner with a significant footprint in cities where we …
San Antonio, Texas — Nordstrom Rack and Chick-fil-A have signed leases at Northwoods Shopping Center, a 443,148-square-foot retail center located in San Antonio. Nordstrom Rack will open a 34,966-square-foot store in September. Chick-fil-A is constructing a 4,995-square-foot building at the property, a timeline for which was not announced. Other tenants at the center include H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty, Old Navy, Chuy’s, Fish City Grill, La Madeleine French Bakery & Café, Red Robin and Regal Cinemas. CIM Group is the landlord.