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Restaurants

Dave's-Hot-Chicken
LeasingNewsPennsylvaniaRestaurants

Dave’s Hot Chicken to Open Three Restaurants in Metro Philadelphia

by Hayden Spiess

Philadelphia — Dave’s Hot Chicken will open three restaurants at Federal Realty Investment Trust properties throughout metro Philadelphia. Scheduled to open this month, the first store will occupy 2,995 square feet at Northeast Shopping Center in Philadelphia. Dave’s will also open restaurants at Ellisburg Shopping Center and Willow Grove Shopping Center in the spring and fall of this year, leasing 3,086 and 2,825 square feet at the properties, respectively. Ellisburg Shopping Center is located in Cherry Hill, New Jersey, and Willow Grove Shopping Center is located in Willow Grove, Pennsylvania. 

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Burger-King
Company newsDevelopmentInvestment salesNew YorkNewsRestaurants

Burger King Owner to Buy Largest Franchisee for $1 Billion

by Hayden Spiess

Toronto and Syracuse, N.Y. — Toronto-based Restaurant Brands International Inc. (RBI) has agreed to acquire Syracuse-based Carrols Restaurant Group Inc. for $1 billion. RBI (NYSE: QSR) owns the Burger King, Popeyes, Firehouse Subs and Tim Hortons brands. Carrols (NASDAQ: TAST) is the largest Burger King franchisee in the United States, operating 1,022 locations in 23 states. Burger King says the transaction is part of its “Reclaim the Flame” plan to accelerate sales growth and drive franchisee profitability. The transaction follows the brand’s initial $400 million investment announced in September 2022 to …

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CaliforniaLeasingNewsRestaurants

NOVO Brazil Opens 11,500-Square-Foot Restaurant at Mission Valley in San Diego

by Hayden Spiess

San Diego — NOVO Brazil Brewing Co. has opened an 11,500-square-foot restaurant and sports bar within Mission Valley, a 1.1 million-square-foot open-air shopping center located in San Diego. Situated within a space formerly occupied by Tilted Kilt, the concept features an 8,000-square-foot dining room, 3,500-square-foot outdoor patio, a 40-seat bar and extensive LED video walls for viewing sporting events. Other tenants at Mission Valley include Target, Nordstrom Rack, Macy’s Home, Michael’s, Bloomingdale’s Outlet, 24-Hour Fitness, Yard House, Outback, Buffalo Wild Wings and AMC. 

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Whataburger
Investment salesNewsRestaurantsTennessee

Quantum Brokers $2.3 Million Sale of Whataburger Ground Lease in Tennessee

by Hayden Spiess

Millington, Tenn. — Quantum Real Estate Advisors has brokered the $2.3 million sale of a new single-tenant property in Millington. Whataburger will occupy the building on a ground-lease basis. The property is currently under construction. Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, a Southeast-based developer, in the transaction. 

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Smalls-Sliders
Company newsDevelopmentLeasingNewsRestaurantsTexas

Smalls Sliders to Open Five Restaurants in Metro Dallas

by Hayden Spiess

Dallas — Cheeseburger concept Smalls Sliders has signed an agreement with hospitality group Om Texas to open five restaurants, dubbed “Cans,” in metro Dallas. This marks the second multi-unit franchise deal in the city for the brand. Potential locations include Mesquite, Garland, Rockwall, Greenville, Murphy, Rowlett and Richardson, with the first store scheduled to open in the fourth quarter of 2024. Smalls Sliders opened its first Can in 2019 and currently has more than 160 restaurants open or under development.

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Chick-fil-A_Norcross-Ga
GeorgiaInvestment salesNet leaseNewsRestaurants

Ackerman Facilitates Sale of 4,200-Square-Foot Chick-fil-A Ground Lease in Metro Atlanta

by Hayden Spiess

Norcross, Ga. — Ackerman Retail, a division of Ackerman & Co., has facilitated the sale of a 4,200-square-foot absolute triple-net Chick-fil-A ground lease located in Norcross, roughly 20 miles outside Atlanta. Constructed in 1998, the property was renovated in 2018. Sean Patrick of Ackerman Retail represented the seller, an entity doing business as WB Holdings-Jimmy Carter Boulevard, in the transaction. A local private buyer acquired the ground lease. 

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Company newsNewsRestaurantsTexas

TGI Fridays to Close 36 Restaurants

by Hayden Spiess

Dallas — TGI Fridays has announced plans to close 36 restaurants in markets throughout the country. The stores were designated “underperforming” in a press release issued by the Texas-based company. “We’ve identified opportunities to optimize and streamline our operations,” says Ray Risley, U.S. president and chief operating officer of TGI Fridays. Currently the brand operates more than 650 restaurants in 51 countries. 

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Pullman-Market_San-Antonio
DevelopmentNewsRestaurantsTexas

Emmer & Rye to Open 40,000-Square-Foot Culinary Market at The Pearl in San Antonio

by Hayden Spiess

San Antonio — Emmer & Rye Hospitality Group will open a 40,000-square-foot culinary market within the Pearl mixed-use district in San Antonio. Dubbed Pullman Market and scheduled to open in spring 2024, the property will feature four full-service restaurants, as well as fast-casual concepts, an artisan butcher and fishmonger program, beer and wine, local produce and specialties and a seasonal bakery and fresh pasta program. Food-and-beverage concepts within the market will include Fife & Farro, Mezquite, Isidore and Nicosi. 

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ArizonaCompany newsDevelopmentFloridaHawaiiNewsRestaurants

Pepper Lunch Signs Deals to Open 20 Restaurants in Florida, Hawaii

by Hayden Spiess

Japanese fast-casual concept Pepper Lunch has signed two deals to open 20 restaurants in Florida and Hawaii. The first agreement includes plans for 10 units in Florida in the Tampa, Orlando and Gainesville markets. The Majestic Restaurant Group will operate the restaurants, with the first opening scheduled for the third quarter of 2024. In Hawaii, NiKU LLC will develop an additional 10 restaurants. The opening of the first unit is scheduled for the first quarter of 2025, with initial development focused on Honolulu and the greater island of Oahu. Established …

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CaliforniaLeasingMixed-useNewsRestaurants

Four Tenants Sign Leases at The Culver Steps in Metro Los Angeles

by Hayden Spiess

Culver City, Calif. — Four new tenants have signed leases at The Culver Steps, a 120,000-square-foot mixed-use development located in Culver City, roughly 11 miles outside Los Angeles. Skincare concept Formula Fig has opened a 2,000-square-foot store at the property, and Yunomi Handroll has opened a 2,500-square-foot restaurant. Restaurants AFURI Ramen and Laurel Grill have also signed leases at the development and will occupy 2,600 and 7,500 square feet, respectively. AFURI Ramen is scheduled to open this month, and Laurel Grill will open next year. 

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