Restaurants

SRS Secures $6.5 Million Acquisition Loan for Mimi’s Plaza in Tustin, California

by Alex Tostado April 12, 2019

Tustin, Calif. — SRS Real Estate Partners has secured a $6.5 million loan for the purchase of Mimi’s Plaza, a retail center located at 13911, 13931 and 13951 Carroll Way in Tustin, California. The three-building property features 30,795 square feet of retail space. At the time of financing, the property was fully occupied. Ben Townsend and Matt Marlin of SRS’s Debt & Equity team structured the non-recourse, five-year loan on behalf of an out-of-state private investor. The loan features a 4.65 percent fixed interest rate and a 30-year amortization.

April 12, 2019

Company news News Restaurants Texas

Chuck E. Cheese to Trade on New York Stock Exchange Following $1.4 Billion Merger

by Alex Tostado April 9, 2019

Irving, Texas — Following a merger with the parent company of the Chuck E. Cheese brand, London-based Leo Holdings Corp. plans to rebrand itself and take the new company public on the New York Stock Exchange (NYSE) under the ticker symbol “CEC.” The enterprise value of the combined company, which will be known as Chuck E. Cheese Brands Inc., is estimated at $1.4 billion. Leo Holdings, which is self-described as a special purpose acquisition firm, has entered into a “definitive business combination agreement” with Queso Holdings Corp., which is the …

April 9, 2019

California Investment sales News Restaurants

Hanley Investment Group Arranges $3.5 Million Sale of Raising Cane’s Location in Southern California

by Alex Tostado April 9, 2019

Fontana, Calif. — Hanley Investment Group has arranged the $3.5 million sale of a single-tenant building situated within a Sprouts Farmers Market-anchored retail center in Fontana, California. The 3,233-square-foot property is fully leased to a Raising Cane’s Chicken Fingers restaurant, which opened in February. Other tenants at Highland Village shopping center include Jack in the Box, Burgerim, Jersey Mike’s, Oggi’s Restaurant, Mountain View Tires, Pacific Dental and Quick Quack Car Wash. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments Inc., in the transaction. …

April 9, 2019

Investment sales News Restaurants Wisconsin

Quantum Arranges $2.8 Million Sale of Popeyes-Occupied Property in Fitchburg, Wisconsin

by Alex Tostado April 9, 2019

Fitchburg, Wis. — Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of a Popeyes-occupied property in Fitchburg, Wisconsin, just south of Madison. The 4,442-square-foot building is located at 2844 Fish Hatchery Road. Popeyes has approximately 20 years left on its lease. Chad Firsel and Zack Hilgendorf of Quantum negotiated the transaction. A private buyer based in Seattle purchased the property from a Chicago-based developer.

April 9, 2019

Development Georgia News Restaurants

Joint Venture Opens Food Hall with 20 Vendors in Metro Atlanta

by Alex Tostado April 2, 2019

Marietta, Ga. — Marietta Square Market, an 18,500-square-foot food hall, has opened at 68 N. Marietta Parkway NW in the Historic Marietta Square District. Concordia Properties LLC and Creative Culinary Ventures LLC developed the asset, which is located adjacent to historic railroad tracks, to resemble a turn-of-the-century train station. Marietta Square Market offers a central bar, indoor and outdoor seating and 20 vendors. Kelly Wilson of Ackerman Retail is handling leasing efforts for Marietta Square Market.

April 2, 2019

Leasing News Restaurants Texas

Three New F&B Concepts to Open at 265-Acre Mixed-Use Development in Houston

by Alex Tostado April 1, 2019

Houston — Three new food and beverage concepts will open at Memorial City, a 265-acre mixed-use development in Houston owned by local firm MetroNational. A 7,000-square-foot space will be built for Kirby Ice House, with construction beginning this summer and the bar opening in fall 2020. A 5,830-square-foot space will be constructed for burger and milkshake concept Mia’s Table, and a 4,550-square-foot space will be built for Austin, Texas-based Torchy’s Tacos. Construction of both of those venues will begin this spring, with openings slated for next spring.

April 1, 2019

Entertainment Features From The Magazine Restaurants

Food Halls Spice Up Mixed-Use Projects

by SCB Staff March 26, 2019

Developers turn to unique eateries as ammunition in the ‘amenities arms race.’ By David Cohen In an effort to inoculate their mixed-use office and multifamily projects against the threat of e-commerce competitors, developers are increasingly incorporating food halls into their properties to attract tenants. “Food halls are the latest and greatest in the amenities arms race,” says Aaron Jodka, research director at Colliers International in Boston. “While most buildings are able to find ways to add bike storage, a gym, conference spaces or game rooms, not everyone can accommodate a …

March 26, 2019

Development Michigan News Restaurants

PREIT Adds The Cheesecake Factory to Tenant Mix at Woodland Mall in Grand Rapids, Michigan, as Part of Redevelopment

by Alex Tostado March 25, 2019

Grand Rapids, Mich. — The Cheesecake Factory is coming to Woodland Mall in Grand Rapids as part of the repositioning of the regional mall, according to PREIT, the center’s owner. This is the second location in the state of Michigan for The Cheesecake Factory. The first location in the state was in Novi. The restaurant will occupy 8,500 square feet at Woodland Mall and is expected to open in late October. Other new tenants at Woodland Mall include Black Rock Bar & Grill, Von Maur, Urban Outfitters, REI and Tricho …

March 25, 2019

Development Florida News Restaurants

Yumbrella Food Hall Opens at The Shops at Sunset Place in South Miami, Florida

by Alex Tostado March 20, 2019

South Miami, Fla. — Yumbrella Food Hall is now open at The Shops at Sunset Place in South Miami, Florida. Led by food truck organizer and restaurateur Steve Simon, Yumbrella is the only food hall in the city, paying homage to Miami’s original food hall, which opened in the 1970s by the same name. The 6,500-square-foot hall features seven restaurant concepts ranging from Chinese to soul food, Italian, Latin, American and German fare. Confirmed food hall vendors include Cracked by Chef Adrianne, Dr. Limon Express, Killer Melts, NOODS, King of …

March 20, 2019

Development Florida News Restaurants

Cheesecake Factory to Open Restaurant in North Florida

by Alex Tostado March 20, 2019

Gainesville, Fla. — Butler Enterprises has announced a lease with Cheesecake Factory to bring the restaurant to Butler Town Center at Stengel Field in Gainesville, Florida, this fall. Cheesecake Factory will anchor the 450,000-square-foot center’s entry on Archer Road and Interstate 75. The restaurant will span 10,000 square feet including a 2,000-square-foot outdoor patio.

March 20, 2019

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