Latest press releases in Restaurants

Hanley Brown Group Closes Three Riverside County Commercial Property Sales Totaling $5,800,000
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, announced today the sales of three Riverside County commercial properties for a total consideration of $5,800,000: Jiffy Lube plus self-service car wash in Moreno Valley for $1,900,000; Wienerschnitzel/Tastee Freez/Hungry Howie’s Pizza combo restaurant in Lake Elsinore for $2,700,000 (one of the highest prices per square foot in this area at $846 psf); and a 10,401-square-foot office/retail building in downtown Lake Elsinore for $1,200,000.

Coreland Companies Opens New Office in Salt Lake City, UT & Hires Renee Pugh as Regional Real Estate Manager
Coreland Companies of Tustin, one of the largest real estate service companies based in California, announced today it has opened a new regional office in Salt Lake City, the firm’s first out of state office, and named local real estate management expert Renee Pugh as Regional Real Estate Manager. Coreland’s new office is located at 675 East 2100 South, Suite #100, Salt Lake City, UT 84106; Phone: (801) 466-0177.

Hanley Brown Group and Lee & Associates Represent Buyer and Seller in $9,800,000 Sale of Hemet Neighborhood Shopping Center
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the sale of retail properties, announced today Eric L. Werner of Hanley Brown Group and Brian Bielatowicz of Lee & Associates in Murrieta, Calif., represented the buyer and seller in the sale of a grocery/drug anchored neighborhood shopping center in Hemet, Calif. for $9,800,000. The cap rate was 5.82% and the buyer paid all cash and in 25 days. The sale included four vacant pads providing the buyer the opportunity for future commercial development.

Hanley Brown Group Represents Buyer and Seller in $3,600,000 Sale of Office/Medical Building at 5.6% Cap Rate in San Fernando Valley, Calif. with All Cash, 25-Day Close
Kevin T. Fryman and Eric L. Werner of Hanley Brown Group represented the buyer and seller in the sale of a 29,088-square-foot, multi-tenant office/medical building at 8215 Van Nuys Boulevard in Panorama City, Calif. The purchase price was $3,600,000 representing a 5.6% cap rate. Built in 1958, the subject property is a three-story freestanding building. The property was 61% occupied at the close of escrow.

Rawson, Blum & Leon Closes Escrow on $40 Million Retail/Residential Project in Berkeley, Calif. & Erik Halterman Named New Development Manager
Rawson, Blum & Leon (RBL), specialists in the acquisition, development and management of commercial real estate, announced today that the company closed escrow on a vacant parcel located in Berkeley, Calif. with plans to create a $40 million urban infill, mixed-use residential/retail project. Erik Halterman was also hired as Development Manager allowing the company to more aggressively acquire and develop retail and mixed-use projects. RBL expects to put $150 million in assets into the development pipeline and acquire $30 to $50 million per year of existing assets.

Souza’s Announces Its Re-opening and Steps out As a Socially Responsible Restaurant Reducing the Alcohol Footprint in Vermont
CHEF KELLY Q. DIETRICH and SOUZA'S BRAZILIAN RESTAURANT are leading the field again in Vermont. They have accepted the challenge of becoming more socially responsible members in the Burlington community by taking precedent setting strides in offering free cab rides to those who have had too much to drink. It supports Vermont's zero tolerance policy for drinking and driving.

Hanley Brown Group Closes 4 Orange County Retail Centers at Record Prices Totaling $25,395,000
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of buyers and sellers in the sale of retail properties, closes escrow on four prominent Orange County shopping centers for a total of $25,395,000. Two properties were located in Huntington Beach; the others were located in Newport Beach and Garden Grove.

Real Estate Veteran Gary T. Ward to Head Up Highland Development Company’s No. CA Office as VP of Development
Highland Development Company, a dynamic retail and retail-driven mixed-use development company, announced that 30-year real estate veteran Gary T. Ward has been hired as Vice President of Development to head up the company’s San Mateo office. In this new position, Ward will direct all phases of real estate development in Northern California and the Pacific Northwest for Highland Development.

Panattoni Signs JCPenney to Join Home Depot at New $90 Million Retail Development in Chino, Calif.
Panattoni Development Company’s retail division, headquartered in Irvine, Calif., announced today that Plano, Texas-based JCPenney has signed a lease to open a 103,525-square-foot store at Rancho del Chino, Panattoni’s new $90 million retail development project, which is under construction in Chino, Calif. The 42-acre project, which also includes Home Depot, is expected to include an electronics retailer and office supply store as well as additional retail shops and restaurants.

KTGY GROUP Names Stacy Stout as Marketing Director in New Denver Office
Award-winning KTGY GROUP, INC., Architecture and Planning, has added Stacy Stout as marketing director in the company’s recently opened Denver, Colorado office. In her new position, Stout is responsible for the region’s business development and marketing activities. The addition of Stout will provide KTGY with the local resources to more effectively reach out to existing and prospective clients in the region.

Highland Development Plans New 84,500 SF Retail/Office Project in Bakersfield, Calif.
Highland Development Company, a subsidiary of The Marcus & Millichap Company and a dynamic retail and retail-driven mixed-use development company, announced that the company is developing an 84,500 sq. ft. retail/office project in Bakersfield, CA, one of the fastest growing cities in the U.S. at the southwest corner of Panama Lane and Wible Road. The new project, which will be anchored by an existing Walgreens, is expected to break ground in the summer 2007 and be completed by late 2007.

Panattoni Begins Construction on New 450,000 Sq. Ft. Rancho del Chino Shopping Center in Chino, CA
Panattoni Development Company’s retail division, headquartered in Irvine, Calif., has begun construction on the 450,000-square-foot retail development project, Rancho del Chino in Chino, Calif. Upon completion, the project will consist of Home Depot, an electronics retailer, a department store and an office supply store as well as several shops and restaurants. Home Depot and 39,000 square feet of retail shop space are slated to open in January 2008.

Coreland Companies Continues Expansion by Hiring Susan Szabo as Regional Real Estate Manager
Coreland Companies of Tustin, Calif., one of the largest privately held commercial real estate service companies based in California, recently named Susan Szabo to the position of Regional Real Estate Manager. Previously, she was General Manager for Pan Pacific Retail Properties. Szabo will be responsible for supervising the real estate management and operational activities of a portfolio consisting primarily of retail and mixed-use properties located throughout Orange County.

Hanley Brown Group Represents Buyer in $7,400,000 Sale of Retail Center in Moreno Valley, Calif.
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of buyers and sellers in the sale of retail properties, announced today Jeremy S. McChesney and Eric L. Werner of Hanley Brown Group represented the buyer in the $7,400,000 sale of a new 20,494-square-foot multi-tenant retail center shadow anchored by Food 4 Less and located at 24430 Alessandro Boulevard in Moreno Valley, CA. The cap rate was 6.36%. The property was 100% occupied at the time of sale.

Hanley Brown Group Awarded Two Prime Orange County Listings Valued at $24,350,000
Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in Southern California and a market leader in the exclusive representation of owners in the sale of shopping centers, announced today it has been awarded the exclusive listings to market College Country Shopping Center in Huntington Beach, Calif. for $12,650,000 at a cap rate of 6.37% and Magnolia Point & Magnolia Center in Westminster, Calif. for $11,700,000 at a cap rate of 6.00%. Eric P. Wohl of Hanley Brown Group has been named the listing agent for both properties.