Latest press releases in Restaurants

Hanley Investment Group Sells Single-Tenant O’Reilly Auto Parts in Oakland, Calif. for $2.25 Million
Jeremy S. McChesney of Hanley Investment Group represented the seller in the sale of a 8,000-square-foot single-tenant absolute NNN freestanding building O’Reilly Auto Parts at 3232 Foothill Boulevard in Oakland, Calif. The purchase price was $2,250,000, representing a 6.40% cap rate.

Present Value Properties Negotiates Lease for Menchie's Frozen Yogurt in Belmont, Calif.
Britt Nelson of Present Value Properties, Inc. negotiated a 5-year lease on behalf of self-service yogurt chain Menchie's Frozen Yogurt franchisee for 1,234 square feet at the Belmont Village Shopping Center located at 1200 El Camino Real in Belmont, Calif. Menchie's is expected to open in fall 2012, and will join tenants Safeway, Peet’s Coffee, AT&T, Game Stop, Toto’s Pizza and Supercuts at the Belmont Village Shopping Center.

Hanley Investment Group’s Urban Retail Division Sells Retail Building on South Lake Avenue in Pasadena Shopping District
Carlos J. Lopez of Hanley Investment (HI) Urban Retail Advisors represented the seller in the purchase of the 10,583 SF retail building located along Pasadena’s renowned South Lake Avenue Retail District at 320 S. Lake Avenue. The purchase price was not disclosed.

LUCESCU REALTY Announces Sale of Lake Pleasant Pavilion Shopping Center in Phoenix Metro for $41.75 Million
LUCESCU REALTY negotiated the sale of Lake Pleasant Pavilion Shopping Center in Peoria, Arizona for $41.75 million. LUCESCU REALTY exclusively represented the interests of the seller, Kornwasser Shopping Center Properties, a private development firm, headquartered in Los Angeles, and procured the buyer, Excel Trust in San Diego. This is Excel’s second acquisition in the Valley. Earlier this year the Company acquired Scottsdale Promenade for $166 million in a deal that was also brokered by LUCESCU REALTY.

Hanley Investment Group Launches HIG NNN Specializing in Sale of Single-Tenant Net Lease Properties
Eric P. Wohl and Edward B. Hanley of Hanley Investment Group have launched HIG NNN, a new division that specializes in the sale and advisory of single-tenant net lease properties across the U.S.

Hanley Investment Group Hires Jonathan Selznick as Vice President
Jonathan Selznick has joined Hanley Investment Group as vice president. Selznick brings to the company over 20 years of experience in senior sales management positions throughout his career and was most recently a broker with Pacific Commercial Investments in Irvine, Calif., where he advised clients on the acquisition and disposition of retail investment properties.

Hodgdon Group Completes 13th Retail Project for Ashley Furniture HomeStore in Laguna Hills and Starts Tenant Improvements for Total Wine & More
Hodgdon Group has completed construction on the conversion of the Circuit City building in Laguna Hills, Calif., for the grand opening of an Ashley Furniture HomeStore. The former Circuit City building, situated at 24001 El Toro Road, was renovated and expanded to make way for a fully-remodeled 51,000-square-foot retail building, which includes the new Ashley Furniture HomeStore plus Total Wine & More. A Chick-fil-A restaurant with a drive-thru that will be located on an outparcel.

Hanley Investment Group Sells Two Single-Tenant Walgreens Totaling Over $13 Million
Hanley Investment Group Real Estate Advisors negotiated the sale of two single-tenant Walgreens for a total consideration of more than $13 million. The properties were located in Downey, Calif. and Tucson, Arizona.

Present Value Properties Adds Annette Kolb as Director of Real Estate
Present Value Properties has named Annette Kolb as Director of Real Estate. Kolb will be responsible for the real estate needs of national chain retailers including Pizza Hut, Long John Silver and Jack in the Box franchisees located in Phoenix, Dallas and Missouri; and will handle lease extensions/renegotiations, new locations. She will be based in Phoenix, Ariz.

Hanley Investment Group Sells Single-Tenant NNN Leased Restaurant Investment in Pico Rivera, Calif. for $1.4 Million
Kevin T. Fryman of Hanley Investment Group Real Estate Advisors represented the seller in the sale of a single-tenant NNN leased investment, La Barca Restaurantes, a 3,664 sq. ft. restaurant in Pico Rivera, Calif., offering authentic, fresh-made Mexican food. The purchase price was $1,400,000, which represented a cap rate of 6.50%. The tenant has 7 years remaining on the lease.

Sassy Scrubs Announces the Addition of a Chef’s Toque Hat Their New Product Line
Scrubs manufacturer Sassy Scrubs announced the release of the newest item in their new “Chef & Home Cooking” line. The company’s new Chef’s Toque Hat brings the company’s custom-made scrub products out of the doctor and dentist office, and into the kitchen.

Personalized Stationery Company, Giftsin24.com, Celebrates 4th Quarter With A 40% Increase
Personalized stationery company, Giftsin24.com, announces that it celebrated an excellent 4th quarter with a 40% increase. The company attributes this increase partly to the personalized notepads that it sold on its clearance section.

Simon’s Hot Dogs Second Anniversary
This year Simon’s Hot Dogs is celebrating his second anniversary. They will offer a special menu just for that day for 5 bucks: Meatballs in a fresh steamy bun with mozzarella cheese and potato chips or dill pickles on the side or any other gourmet Hot Dog.

Hanley Investment Group Concludes 4th Quarter 2011 with Burst of Closings; More Closings to Follow in 2012
Hanley Investment Group closed out 2011 with the sale of 40 properties totaling over $225 million and more than 1.5 million square feet. With just a few weeks into 2012, Hanley Investment Group already has a combined total in excess of $200 million in escrow and listings, plus a bevy of buyer requirements to fill.

Present Value Properties Names Shannon Labowitz-Coleman as Associate Broker
Present Value Properties has named Shannon Labowitz-Coleman as Associate Broker. Labowitz-Coleman will be responsible for managing and sourcing new retailer and landlord representation assignments. She is the daughter of retail real estate industry veterans Bernie and Marcia Labowitz and has more than 20 years of industry experience.