Fast Casual Restaurant

Santa Monica, Calif. -- Beverly Hills, Calif.-based Maxxam Enterprises said that Steak ‘n Shake is entering the California market with a new restaurant on Third Street Promenade in Santa Monica.

The 4,300-sq.-ft. space is located near the intersection of the Promenade and Broadway, across the street from Santa Monica Place, the new upscale shopping mall in Downtown Santa Monica.

Steak ‘n Shake said it plans for a grand opening later this year, after completing tenant improvements to its space.

 

Mansfield, Texas -- Irving, Texas-based WindStar Properties said that Jersey Mike’s Subs will open a new restaurant at Mansfield Crossing Shopping Center, located in Mansfield, Texas.

The 1,575-sq.-ft. unit is part of an aggressive expansion push for the Jersey Shore-based sandwich chain, which opened 92 restaurants in 2012.

Huntington Beach, Calif. -- Bruxie announced that it opened its fifth waffle restaurant, with a new unit in Southern California in Huntington Beach on April 23.

Bruxie Gourmet Waffles opened at The Strand on 5th, a collection of shops and restaurants, boutique hotel and office space. Other key retail tenants to the coastal attraction include RA Sushi, Forever 21, Skechers, Active Ride, Rip Curl, Merrilee’s Swimwear, Johnny Rockets, ANGL, and CVS Pharmacy.
 

Washington, D.C. -- Douglas Development announced that it has purchased a new mixed-use property in Chinatown DC. The 10,000-sq.-ft. building includes three levels of office space and 4,000 sq. ft. of street-level retail.
     
Douglas Development acquired the property from Washington, D.C.-based law firm Wingfield & Ginsburg, which has since leased back all of the office space from Douglas Development.
      

Pinecrest, Fla. -- Terranova Corp. said that it has signed a deal with Spanish restaurant chain 100 Montaditos to open a unit at Suniland Shopping Center, in Pinecrest, Fla.

100 Montaditos has signed a lease for 2,500 sq. ft. in Suniland, where it is projected to open in fourth quarter 2013. It is the third deal Terranova has transacted with 100 Montaditos, which it has signed in Coral Gables’ Miracle Mile and in downtown Miami’s Vizcayne, a condo tower with ground-floor retail.
    

St. Louis -- Panera Bread Company on Tuesday said that chairman and co-CEO Ron Shaich will once again serve as the company's sole CEO starting on Aug. 1. Bill Moreton, who currently serves as co-CEO and president, plans to transition to an executive vice chairman role in order to spend more time on a family matter.

Moreton commented: "As a result of this family matter, I have found myself unable to travel and am now clear I will be challenged to fully execute my responsibilities as president and Co-CEO of Panera Bread.”

Oak Brook, Ill. -- McDonald's Corp. reported Friday that net income for the quarter ended March 31 rose about 1% to $1.27 billion, from $1.26 billion last year. Total revenue also rose 1%, to $6.6 billion from $6.5 billion.

Same-store sales dipped, however, impacted said McDonald’s by a tightened eating-out environment during the quarter.

At home, same-store sales dipped 1.2%.

Knoxville, Tenn. -- CHM said that its Northshore Town Center mixed-use property will add First Tennessee Bank and ORNL Federal Credit Union to its tenant roster.

The two financial institutions will join fast-casual pizza restaurant Uncle Maddio’s, scheduled to open its first Tennessee location at Northshore Town Center later this spring.

Cherry Hill, N.J. -- Philadelphia-based Pennsylvania Real Estate Investment Trust (PREIT) said that Crumbs Bake Shop recently opened its first area location at Cherry Hill Mall, in Cherry Hill, N.J.

The 200-sq.-ft. foot kiosk is a dessert supplement to major Cherry Hill Mall dining players such as Grand Lux Café, Bobby’s Burger Palace, California Pizza Kitchen, Maggiano’s Little Italy, Seasons 52, The Capital Grille, and Bahama Breeze.

Edgewater, N.J. -- North Plainfield, N.J.-based Levin Management Corp. said that Haven Riverfront Restaurant & Bar will open a 6,500-sq.-ft. location at Edgewater Harbor, in Edgewater, N.J.

The new restaurant, opening in June, becomes the latest eatery to join the dining component at the mixed-use development on Hudson County’s Gold Coast, according to Levin, the exclusive retail leasing agent for the property.