Fast Casual Restaurant

Jacksonville, Fla. -- Regency Centers said Tuesday it has closed on the acquisition of Calhoun Commons, a 66,150-sq.-ft. neighborhood shopping center located in Minneapolis and anchored by Whole Foods Market.

The property was purchased in an off-market transaction on July 1 for $21 million from Calhoun Commons Shopping Center Limited Partnership, a subsidiary of Doran Cos. and the original developer of the property.

Tustin, Calif. -- Real estate brokerage firm Present Value Properties said Tuesday that Britt Nelson has joined the company as VP.

Previously founder and president of NewCity Development, Nelson was responsible for site selection, acquisition, and procurement of development projects. Other responsibilities included coordination of the overall development teams and municipal relations.

Nelson will be working with existing Present Value Properties' clients including Pizza Hut and Menchie’s Frozen Yogurt franchisees.

Brandon, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased restaurant space in Brandon, Fla., at Bloomingdale Square to Chipotle Mexican Grill.

Chipotle has leased 2,650 sq. ft., bringing the center to 96% leased. The tenant is slated to open for business in fall 2011.

The 267,736-sq.-ft. shopping center is anchored by a Walmart, Bealls and Publix Super Market alongside national retailers such as Dollar Tree, Hallmark, RadioShack and Bank of America.
 

Chicago -- Oakbrook Terrace, Ill.-based Mid-America Asset Management said that Chipotle Mexican Grill, along with Clearly Cares Dental, have recently signed leases at Elston Plaza in Chicago.

Denver-based Chipotle Mexican Grill, which leased 2,405 sq. ft., plans to open a restaurant in third quarter 2011. Clearly Cares Dental signed a lease for 1,500 sq. ft. with plans to open this summer.

Elston Plaza is a 91,713-sq.-ft. Jewel/Osco-anchored shopping center in northwest Chicago.
 

Neptune Beach, Fla. -- Jacksonville, Fla.-based Regency Centers said it has leased restaurant space in Neptune Beach, Fla., at Seminole Shoppes to Smashburger.

Smashburger has leased 2,100 sq. ft., bringing the center to 96% leased. The restaurant is slated to open for business in fall 2011 and is the first store location for the franchise chain in the Jacksonville area.

The 78,240-sq.-ft. shopping center is anchored by Publix Super Market.

Au Bon Pain is updating its brand experience with a new customer-centric design that gives the store a more distinct personality. It also makes the space easier to navigate, with the layout redesigned to speed service.

“We’re taking the customer experience to the next level,” said Sue Morelli, CEO for Au Bon Pain, which operates 318 locations in the United States and internationally. “The response we’ve been getting to our new prototype has validated our decision to accelerate our growth, including going to new markets nationally.”

Au Bon Pain is updating its brand experience with a new customer-centric design that gives the store a more distinct personality. It also makes the space easier to navigate, with the layout redesigned to speed service.

“We’re taking the customer experience to the next level,” said Sue Morelli, CEO for Au Bon Pain, which operates 318 locations in the United States and internationally. “The response we’ve been getting to our new prototype has validated our decision to accelerate our growth, including going to new markets nationally.”

New York City -- Chainstoreage.com columnist Jeff Green challenges the boon of the burgeoning burger concepts, posing the question: “Are burger joints here to stay or just a trendy restaurant theme that will overextend itself and “fall of the map” in a few years?

Check out Jeff’s latest column on the real estate community page: chainstoreage.com/article/burger-bonanza-rare-or-well-done

Like many of you, I just got back from RECon, and I’m still processing what I saw and heard. One thing that was interesting to me was the fact that it seemed like burger concepts were on everybody’s site plans, from In-N-Out Burger to Smashburger and Five Guys. If you like a good burger -- and, who doesn’t -- this is great news. If you are a developer or landlord though, I think you should proceed with some caution.