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REAL ESTATE

Grossman and Summit acquire Westport, Conn., retail building

BY Michael Fickes

Quincy, Mass. — The Grossman Cos. and Summit Development LLC have joined forces to acquire a 5,728-sq.-ft. retail building in Westport, Conn., for $2.7 million.

Located in one of Fairfield County’s most affluent towns, the building is adjacent to the Westport Metro North train station and offers easy access to an exit from Interstate 95.

Approximately 131,000 vehicles pass the building on I-95 every day, followed by another 14,000 vehicles on Route 33. Average annual household income in Westport is $170,000.

The acquisition is the fourth Grossman-Summit joint venture deal in the past 18 months. The partnership has invested almost $45 million in joint venture acquisitions since 2012.

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REAL ESTATE

Dickey’s to open three new Barbecue Pits this week

BY Michael Fickes

Dallas — Dickey’s Barbecue Restaurants will open three new Dickey’s Barbecue Pits this week. On April 2, the chain will open a restaurant in Colorado Springs, Colo., and on April 3, two more restaurants will open, one in Gulfport, Miss., and another in Stockton, Calif.

All told, the fast-casual family-friendly concept has expanded to more than 380 locations in 43 states and holds the title of the world’s largest barbecue franchise. This year, Technomic named Dickey’s the “Fastest-growing restaurant in the country. QSR Magazine has also named the restaurant the “Best Franchise Deal.”

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Second Johnny Rockets opens in Kuala Lumpur

BY Michael Fickes

Aliso Viejo, Calif. — AUM Hospitality has opened the second Johnny Rockets restaurant in Malaysia at Avenue K in Kuala Lumpur, a 360,000-sq.-ft. retail hub. The new Johnny Rockets is the 11th restaurant in the chain to open in Southeast Asia.

In addition to the two Malaysia, the chain operates six outlets in the Philippines and three in Indonesia.

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