REAL ESTATE

Le Coq Rico restaurant enters U.S. market in Manhattan

BY Michael Fickes

Montmartre, France — Le Coq Rico, a popular Montmartre, France, restaurant has signed into its first location in the United States on 20th Street between Park Avenue South and Broadway in Manhattan’s Flatiron District. The space includes 3,000 sq. ft. on the ground floor and 1,800 sq. ft. on the lower level.

Winick realty Group represented landlord Walter Samuels in the long-term lease transaction. Newmark Grubb Knight Frank represented the restaurant.

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REAL ESTATE

RMC will lease Sanibel Beach Place in Fort Myers, Fla.

BY Michael Fickes

Fort Myers, Fla. — Sanibel Beach Place, a 72,886-sq.-ft. Publix-anchored shopping center in Fort Myers, Fla., has selected RMC Property Group as the property’s exclusive leasing agent.

Global Realty and Management owns the property.

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REAL ESTATE

Burger 21 expands to Phoenix

BY Michael Fickes

Tampa, Fla. — Burger 21 has announced plans to expand in the Phoenix, market with franchise developments. The fast-casual restaurant is currently developing two Arizona locations in Scottsdale and Chandler. Both will open later this year. To date, Burger 21 has 12 open locations and 18 franchised restaurants in development across the country.

Burger 21 is seeking single- and multi-unit operators with restaurant experience to join its upscale fast casual dining concept. Franchisee candidates should have a minimum net worth of $500,000 and liquid assets of at least $200,000 per unit.

Burger 21 plans to develop through both single-unit agreements and area development agreements. Depending on the real estate site selected, franchisees can expect the total investment for one restaurant to be approximately $416,133 – $933,895. The initial franchise fee is $40,000; however, reduced franchise fees apply for Area Development Agreements of four or more units.

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