Morton’s steakhouse chain acquired by restaurant veteran
New York City — A Friday report by Reuters said that restaurant veteran Tilman Fertitta has added to his restaurant holdings by reaching a $117 million deal for Morton’s Restaurant Group Inc., which operates high-end steakhouses nationwide.
Fertitta, who expanded his stake from in Morton’s from the 5% he already held, has outlined plans to modernize the struggling chain.
This latest deal marks Fertitta’s second acquisition in two months, as in November he acquired seafood chain McCormick & Schmick’s.
The acquisitions add to Fertitta’s existing restaurant properties such as Bubba Gump Shrimp and Vic & Anthony’s. Fertitta holds these properties through Landry’s Inc, which also runs the Atlantic City casino Golden Nugget.
Chicago-based Morton’s, which generated about $300 million in sales last year, had previously announced it was considering strategic alternatives. The deal with Fertitta is expected to close in early February, according to the report.
Daiso opens eleventh Bay Area store
Alameda, Calif. — Japanese discounter Daiso has opened its eleventh Bay Area location – a pop-up store – at Alameda South Shore Center, a shopping center owned by Jamestown.
The new 1,400-sq.-ft. shop will open for an initial period of three months.
Jamestown provides temporary, vanilla-shelled space, for pop-up and other short-term tenants as part of its philosophy of creating opportunities for tenants with unique and time-sensitive requirements. The finished storefronts include new drywall and paint, as well as restrooms and utilities, to allow for immediate occupancy.
Earlier this year, Jamestown leased 15,535 sq. ft. of pop-up space at Alameda South Shore Center to Spirit Halloween for its holiday store. Spirit helped attract significant additional traffic to the property during the Halloween season, benefitting the center’s entire retail community.
“If we see people like our store, we will stay long-term and move into a bigger location in the mall,” Daiso California’s senior VP Yoshihide Murata said.
Callison acquires Barteluce Architects
New York City — Global architecture and design firm Callison announced Friday the acquisition of New York City-based Barteluce Architects & Associates.
This acquisition will grow Callison’s New York team to over 75 architects. Since Jan. 1, 2011, Callison has added more than 200 professionals to its global offices and the company said it plans to make more strategic acquisitions and investments in the future.
Key Barteluce clients include Burberry, Chanel, Cartier, Polo Ralph Lauren, Tiffany & Co., Wynn and other high-end luxury retail companies.