REAL ESTATE

Red Robin swoops into Peoria, Ill.

BY Michael Fickes

Greenwood Village, Colo. — Red Robin Gourmet Burgers will open its first location in Peoria, Ill., on Sept. 2. To help celebrate the grand opening, Red Robin will donate the new restaurant’s sales of Freckled Lemonade for the first week of operations to Alex’s Lemonade Stand Foundation, a non-profit organization dedicated to finding cures for all kids with cancer.

There are currently 480 Red Robin locations across the U.S. and Canada, including341 company-owned Red robin restaurants and five Red Robin’s Burger Works locations, plus 134 Red robin restaurants operating under franchise agreements.

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REAL ESTATE

Phillips Edison buys grocery-anchored center

BY Michael Fickes

Cincinnati — Phillips Edison-ARC Shopping Center REIT has acquired Paradise Crossing, a 67,470-sq.-ft. shopping center anchored by a Publix grocery store.

Located in Lithia Springs, Ga., a suburb of Atlanta, Paradise Crossing is 93.7% occupied. When combined with the Publix lease, 64% of the rents for the center derive from national tenants.

The acquisition brings the REIT’s portfolio to 50 grocery-anchored properties, with an aggregate portfolio purchase price of approximately $729.6 million.

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REAL ESTATE

Habit Burger Grill to open sixth Arizona location

BY Michael Fickes

Phoenix — The Habit Burger Grill is opening its sixth Arizona location in Scottsdale in the Promenade at Scottsdale Road and Frank Lloyd Wright.

The Irvine, Calif.-based restaurant also operates more than 60 locations in California and two in Utah.

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