Real Estate Blog
Cheesecake Factory’s departure from Boulder’s Pearl Street could signal changing restaurant industry
Sharp rent increases and rising costs for a diminishing pool of labor have restaurateurs along Boulder’s Pearl Street scrambling to evolve and remain profitable.
Similar challenges are facing eateries in the Denver-metro area and along the Front Range.
The news that The Cheesecake Factory will be leaving its Pearl Street location at the end of the year, after nearly 20 years in operation, is the latest sign of the coming change.
Although Sean Maher, Downtown Boulder Partnership CEO, said The Cheesecake Factory’s decision to leave was more of a result of the Pearl Street location no longer fitting its businesses model of operating large restaurants in suburban locations, the rising costs of rent and labor, as well as an ever-increasing base of competition, certainly contributed.
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Sperry Van Ness Clark Commercial rebrands as Clark Realty joins Locations
Sperry Van Ness/Clark Commercial Group on Hawaii’s Big Island rebranded this week as SVN | GO Commercial following Clark Realty Corp.’s acquisition by Locations LLC.
Clark Realty founder Putman “Putty” Clark and Greg Ogin founded Clark Commercial Group in 1996. Three years ago, the Kailua-Kona-based commercial real estate firm became a Sperry Van Ness franchise.
Clark died a year later, and in September, Clark Realty announced it was being acquired by Honolulu-based Locations.
Both changes…
Maui Land & Pineapple reports Q3 loss of $1.6M
Maui Land & Pineapple Inc. reported a net loss of $1.6 million, or 9 cents per share, for the third quarter, compared to a net loss of $500,000, or 3 cents per share, for the same quarter last year.
Maui Land & Pineapple (NYSE: MLP) reported total operating revenue of $2.8 million for the quarter, unchanged from a year ago. The net loss for the quarter included a loss of $1.48 million for pensions and other retirement costs, compared to a loss of $243,000 for the same expense in 2017.
The company,…
McCraney sells Palm Beach warehouses for $26M
McCraney Property Co. sold three warehouse distribution buildings in Palm Beach County for $25.8 million, according to Cushman & Wakefield.
Boston-based Cabot Properties bought a combined 173,812 square feet of warehouses at 2211 Vista Parkway, 2213 Vista Parkway and 6935–6965 Vista Parkway North near West Palm Beach. The price equated to $148 per square foot.
The sale was brokered by Cushman & Wakefield’s Christopher Thomson, Chris Metzger, Richard F. Etner Jr., Matthew G. McAllister, Mike…
Microsoft’s Moffett Park office space is up for lease as tech giant expands Mountain View campus
The news of the Sunnyvale office being up for lease is an indication that Microsoft may be planning to consolidate its Bay Area footprint when it opens its new Mountain View campus in late 2019 or 2020.
More than $30 million in self-storage properties sold
Three local self-storage properties have passed to new owners in recent weeks, including one to a company with a name with local origins.
Microsoft and Seattle Genetics buildings are part of a big Bothell sale
The 17-building property is essentially full with medical device manufacturing, aerospace and telecomm companies also operating there.
Rolling Hills mansion sells for $31 million under asking price
A Spanish-style, 51,000-square-foot mansion in Rolling Hills, California, has been sold for $22.4 million, five years after its owner was unable to sell it at the listing price of $53 million.
The ocean-view home, known as Hacienda de la Paz, sits on 7.5 acres at the crest of Palos Verdes Peninsula and features nine bedrooms and 25 bathrooms.It is the 36th largest home ever built in the United States and the second largest home ever built in Los Angeles, according to listing agents.
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Jonathan Coon’s Lake Austin development wins final zoning approval at City Hall
Development plans for a picturesque lakefront tract in West Austin cleared Austin City Council this week.
Council approved the rezoning of a 144.8-acre Lake Austin tract located near the Pennybacker Bridge as a planned unit development. Plans for what’s known as the Camelback PUD call for offices, homes, a restaurant, parkland and open space.
The ordinance was approved on second and third readings Thursday night, meaning the planned unit development rezoning got final Council approval. It was…
North Loop apartment building sells for $50 million
An entity related to Chicago-based TH Real Estate has paid $49.95 million for the Variant apartments in Minneapolis' North Loop neighborhood.