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Posts Tagged ‘Hospitality Properties’

The Prakas Group, Inc. Brokers Sale For Faison-Grove Square, LLC in Delray Beach, FL

Wednesday, January 27th, 2010

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DELRAY BEACH, FL Athan “Tom” Prakas,
president/broker of The Prakas Group, Inc., a full service real estate
brokerage specializing in commercial transactions, restaurants and
hospitality properties, has announced the completion of a sale in
recent activity in Palm Beach County.

A. Tom Prakas was exclusive broker for the following transaction:

*290 East Atlantic, LLC has purchased a 10,000 SF retail space located at 290 E. Atlantic Blvd., Delray Beach, FL as an investment property. The sale is valued at $4,094,700. The Prakas Group, Inc. represented both the buyer and the seller, Faison-Grove Square, LLC, a Charlotte, NC based company.

“This is the premier retail block in Delray Beach and includes two new hot restaurants, Cugini Grille and Vic & Angelo’s Coal Oven Pizza. It is second to none in Palm Beach County,” said Tom Prakas.

The Prakas Group, established in 2000, is on track to close over $300 million in sales over a six-year period. Headquartered at 705 East Palmetto Park Road in Boca Raton, FL, The Prakas Group provides brokerage services for restaurant, nightclub and commercial properties throughout Palm Beach, Broward and Dade counties, and recently expanded into Orlando with an office at 7380 Sand Lake Center to cover the booming Central Florida
marketplace. Principals of The Prakas Group add depth to the firm’s
brokerage services with over 200 years of combined experience in the
restaurant/nightclub industry as owner/operators. Clients of The Prakas
Group include Taverna Opa, Buckhead Life Restaurant Group, Gusto’s
Grill & Bar, Burton Handelsman, MDN Properties, Rodney Mayo, Tarpon
Bend Restaurants, Gotham City, Dave Manero Restaurants, and Mama Mia’s,
just to name a few. For more information, contact The Prakas Group at
(561) 368-0003, or visit the company’s website at www.prakasgroup.com.

 

the prakas group, inc. brokers sale for faison-grove square, llc in delray beach, fl

Originally posted 2007-06-14 00:00:00. Republished by Blog Post Promoter

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Prakas Group, Inc. Named Exclusive Broker for Anthony’s Coal Fired Pizza Florida Expansion

Wednesday, January 27th, 2010

 - For The Prakas Group, Inc., Boca Raton WordWork Diane Diamantis, 561/487-9526 Athan “Tom” Prakas, president/broker of The Prakas Group, Inc., a full service commercial real estate brokerage firm specializing in restaurants and hospitality properties, has announced the firm has been named exclusive Florida broker for Anthony’s Coal Fired Pizza and their expansion into the southeastern region of the United States.  Prakas and Randy O’Donnell, franchise restaurant sales and tenant representation specialist, will represent the restaurant in its search for new sites.


Anthony’s Coal Fired Pizza, with headquarters in Aventura, FL, presently has locations in Aventura, Fort Lauderdale, Pompano Beach, Weston, Plantation, Palm Beach Gardens and Coral Springs, FL. Anthony Bruno, founder of famed Anthony’s Runway 84 and Anthony’s Coal Fired Pizza, along with partners football great Dan Marino and Ben Novello, former president of Outback Steakhouse, plan to open 12-14 additional locations in the next 12 months including three that were recently brokered by The Prakas Group in Delray Beach and Boca Raton, and Pembroke Pines. Tom Prakas says, “We’re excited to represent Anthony’s on an exclusive basis and to help them grow in South Florida. After procuring the sites in the tri-county area, we’ll expand to the markets of Naples/Bonita Springs, Stuart and Martin County, Orlando and Tampa over the next few years.”

Anthony’s Coal Fired Pizza’s unique concept includes using eight-hundred degree coal-burning ovens, which cooks pizza in just four minutes, giving the pizza a “well-done” flavor, thus the chain’s slogan, “Our Pizza is Well Done.”

Tom Prakas was responsible for the following recent lease transactions for two additional Anthony’s Coal Fired Pizzas:

Delray Beach, FL - 4,000 SF lease of retail space from property owner Burt Handelsman at 115 NE 6th Ave. (Federal Highway), Delray Beach, FL. Mr. Prakas represented the lessee. The lessor represented themselves. December 1, 2007 is the estimated occupancy date. The restaurant lease is valued at $850,000.

Boca Raton, FL - 3,000 SF lease of retail space from property owner Woolbright Development within the newly remodeled Shops at Boca Grove located at 21609 Powerline Rd., Boca Raton, FL. Mr. Prakas represented the lessee. The lessor represented themselves. Estimated occupancy is December 1, 2007. The lease is valued at $900,000.

Randy O’Donnell handled the lease for a third Anthony’s location in Pembroke Pines:

Pembroke Pines, FL - 2,805 SF lease of retail space from owner Pembroke Lakes Square, LCC at Pembroke Lakes Square retail center, 11037 Pines Boulevard, Pembroke Pines, FL. Mr. O’Donnell represented the lessee. The lessor was represented by Joe Carosella, Retail Property Group, Inc. Estimated occupancy is summer of 2008. The lease is valued at $1.25 million.

“Anthony’s will thrive in these three superb locations,” says O’Donnell. “The downtown Delray site has great visibility just off Atlantic Avenue and is surrounded by shops and restaurants. In Boca Raton, the restaurant will benefit from a centrally located retail center with popular anchors that help draw additional traffic to the site.” O’Donnell continues, “Pembroke Pines has become one of the most heavily populated areas of Broward County. The area has a well-balanced mix of retail, office and residential. The new Anthony’s site is perfectly situated in a high visibility area with great traffic flow…at the `Main and Main’ of the Pembroke Pines area.”

The Prakas Group, Inc., established in 2000, provides brokerage services for restaurant, nightclub and commercial properties throughout all of Florida’s metropolitan areas and strategically located properties throughout the country. Other clients of The Prakas Group include The Falcone Group, Boca Tanning Club, Danny DeVito of DeVito’s South Beach, Lake Buena Vista Resort Village and Spa, David Manero Restaurants, Johnny Rockets, Rodney Mayo, Tarpon Bend Restaurants, Gotham City, and Mama Mia’s, just to name a few.

The company is located at 705 East Palmetto Park Road, Boca Raton, FL, and at 7380 Sand Lake in Orlando. For more information, contact The Prakas Group at (561) 368-0003, or visit the company’s website at www.prakasgroup.com.

Closes Three Additional Locations in Delray Beach, Boca Raton &
Pembroke Pines, FL

prakas group, inc. named exclusive broker for anthony's coal fired pizza florida expansion

Originally posted 2007-10-30 00:00:00. Republished by Blog Post Promoter

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Two Liberty Trolls for a Restaurateur

Wednesday, January 27th, 2010

By
Merita Thomas

PHILADELPHIA-The Boca Raton, FL-based Falcone Group,
which is in the process of converting the top 20 floors of the Two Liberty Place
office tower into approximately 122 residential condo units, has cast a wide
net to bring a new restaurant to the building. It has enlisted the Prakas Group
Inc. to market 10,000 sf
on the 37th floor of the building at 1601 Chestnut St. for sale or long-term lease to a restaurateur.

The space is located between 36 lower stories of class A
office space and the 20 stories of residences above. Depending on the design
and build-out, the space could seat about 275.

Prakas, which has offices in Boca Raton and Orlando,
specializes in commercial, restaurant and hospitality properties. Tom Prakas,
president and broker, tells GlobeSt.com, “the asking selling price is In
the range of $650 per sf, or about $6.5 million, and the asking rent rate is in
the area of $65 per sf. There could be concessions. We want a star, and the
combination of chef and operator will seal the deal.

“We’re looking for something a little out of the
ordinary, but top-rung, like the Stephen Starr and Mark Vetri
caliber,” Prakas says, referring to two of the city’s upscale
restaurateurs. Prakas says he is in talks with these and other locals as well as
others “all over the country. Philadelphia is a foodie city with great
restaurants; it’s probably only behind New York and Las Vegas in that respect.

“I don’t want to say we’d rule out a chain, but it
wouldn’t be an Outback or anything similar, and they wouldn’t want this either,”
Prakas continues. Among those who have shown interest are people from
Austin, TX; Florida, Las Vegas and the Atlanta-based Buckhead Life Restaurant
Group, which has expanded its Chops Lobster Bar concept to Florida. Prakas
declines to identify others.

The restaurant will have valet parking and be served by
its own high-speed elevator from the ground-floor lobby. It will be open to the
public, but is also seen as an amenity to the residences, which will get
priority seating and room service.

Falcone acquired the building in joint venture with
Miami-based Americas Capital Partners from San Francisco-based Shorenstein in
the summer of 2005. According to public records, it paid $170 million at a time
when the 58-story building suffered office vacancy of nearly 50%.

As with the Residences at Two Liberty Place, the view is
seen as a primary drawing card for the restaurant, and location is not far behind.
At 1650 Market St., it is one of two office towers built in 1989 that quickly
became the top trophies of the Center City office market. One- and two-bedroom
residences are being marketed at between $2 million and $4 million, although a
one-bedroom unit is listed online at $815,000. Asking price for the penthouse
is $15 million.

 

two liberty trolls for a restaurateur

Originally posted 2007-07-18 00:00:00. Republished by Blog Post Promoter

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THE PRAKAS GROUP, Inc. SELECTED AS EXCLUSIVE BROKER FOR he Shoppes @ Nu River Landing

Wednesday, January 27th, 2010

FORT LAUDERDALE, PL - Athan “Tom” Prakas, president/broker of The Prakas Group, Inc., a full service commercial real estate brokerage specializing in commercial transactions, restaurants gad hospitality properties, has announced that the firm lias been selected by developer Jeffrey Lax as exclusive broker to represent The Shoppes (a), Nu River Landing,- Tlie Shoppes @ Nu River Landing is the commercial component of the newly constructed Nu River Landing Condominium complex located at 511 SE 5th Ave. in downtown Fort Lauderdale. Mr. Prakas and Commercial Specialist Alan Macaulay have the exclusive listing for sales and leasing.

The Shoppes @ Nu River Landing consists of 25,334 SF of first and second floor retail, office, and restaurant space, all facing the New River. The total available space has been subdivided into five smaller spaces ranging from 2,487 SF to 8,571 SF. These spaces can be combined (maximum contiguous 14,618 SF) or further subdivided to accommodate specific needs. Open parking spaces are available as well as extensive valet parking. Additionally, 20 city-owned deep-water boat slips are available for lease.

“The central location of this site, right in the middle of the city known as ‘the boat capital of the world,’ makes this an ideal office location for maritime related business like yacht charters, brokers, surveyors, and marine insurance agents,” says Mr. Prakas. “In addition, other small businesses that could service the condominium residents would do nicely, including a law office, art gallery, and perhaps a waterside restaurant,” says Mr. Prakas.

Nu River Landing Condominiums is a 25-story, luxury residential complex consisting of 409 one-, two-, and three-bedroom units. The residential complex is completely sold out at pre-construction sale prices of $300,000-1800,000.

The Prakas Group, established in 2000, is on track to close over S300 million in sales over a six-year period. Headquartered at 705 East Palmetto Park Road in Boca Raton, FL, The Prakas Group provides brokerage services for restaurant, nightclub and commercial properties throughout Palm Beach, Broward and Dade counties, and recently expanded into Orlando with an office at 7380 Sand Lake Center to cover the booming Central Florida marketplace. Principals of The Prakas Group add depth to the firm’s brokerage services with over 200 years of combined experience in the restaurant/nightclub industry as owner/operators. Clients of The Prakas Group include Taverna Opa, Buckhead Life Restaurant Group, Gusto’s Grill & Bar, Burton Handelsman, MDN Properties, Rodney Mayo, Tarpon Bend Restaurants, Gotham City, Dave Manero Restaurants, and Mama Mia’s, just to name a few. For more information, contact The Prakas Group at (561) 368-0003, or visit the company’s website at PrakasGroup.com.

the prakas group, inc. selected as exclusive broker for he shoppes @ nu river landing

Originally posted 2006-10-11 00:00:00. Republished by Blog Post Promoter

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THE PRAKAS GROUP, INC. REPORTS COMMERCIAL SALE, BUSINESS SALE AND ONE LEASE TRANSACTION IN RECENT PALM BEACH COUNTY COMMERCIAL ACTIVITY

Wednesday, January 27th, 2010

DELRAY BEACH,
FL Athan “Tom” Prakas, president/broker of
The Prakas Group, Inc., a full service real estate brokerage specializing in
commercial transactions, business brokerage, restaurants and hospitality
properties, has reported the completion of a property sale, business sale and
one lease transaction in recent activity in Palm Beach County.

Christian Prakas, restaurant/nightclub
specialist, was exclusive broker for the following three
transactions:

*Select
Investment Properties has purchased a 2,800 SF building located at
19-23 SE 5th
Avenue, Delray Beach, FL. The building is presently 75% leased
including an insurance company and BluIce
Lounge, a new martini lounge. The sale is valued at $1,250,000. The Prakas
Group, Inc. represented both the buyer and the sellers, Joseph Peraino and Frank
Carucci of Joe’s Pub Corp.

* Khoury Synergy has purchased the 1,500 SF BluIce Lounge located at 19 SE 5th Avenue,
Delray Beach, FL. BluIce Lounge is a chic lounge serving
Mediterranean themed dishes and crepes along with a full liquor bar. The sale is
valued at $175,000. The Prakas Group, Inc. represented the buyer as well as the
seller, Taylor Smith of On The Rocks.

According to Christian Prakas, “This is an
excellent location in Delray
Beach, right on the corner of Atlantic Avenue and
Federal
Highway. It’s a treasure-trove for any business
seeking maximum exposure on one of the hottest strips in Palm Beach County.”

*Boca Tanning Club Deerfield, Inc. has leased 1,700 SF of retail space for Boca Tanning Club, an upscale tanning
salon, located at 215 N. Federal
Highway, Boca Raton, FL. The company has been in business for
five years and has three other Florida
locations including one in Boca Raton, Fort Lauderdale, and West Palm Beach. The deal is valued at
$215,000. The Prakas Group, Inc. is exclusive broker for Boca Tanning Club for
all of South Florida. The Prakas Group, Inc.
represented the lessee. The lessor, Investments Limited, represented
themselves.

The Prakas Group, established in 2000, is on track
to close over $300 million in sales over a six-year period. Headquartered at
705 East Palmetto Park
Road in Boca Raton,
FL, The Prakas Group provides brokerage
services for restaurant, nightclub and commercial properties throughout
Palm Beach, Broward and Dade counties, and
Orlando.
Principals of The Prakas Group add depth to the firm’s brokerage services with
over 200 years of combined experience in the restaurant/nightclub industry as
owner/operators. Clients of The Prakas Group include Taverna Opa, Buckhead Life
Restaurant Group, Gusto’s Grill & Bar, Burton Handelsman, MDN Properties,
Rodney Mayo, Tarpon Bend Restaurants, Gotham City, Dave Manero Restaurants, and
Mama Mia’s, just to name a few. For more information, contact The Prakas Group
at (561) 368-0003, or visit the company’s website at www.prakasgroup.com.

the prakas group, inc. reports commercial sale, business sale and one lease transaction in recent palm beach county commercial activity

Originally posted 2007-07-17 00:00:00. Republished by Blog Post Promoter

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The Prakas Group, Inc. Closes Restaurant Sale

Wednesday, January 27th, 2010

 FORT LAUDERDALE, FL  Athan “Tom” Prakas, president/broker of The Prakas Group, Inc., a full service real estate brokerage specializing in commercial transactions, restaurants and hospitality properties, has announced the completion of a sale in recent activity in Broward County.

A. Tom Prakas was exclusive broker for the following transaction:

*Jeff’s Beach House Grille, Inc. has purchased a 4,000 SF restaurant located at 4140 N. Federal Highway, Fort Lauderdale, FL. Jeff’s Beach House Grille is a sports bar and drafthouse, offering light fare and sandwiches. The sale is valued at $325,000. The Prakas Group, Inc. represented both the buyer and the seller, CHAO Restaurants 4140, LLC.

“Jeff’s Beach House Grille’s proximity to downtown Fort Lauderdale, coupled with its high visibility on Federal Highway, is an attractive location for customer volume,” said Tom Prakas.

The Prakas Group, established in 2000, is on track to close over $300 million in sales over a six-year period. Headquartered at 705 East Palmetto Park
Road in Boca Raton, FL, The Prakas Group provides brokerage services for restaurant, nightclub and commercial properties throughout Palm Beach, Broward and Dade counties, and recently expanded into Orlando with an office at 7380 Sand Lake Center to cover the booming Central Florida
marketplace. Principals of The Prakas Group add depth to the firm’s brokerage services with over 200 years of combined experience in the restaurant/nightclub industry as owner/operators. Clients of The Prakas Group include Taverna Opa, Buckhead Life Restaurant Group, Gusto’s Grill & Bar, Burton Handelsman, MDN Properties, Rodney Mayo, Tarpon Bend Restaurants, Gotham City, Dave Manero Restaurants, and Mama Mia’s, just to name a few. For more information, contact The Prakas Group at (561) 368-0003, or visit the company’s website at www.prakasgroup.com.

the prakas group, inc. closes restaurant sale

Originally posted 2007-07-17 00:00:00. Republished by Blog Post Promoter

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