Prakas Group

Restaurant Leasing Declines in Most FL Regional Markets

admin — Wed, 27 Jan 2010 12:01:18 +0000

With the exception,
perhaps, of Central Florida, restaurant leasing in the states major
markets is waning as real and perceived economic weakness continues.

If
they arent shutting down altogether, single-owner and chain
restaurants are at least cutting back on their expansion plans, market
observers report.

South Florida

In general, the
market is slow. Since the middle of November and December, weve
witnessed a dramatic slowdown in sales and leasing, said Athan Tom Prakas, president and owner of Boca Raton-based The Prakas Group Inc., which specializes in restaurant and night club brokerage.

Prakas said the phenomenon is taking place for both chain restaurants and single-owner establishments.

It
seems like people are just being cautious, even if their business has
held up. Instead of pulling the trigger on another location, it seems
theyre taking a wait-and-see attitude. Its more of a precautionary
thing than a true problem in some cases, he said.

Prakas said he
believes real demand-side weakness is being experienced in mid-scale
restaurants and night clubs - and the situation is actually boosting
the prospects for quick-service eateries.

Were with operators
every day. One Boca Raton operator said he can see his expensive
appetizers and more expensive wines are not selling in this market like
they were a year ago. The average check per head is down. People are
more cautious on their purchases, he said.

People that would
have gone to a mid-scale to upper-scale restaurant are cutting back.
Theyre eating out at a lower price point.

Prakas said hes
cautiously optimistic about restaurant performance in the near future,
but challenges remain. Considering the credit markets, weakness in the
dollar and rising commodity prices, even if the volume of sales is the
same or better, the cost of doing business is much higher, he said.

Its really a total economic picture now for every industry. Its intertwined, he said.

Central Florida

In
contrast to South Florida, restaurant leasing in and around the tourism
capital of the world seems to be doing just fine, said John Crossman, president of full-service real estate firm Crossman & Company in Orlando.

Weve seen no slowdown in
that regard, particularly in The Villages, said Crossman, whose
company handles all retail leasing for what is now the largest
single-site residential real estate project in the United States. The
Villages spans more than 25,000 acres in Lake, Sumter and Marion
counties.

Crossman said Red Lobster recently signed a lease at
the development, where several restaurants have already opened this
year and more are expected in the next 90 days.

Crossman &
Company is a landlords representative handling about 5 msf in
Publix-anchored neighborhood shopping centers, town center projects,
open-air power centers and some middle-class centers. Crossman said
leasing volume in restaurant space can partly be attributed to
flexibility among their landlords.

Part of it has been that - as
a landlords representative - our clients are well-heeled. Theyll work
with good retailers to make deals happen, he said. For the product
were marketing, we still have significant interest.

Other factors include strong Orlando-area tourism and - at The Villages - a stable economy.

Last
year was the biggest year ever for Disney. The weak dollar has lots of
foreign tourists coming in. That has kept it strong, he said.

In
The Villages, the growth is from people who arent impacted as much by
the economic situation. They are retiring and have a good portfolio and
equity in their homes. A lot of people come with two cars. When they
trade one in on some golf carts, they spend a lot less money on gas.

Tampa Bay

Patrick
Berman, a retail property specialist who does both landlord and tenant
representation for Cushman & Wakefield in Tampa, said restaurant
leasing activity is down across the board.

Consumer confidence is the
key factor, Berman said. Low numbers have coincided with a drop in both
general and same-store sales, he said, and many retailers have scaled
back or frozen their expansion plans.

Berman said major
quick-service restaurants like Starbucks and Subway are still opening,
but at a slower pace. Moderate performers are in a holding pattern, and
weak performers are closing units, he said.

Rental rates paid by
restaurants are still in a healthy range, Berman said, but they are
down 10% from the peak in 3Q05. Add in a few incentives like free rent
and higher TI allowances, and the discount is closer to 15%, he said.

Berman
said he expects economic conditions to stop deteriorating and begin to
slowly gain ground in the third quarter, with appreciable gains in 2009.

Jacksonville

New
restaurant openings in Jacksonville are heavily influenced by where the
company is in its market development cycle, said Kate Clifford,
president, owner and broker at Strategic Sites/Clifford Commercial. The
company does tenant representation for several national brands
including Panera Bread, Dunkin Donuts, Jasons Deli and Hooters.

All of these groups are
in the market because they have a master plan. They are looking to
strategically identify locations all over the city. Panera is in almost
all of their must-have locations and in several of their secondary
areas, Clifford said.

But Panera and Starbucks have both stopped expansion in some of their tertiary markets, she said.

As
the residential slows down, some of these groups who had identified
sites in those submarkets are kind of pulling back. Theyre saying the
demographics they need to open successfully are not currently there,
she said.

Clifford said Dunkin Donuts is still on the hunt for
underserved locations with pent-up demand or for locations where
landlord incentives are available.

Some restaurant concepts are
returning to the Jacksonville market, Clifford said, including
Applebees, Johnny Carinos, Bennegans and Steak & Ale. But
activity among new concepts is down overall.

We clearly are
seeing fewer new concepts coming into the market, but I think thats
also a function of the fact there are fewer new projects out there,
she said.

Clifford said that new retail projects, if well
located, will always have an energy that sustains restaurant tenants.
Restaurants at the St. Johns Town Center mixed-use development, for
example, are performing well despite high rental rates, she said.

Originally posted 2008-06-18 00:00:00. Republished by Blog Post Promoter

Pete’s to Become Upscale Fish Market

admin — Wed, 27 Jan 2010 12:01:18 +0000

Athan “Tom” Prakas of The Prakas Group, Inc. has brought together two
savvy
restaurateurs in a deal that is forever
changing a 20-year Boca Raton dining institution. Prakas represented
Pete Boinis, owner and manager of the famed Pete’s Restaurant on Glades
Road, who engaged his firm to find a buyer. And find one he did. Prakas
created the link that brought high profile restaurateur Pano
Karatassos, Founder and CEO of Buckhead Life Restaurant Group to
purchase the Pete’s location, for a future fish market concept
restaurant.

Opening of the new restaurant is projected for February or March of 2008. The new fish market restaurant will keep the banquet rooms from Pete’s for catering and events, but the
interior will undergo a complete $3 to 4 million renovation.

“It is a superior location for a
restaurant,” says Prakas, “and Pano wished to complement his Chops
Lobster Bar presence in Boca with a second concept. The new
fish market restaurant will cater to a wide economic base …
families, singles, parties, business events, and tourists. Also, the restaurant
will print its menu twice daily to accommodate the freshest seafood
available … the fish are still flopping when they are cooked. Boca Raton is
now becoming a world class dining destination.”

Originally posted 2008-01-07 00:00:00. Republished by Blog Post Promoter

Firm to recruit staff in surging eatery market

admin — Wed, 27 Jan 2010 12:01:17 +0000

BOCA RATON It’s hard to find good help these days, especially in the hospitality business.

So after years of running a free referral business, restaurant broker Tom Prakas had an idea: Create a hospitality recruitment firm.

Working with Ken Spahn, an attorney and food critic, Prakas says Restaurant Placement Group will draw from their contacts in the restaurant industry.

Prakas said he gets many requests from chefs and managers wanting to know of eateries coming to the market. He also gets requests from restaurant owners needing staff.

The need for experienced staff is acute, especially with the dramatic increase in South Florida restaurants. Hiring skilled personnel “is probably the paramount problem in the industry,” Prakas said. “It’s hard to find talented, dedicated people to work. I have restaurateurs telling me that one of the reasons they can’t open for lunch is they can’t find enough dedicated workers to staff the place. It’s a real labor shortage.”

Plans are under way for other services, such as a restaurant operations consulting division.

Prakas said the business complements his existing brokerage, The Prakas Group, based in Boca Raton.

Originally posted 2007-04-03 00:00:00. Republished by Blog Post Promoter

Prakas Group of Boca closes deal on Hollywood grille

admin — Wed, 27 Jan 2010 12:01:17 +0000

FROM STAFF REPORTS Athan “Tom” Prakas, president/broker of The Prakas Group, Inc., a Boca Raton-based real estate brokerage specializing in commercial transactions, restaurants and hospitality properties, has announced the completion of a sale in recent activity in Broward County.

Elliot “Butch” Nanos, vice president of commercial sales, was responsible for the following sale transaction:

Dan Djurin has purchased Conine’s Clubhouse Grille, a 7,300 square foot restaurant in Hollywood. The restaurant is a full-menu sports bar that offers live entertainment (jazz and blues). Florida Marlin’s Jeff Conine opened the restaurant in 2005 as a high-end sports-themed restaurant featuring wall-to-wall plasma TVs. Conine’s Clubhouse Grille frequently hosts live TV sports shows. Estimated restaurant occupancy is 275 patrons.

The Prakas Group, inc. represented both the buyer and the seller, Howard Shiller.

Conine’s is a fun, popular restaurant for sports enthusiasts as well as those seeking great food, dring and entertainment,” said Prakas.

The Prakas Group, established in 2000, is on track to close more than $300 million in sales over a six-year period. It is headquartered at 705 East Palmetto Park Road in Boca Raton.

Originally posted 2007-04-03 00:00:00. Republished by Blog Post Promoter

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

admin — Wed, 27 Jan 2010 12:01:16 +0000

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.

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

THE PRAKAS GROUP, INC. CLOSES LEASE FOR TAVERNA OPA RESTAURANT IN CITY PLACE, WEST PALM BEACH

admin — Wed, 27 Jan 2010 12:01:16 +0000

WEST PALM 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 lease in recent activity.

Mr. James Layson, vice-president of operations, and A. Tom Prakas were exclusive brokers for the following transaction:

*Taverna City Place, LLC has signed a lease of 5,500 SF for a Taverna Opa restaurant within City Place at 110 Rosemary Ave., West Palm Beach, FL. The location is on the second floor of the former site of the FAO Schwartz Toy Store. Mr. Layson represented the tenant as well as the landlord, City Place Retail, The Related Group. Current Taverna Opa locations include South Beach/Miami, Hollywood, Fort Lauderdale, and Orlando in Florida and Las Vegas, Nevada, as well as Taverna Kyma in Boca Raton, Florida. The deal is valued at $3.2 million. The restaurant will seat 225 guests. According to Tom Prakas, the restaurant is expected to open before March 20, 2007.

“A high-profile location in City Place is the ideal location for Taverna Opa. The constant flow of shoppers, business people, and those seeking an exciting evening out will welcome Taverna Opa’s unique offerings including extraordinary Greek food and high energy entertainment,” said Mr. Prakas.

About Taverna Opa

Peter Tsialiamanis established the Taverna Opa concept in 1998. Taverna Opa offers an affordable family style or a la carte menu with an array of traditional Greek mezes (appetizers), entrees, desserts, and a full bar generously stocked with ouzo. The restaurant opens at 4 p.m. daily, and features nightly ethnic music and Greek belly dancers. Menus, locations and more may be found at the restaurant’s website at www.tavernaoparestaurant.com.

About The Prakas Group, Inc.

The Prakas Group, established in 2000, is on track to close over $300 million in sales over a six-year period. Located at 705 East Palmetto Park Road, Boca Raton, FL, and recently expanded into Orlando with an office at 7380 Sand Lake Center, The Prakas Group provides brokerage services for restaurant, nightclub and commercial properties throughout Palm Beach, Broward and Dade counties and Central Florida. 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, Danny DeVito’s Italian Restaurant, Gusto’s Grill & Bar, Burton Handelsman, Big Time Restaurant Group, MDN Properties, Rodney Mayo, Buckhead Life Group, Tarpon Bend Restaurants, Gotham City, 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.

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

Prakas Group Brokers Sale of Retail Block in Delray

admin — Wed, 27 Jan 2010 12:01:15 +0000

FROM STAFF REPORTS
Athan “Tom” Prakas, president broker of The Prakas Group, Inc., a 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.

Prakas was exclusive broker for the following transaction: 290 East Atlantic, LLC has purchased a 10,000 square foot retail space located at 290 E. Atlantic Ave., Delray Beach, 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, N.C. 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 Prakas. The Prakas Group, established
in 2000, is on track to close more than $300 million in sales over a six-year period. Headquartered at 705 East Palmetto Park Road in

Boca Raton, 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 there. 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, among others.

Originally posted 2007-05-16 00:00:00. Republished by Blog Post Promoter

Prakas Group - Two Storefront Delray deals

admin — Wed, 27 Jan 2010 12:01:15 +0000

Tom Prakas of The Prakas Group Inc. is smack in the middle of f’two storefront Delray deals hot enough to sizzle a sidewalk.

Faison & Associates sold 1,923 square feet at 250-258 E. Atlantic Ave. for $520 per square foot to an art dealer; 8,833 square feet at 270 and 290 E. Atlantic Ave. went for an only slightly less breathtaking $475 per square foot.

“I think we did set a new high for Atlantic Avenue,” says Prakas, who brokered the deal for all parties involved.

An unabashed fan of Atlantic his firm has handled real estate for 23 of the 26 restaurants on the avenue Prakas says the retail and restaurant mix there is a foot-traffic magnet: “It has a farther draw than any other street in Palm Beach County.”

Well, it drew him. Prakas has lived in the area for 18 years.

So does he get a break on the dinner bill from any of those 23 restaurants

“The problem is when I walk in, employees think it’s for sale. I just want to have lunch.”

Originally posted 2007-04-03 00:00:00. Republished by Blog Post Promoter

Ex-Rothstein attorneys in Boca forge own paths after scandal

admin — Wed, 27 Jan 2010 12:01:14 +0000

THE PALM BEACH POST

DATE: Monday, January 11, 2010

PAGE: 1C SECTION: LOCAL BUSINESS EDITION: FINAL

SOURCE: Alexandra Clough

EX-ROTHSTEIN ATTORNEYS IN

BOCAFORGE OWN PATHS AFTER SCANDAL

It’s a new year and a fresh start for some of the Palm Beach County lawyers who worked at the notorious Rothstein Rosenfeldt Adler law firm of Fort Lauderdale.

Take former Palm Beach County Circuit Court Judge William Berger. Along with County Commissioner Steven Abrams and attorney Peter Feaman, Berger was one of three lawyers who led Rothstein Rosenfeldt’s Boca Raton office as part of an expansion by the ambitious Rothstein firm. The expansion ended abruptly late last year when firm co-founder Scott Rothstein was found to have promulgated a $1 billion investment Ponzi scheme. (Rothstein now is in federal detention, charged with federal racketeering, money laundering and mail and wire fraud. Last week, his attorney indicated Rothstein would plead guilty on Jan. 27.)

Berger jumped from the bench to RRA in early 2008. But with the firm’s implosion, he resigned in mid-November. At the time, he also lashed out at Rothstein, calling him a “financial serial killer” for the damage he did, not just to investors but to firm employees.

Fast forward to today, and Berger is happily ensconced at the Boca Raton law firm of Weiss & Handler, which celebrates its 25th anniversary this year. What’s new is really old, because Berger used to work at the firm in the late 1990s. Berger kept in touch with his former colleagues, and he learned who his real friends were when the RRA scandal erupted: “Howard Weiss was probably the first person to call me when this whole matter broke, so I was appreciative of that,” Berger said.

These days, Berger said he’s very busy with a number of litigation matters, including divorce and personal injury cases. “I’m in court now more than when I was on the bench,” Berger joked.

As for his old law firm, Berger said he hasn’t been queried by federal investigators probing the firm’s wreckage: “No one has called me.” And although his anger at Rothstein has subsided, Berger says he’s “still amazed” that the Fort Lauderdale-based scam happened under everyone’s nose.

Weiss & Handler’s Henry Handler said he’s pleased to have a litigator as seasoned as Berger come aboard as a senior attorney. But Handler acknowledged there was some vetting prior to the decision to hire Berger, whose RRA title was shareholder but who did not actually own any firm shares. For instance, Handler said the firm was comfortable that Berger “did not participate in the extravagant bonuses that turned into (political) contributions,” as was the case with other RRA attorneys, Handler said. In fact, Handler added, “We don’t believe there is any kind of justifiable claim that Bill had any role in any untoward acts. … Bill is a terrific attorney and we have always found his dealings with people to be beyond reproach.”

Feaman, another of the former RRA lawyers in Boca Raton, has set up his own law firm in Boynton Beach. Feaman had been with RRA only a few months before the scandal. He joined RRA from Buffalo, N.Y.-based Hodgson Russ, which last year closed its Boca office, where Feaman worked. Feaman did not return a phone call seeking comment.

Meanwhile, Steven Abrams hasn’t yet hung his shingle at a new firm. Busy as he is as a member of the Palm Beach County Commission, Abrams last week said he has “plenty on his plate.” But he said he is talking to several law firms.

Along with the cool breezes coming ashore these days, there also is a refreshing change along Atlantic Avenue in Delray Beach: There are new restaurants opening that are not Italian.

In 2003, there were nearly two dozen Italian eateries in this trendy district, prompting some to speculate that the street should be renamed Via Atlantico. But today, “there is more variety and at lower price points,” said restaurant broker Tom Prakas. The Prakas Group has handled the bulk of the restaurant deals in downtown for the past few years. And despite the lingering recession, Prakas said downtown Delray still is where every operator wants to be: “I could put five to 10 restaurateurs on Atlantic Avenue,” he said, if he had the space.

New to the Avenue: Surf Sliders, by local restaurateur Jim Taube, recently opened on State Road A1A and Atlantic. Johnnie Brown’s, a casual American eatery, also recently opened in the old Elwood’s space. Dave Manero’s The Office, an American gastro-pub, opened quietly Friday and bills itself as a “neighborhood watering hole,” albeit with a notable chef, Mark Miletello, and a wide array of food choices. Meanwhile, Prakas handled the recent sale of the Cugini Grille, which is slated to be a new concept, possibly Mexican. And a French bistro has opened in the former Cold Stone Creamery space.

Delray Beach has grown in recent years as a prime retail and dining destination. From 2003 to 2008, retail sales volume increased by 49 percent, while food and beverage sales grew by 42 percent. Combined, additional sales volume totaled $88 million, according to Marjorie Ferrer of the Downtown Development Authority.

Going forward, city leaders hope to maintain those numbers. Delray Beach has the benefit not only of a festive streetscape but of an aggressive, citywide effort to promote downtown businesses and keep drawing in customers. Key to this program are a steady lineup of special events, including the revived Summer Nights on the Avenue series this summer. City officials encourage shops to stay open at night and support retailers by offering cooperative advertising programs.

Of note: Jim Taube, the restaurateur, recently sold his Bimini Twist eatery in suburban West Palm Beach, just west of Breakers West. The owner Jupiter resident Ralph Benfante, one of the restaurant’s best customers. Reminiscent of Victor Kiam in the 1980s, who liked Remington Electric Shaver so much he bought the company, Benfante said he’s been trying to buy Bimini Twist for years. But Taube had been a reluctant seller. Until now. “Since I was opening a new restaurant, I was receptive,” Taube said. “He made an offer and I said, ‘I’ll take it.’ ” (Taube wouldn’t disclose the sales price.)

Palm Beachers might remember Benfante from his brief foray into island dining in 1996, when he opened Le Bateau on Worth Avenue. The restaurant closed after only three months. Benfante said the landlord wanted Le Bateau to serve lunch as well as dinner, a requirement that Benfante found “onerous.”

This time around, Benfante has purchased the shopping center that houses Bimini Twist, so Benfante says he controls his own destiny, and will open only for dinner, as has been the practice. Benfante, a veteran caterer from New York, said he plans to keep the staff and management in place and continue Bimini Twist’s seafood-oriented cuisine. The deal was brokered by Jeff Sussman and Alan Koch.

Alexandra Clough writes about the economy, real estate and the law. Contact her at alexandra_clough@pbpost.com.

Originally posted 2010-01-27 07:58:34. Republished by Blog Post Promoter

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

admin — Wed, 27 Jan 2010 12:01:13 +0000

- 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

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