Oct 29, 2010

Vapiano to Open in Uptown Charlotte

MayfieldGentry Realty Advisors today announced that Charlotte is now the new home to the high-class VAPIANO restaurant (www.vapiano.com). The international "fresh casual" restaurant chain has signed an 11-year lease for 10,300 square feet on the first floor at South Tryon Square in the heart of Charlotte’s business district. The restaurant plans to open in 2011.

South Tryon Square is the first North Carolina location for the avant-garde and fast-growing VAPIANO, which has nine existing U.S. restaurants as well as ten U.S. locations under development. Established in 2002 in Hamburg, Germany, VAPIANO also has more than 30 restaurants throughout Europe, the Middle East, and Australia and plans to expand into more than a dozen more countries in the next few years. The restaurant’s "fresh, casual" menu is based on northern Italian cuisine and features an innovative service model in which customers order their meal using "chip card" technology.

"This is a terrific win for Charlotte and South Tryon Square," said Erin Curry, regional asset manager, MayfieldGentry Realty Advisors. "VAPIANO is a hot restaurant concept that is winning praise around the world and expanding rapidly here in the U.S. so we are honored to host their first location in North Carolina," Ms. Curry said.

Adam Williams and Dave Tschirhart of Legacy Real Estate Advisors represented the landlord in the transaction. Mike Lucier of CB Richard Ellis represented the tenant.

South Tryon Square beat out a number of downtown locations including Duke Energy Center to land the restaurant as a tenant. One of South Tryon’s key attractions was its connection to the six-block OverStreet Mall, Uptown Charlotte’s premier shopping area.

South Tryon Square is owned by MGRA 201 S. Tryon LLC, a wholly owned subsidiary of MGRA Genesis Value Fund LP, a commingled real estate equity fund sponsored by MayfieldGentry Realty Advisors, LLC. MayfieldGentry Realty Advisors, LLC is a Securities and Exchange Commission (SEC) registered, investment manager established in 2003. Headquartered in Detroit, MI, MayfieldGentry’s national portfolio of institutional quality commercial properties includes office, industrial, multi-family and retail assets located in California, Florida, Nevada, Virginia, Michigan, North Carolina, Arizona and Washington, DC.

Categories: Business, Development