PEBB Enterprises to Develop Restaurant Row in Boca Raton Following Site Acquisition
Project next to Town Center at Boca Raton pre-leased to popular Pubbelly Sushi and El Camino, with additional spaces available
BOCA RATON, FL – PEBB Enterprises, the entrepreneurial private real estate investment firm based in Boca Raton, continues to aggressively expand in its home base. The firm plans to develop Restaurant Row, a project with five restaurant locations, next to the Town Center at Boca Raton.
Restaurant Row is a 22,500-square-foot ground-up, restaurant-only development. Two spaces at the project are currently pre-leased to popular restaurants Pubbelly Sushi and El Camino. PEBB is negotiating with several other national and regional restaurants interested in the remaining space.
Construction is expected to begin immediately, and the project will be completed in the third quarter of 2022.
PEBB acquired the 1.94-acre project site for $2.35 million. The transaction closed on June XX.
“Restaurant Row is a fantastic opportunity to accommodate the demand from restaurant operators seeking to expand to South Florida, along with established local operators looking to add a new location,” PEBB Enterprises President and CEO Ian Weiner said. “The project’s location is ideal for such operators.”
In addition to Restaurant Row’s proximity to Town Center, the project is also just minutes away from more than 2.5 million square feet of office space and four hotels. It is also directly at the base of the 145,000-square-foot Two Town Center office building.
Restaurant Row has easy access to I-95, which gives tenants the ability to service customers from West Palm Beach to Fort Lauderdale.
“This is an impeccably designed project allowing us to curate the best-quality restaurants,” PEBB Enterprises Chief Investment Officer Eric Hochman said. “Restaurant Row will have several pedestrian connections, ample outdoor dining space, a grand valet service area with lush landscaping and a water feature. It is a perfect complement to the mall and will serve as a dining and entertainment amenity for the entire market.”
CP Group sold the Restaurant Row site to PEBB. Dominic Montazemi From Cushman & Wakefield represented both sides of the transaction.
About PEBB Enterprises: Based in Boca Raton, FL, PEBB Enterprises is an entrepreneurial, full-service private equity real estate investment company. PEBB has operated as a family-owned business for more than four decades and takes pride in the company’s team of forward-thinking associates who continue to push and expand PEBB’s growth on a daily basis. PEBB has an unparalleled track record of acquiring and developing high-quality neighborhood, regional and power shopping centers, as well as suburban office buildings. The company’s vast portfolio includes properties in Florida, Texas, Nevada, New York and numerous Midwest and Southeast states. For more information, visit https://pebbenterprises.com/.