The Hughes Center business district has been woken from a slumber. The 68-acre, mixed-use development has been sold to New York-based private equity firm Blackstone Group for $350 million. This vast sprawling plot of land includes a restaurant portfolio of Bahama Breeze, McCormick & Schmick's, Lawry's, Del Frisco's, Gordon Biersch and Fogo de Chao. No word yet on whether this asset switcheroo will affect those restaurant tenants. But change is occurring in this pin drop quiet and pedestrian barren neighborhood.
First, was the recent, unadvertised shuttering of Hamada of Japan. The Japanese restaurant was located between Fogo de Chao and Bahama Breeze. The signage is still up, but no indication of what will replace the former local favorite.
But further west on Flamingo, a new development is being constructed with a declared cost of $1 million. Starbucks is creating a one-story, drive-thru coffee palace covering 2,100-square-feet on 1.6 acres. Shoestring Acacia, Crape Myrtle trees, shrubbery and a fenced patio will embellish the two-tone brown color scheme. It will sit at the intersection to the Hughes Center district.
· All Coverage of Starbucks [~ELV~]