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Gilbert Arizona News: Developer Trying to find the Right Restaurant Mix

By
Real Estate Agent with LRA Real Estate Group

 

What to do with a tough commercial real esate corner in town?

That is what the new owner is trying to figure out. The former Grainbelt Building at 302 N. Gilbert Road has had its share of challenges in the past.

For example, back in 1998 the first restaurant that tried to open was 'Mahogany Run'. It closed after about 4 years. Then, Gonzo's opened as a Sports Bar in 2003 and lasted a year. It was owned by a pro baseball player Luis Gonzales. The next contender was the Hearthrob Music Cafe in 2004. It was gone after just a couple of months. Then, the Rock City Bar and Grill gave it a try in 2005. Even the Beatles could not save this ill-fated try. The Grainbelt debuted in May of 2007, but closed in just over one year.

Wow, interesting track record.

But the buildings new owner is trying to bring in 2 or 3 tenants to make it work And, it just may. There are successful restaurants all around the Grainbelt building. What is the successful, magic ingredient?

We will see.

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Bryan Watkins sells real estate in Gilbert, Mesa, and Chandler Arizona. Want to see the current list price on any home listed on the MLS? You can search the official MLS FREE just the same as Agents do at www.LRARealEstate.com.

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Posted by

Bryan Watkins
Designated Broker
LRA Real Estate Group
www.LRARealEstate.com
Phoenix-Tempe-Mesa Metro
480.734.7878 text/cell

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Comments (1)

Loren Green
Greens Home Design L.L.C. - Buckeye, AZ
Phoenix Home Inspector & Designer

The restaurant business is a tough business to compete in.  I did the tenant improvement plans for the new restaurant at the Las Sendas Golf Club in east Mesa.  They have the advantage of great views and a good distance from the competition.  I hear they are doing great.

I have had two potential clients in the last month decide they didn't have enough capitol to get the doors open so they didn't sign the leases and begin the design process.  The FDA and county health department add a lerge amount of unpredictable cost to building a restaurant.

Aug 31, 2010 05:13 AM