Texas Roadhouse Restaurant Selects Westview Business Park for Inaugural Location in Frederick County
FREDERICK, MD (August 14, 2013) – Texas Roadhouse (Nasdaq: TXRH) restaurant has signed a ground lease with St. John Properties, Inc. for a 2.25 acre pad site at Westview Business Park, a 49-acre business community located at the intersection of Interstate 270 and MD Route 85 (Buckeystown Pike) at Pegasus Court in Frederick, MD. Construction of the 7,163 square foot, free-standing casual dining restaurant is scheduled to start by the end of September, with completion scheduled to occur in the second quarter of 2014. This site represents the chain’s first Frederick County location and ninth in Maryland.
Bill Holzman, Vice President of Retail Leasing for St. John Properties, represented the landlord and Tom Poss of Accel Realty Partners, LLC represented the tenant in this transaction. Texas Roadhouse operates Maryland locations in Bowie, Fallston, Hagerstown, La Plata, Lexington Park, Pasadena, Salisbury and Westminster.
Westview Business Park consists of nine buildings totaling approximately 423,000 square feet of multi-tenanted R&D/office/flex buildings in a corporate campus, with an additional six acres of land currently under development with frontage along MD Route 85. Site work for Texas Roadhouse will kick-off the efforts to deliver a speculative 21,000 square foot retail building along MD Route 85 and another pad site for up to 8,100 square feet of retail uses. Westview Business Park has attracted a number of new companies within the past two years, including Apex Diagnostics, Gemini Corporation, the National Society of Public Surveyors, CBIZ, Kemp Bio and Performance Automatic.
The Westview area of Fredrick is one of the region’s key business and retail corridors thanks to its proximity to Interstate 270 and the abundance of high-quality amenities and employers. More than 90,000 consumers reside within a five-mile radius of the site.
Texas Roadhouse, headquartered in Louisville, Kentucky, is a casual dining concept founded in 1993 that operates more than 400 restaurants in 48 states, as well as two internationally. The company is recognized for hand-cut steaks, made-from-scratch side dishes, fresh-baked bread and its lively and engaging atmosphere. Steak varieties include USDA choice sirloin, New York Strip, Ft. Worth Ribeye, Bone-in Ribeye, Porterhouse T-Bone and Dallas Fillet. Forbes Magazine ranked Texas Roadhouse as one of the 200 Best Small Companies in 2007 and 2008, and the company was ranked “Best Value” by readers of Consumer Reports in 2009.
“Westview Business Park provides Texas Roadhouse with unmatched visibility, convenient access from Buckeystown Pike, and an ever-expanding population to draw from,” stated Matt Holbrook, Regional Partner for St. John Properties. “The Frederick marketplace has proven that it can support multiple casual, fast-casual and family-oriented restaurants and Texas Roadhouse offers a distinctive dining experience that has demonstrated strong success in more than 400 locations around the country. The addition of another quality restaurant choice adds interest and variety for local residents.”
Adjacent to the Texas Roadhouse pad site is an 8,100 square foot building envelope that St. John Properties is marketing to national restaurant chains, health care providers and other potential uses. In addition, the company is targeting complementary retailers for a 21,000 square foot in-line retail building positioned within Westview Business Park.
“Quality retail breeds quality retail,” explained Bill Holzman of St. John Properties. “Texas Roadhouse’s selection of Westview Business Park solidifies our park as an emerging retail destination serving the Interstate 270 corridor, and furthers our efforts to bring complementary uses to the business community. The stable employee population contained within the park brings a built-in audience to the retailers day-in and day-out.”
About St. John Properties
St. John Properties, Inc., founded in 1971, owns and has developed nearly 17 million square feet of R&D/flex, office, retail and warehouse space in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia and Wisconsin. For more information about the company, visit sjp.mu9b0uf9-liquidwebsites.com.
For more information, contact:
Al Cunniff, Director of Marketing, St. John Properties, Inc.