Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/62026
RET AILING TODA Y A second shot NEW OWNERS PLAN TO REVAMP AND EXPAND BAR LOUIE By Beth Mattson-Teig B 114 SCT / MAY 2012 Bar Louie operates in 18 states and has plans to grow not just in its current mar- kets but also in such new ones as Boston, Dallas, New York City and Phoenix. Bar Louie started out as a AR LOUIE IS KNOWN FOR martinis, mojitos and margaritas. Its new owners want to freshen the glass. The bar-restaurant, founded in Chicago in 1990, is now property of Boca Raton, Fla.–based Sun Capital Part- ners, which bought the chain in June 2010 and began putting together new manage- ment late last year. "Sometimes injecting new thoughts, new people and new programs can strengthen the brand, and I think that's what we have done," said Chris Devlin, senior vice president of new business development at BL Restaurant Operations, the Addison, Texas– based operating entity. The chief order of business for now seems to be opening new restaurants. From roughly 40 units at the time of Sun Capital's acquisition, the chain is now on track for nearly 60 restaurants by the end of this month and about 70 by year-end. "It's very refresh- ing to be with an organization that's growing with the speed and focus that we are, and the landlord commu- nity is taking notice of it," said Maurie Molod, director of real estate at BL Restaurant Operations. "I'm start- ing to get calls now from landlords around the coun- try." Bar Louie also has some franchises. Currently, 3,000-square-foot corner bar. "It was a cool concept that was easy to roll out in an urban market," said Steven K. Graul, president and principal broker of In- novative Concept Associates, a broker- age firm in Reston, Va., that specializes in restaurants. Occupancy costs were low because of the smaller size, and the restaurants were able to generate good margins, he says. But the essence of the CURRENTLY, BAR LOUIE OPERATES IN 18 STATES, AND THE COMPANY PLANS TO GROW IN EXISTING MARKETS AND IN SUCH NEW ONES AS BOSTON, DALLAS, NEW YORK CITY AND PHOENIX.