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Restaurant Company Plans $5M to $15M Expansion

MIAMI-Tarpon Bend Restaurants has hired the Prakas Group to procure between five and 10 sites in South Florida, perhaps north to Orlando. The restaurants would cost $1 million to $1.5 million each and be about 6,000 sf to 7,000 sf each, for a total of approximately 32,500 sf to 65,000 sf.

By Melissa Bogdany | Updated on December 10, 2003

MIAMI-Tarpon Bend Restaurants plans to procure five to 10 new restaurant sites throughout South Florida and possibly north to Orlando, FL. To reach that goal, the company hired the Prakas Group Inc., a full-service commercial brokerage firm that specializes in restaurant and nightclub brokerage, as the exclusive agent to represent it in its expansion plans.

The average projected cost to open each Tarpon Bend restaurant is $1 million to $1.5 million, for a total cost of $5 million to $15 million for the expansion. The company is looking to make each restaurant around 6,000 sf to 7,000 sf. Based on this, the expansion would consist of a total of approximately 32,500 sf for five restaurants and 65,000 sf for 10.

Currently, Tarpon Bend has locations at Weston Town Center in Weston, FL, and at Himmarshee Village in Downtown Fort Lauderdale, FL. The Restaurant People, a Fort Lauderdale-based restaurant management group in operation for more than six years, manages Tarpon Bend.

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