(To read more on the net lease market, click here.)
MINNETONKA, MN-Famous Dave's recently moved into new headquarters offices at Whitewater Office Center at 12701 Whitewater Dr. The barbecue restaurant chain had been based in Eden Prairie, MN, but decided to move its corporate staff and support center to the new space--which is a little more than 26,000 sf.
The new headquarters has a test kitchen to allow the company to create and test new menu items, said David Goronkin, president and chief executive officer of Famous Dave's. "The new space is scalable to support infrastructure for future growth," Goronkin says.
Famous Dave's signed a signed agreement with Liberty Property Limited Partnership for 97 months, with two five-year renewal options. The minimum annual rent commitment over the lease term is about $4.6 million, the company said. The lease began Aug. 1, according to the company.
The chain had 118 restaurants at the end of the second quarter, including 38 company-owned restaurants and 80 franchise-operated restaurants in 29 states. The chain is growing at a rate of about 25 to 30 new restaurants a year.
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