Construction to Begin Immediately on a New Carrabba’s Italian Grill
Venice, Fla. (May 6, 2014) – RMC Property Group (“RMC”) is pleased to announce it has executed a long term ground lease with Carrabbas’s Italian Grill (“Carrabba’s”) for a 1.31-acre outparcel to the Lowe’s Home Improvement (“Lowe’s”) store in Venice, FL. RMC recently purchased the 1.31 acre site from Lowe’s and Carrabba’s will immediately begin the construction of a new restaurant which is anticipated to open in late 2014.
RMC created the outparcel by carving out a portion of the existing Lowe’s parking field. The development of the outparcel was a complex process that required entitling the outparcel through Sarasota County and obtaining modifications to several reciprocal easement agreements that encumbered the property.
Bobby Eggleston, RMC’s chief real estate officer and chief financial officer, represented RMC and Jim Kovacs of Colliers International represented Carrabba’s in the lease negotiation.
RMC Real Estate Services, Inc. (RMC)
RMC is one of Florida’s largest and most innovative full-service commercial and real estate leasing, management, acquisition, investment sales, development and redevelopment companies. Comprised of companies RMC Property Group and RMC Ross Realty, RMC leases and manages a portfolio of office, industrial and retail properties encompassing over 8 million square feet, has developed more than 140 freestanding drugstores, developed or redeveloped more than 25 grocery-anchored shopping centers, and renovated and redeveloped several other retail and mixed-use properties over the past 15 years. RMC’s extensive development, leasing and manage experience clearly provides a competitive edge that is unrivaled and unparalleled.