Coach’s Smoke Barbecue, located in a seemingly prime location at Austin Avenue and Fourth Street, has been vacant for several months. But local real estate agents Pat Farrar, Jim Peevy and Griffin Peevy are hoping to improve the situation by securing a lease on the 6,304-square-foot property.
The combination barbecue restaurant and sports bar opened in the Austin Avenue Flats complex in 2015, creating crowds and wait times during meal times. It was located and established in the midst of downtown’s growth and development. Online reviews were mixed, with some patrons loving the place and others leaving disappointed.
Tragic circumstances regarding its previous owners have put its future at risk. But the Reed Peavy team believes it has potential.
“Fully furnished, furnished and equipped, it provides an excellent foundation for new tenants to build upon,” the promotional flyer says. “Featuring a spacious layout, this space features an open-concept dining area, fully equipped bar, full kitchen, smoking area, and additional mezzanine seating. It incorporates an overhead exterior door that connects the patio area along Austin Avenue.”
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A spokesperson said the property “is a key element of a larger mixed-use development which includes 48 homes situated above it”.
Lease rates for the building are set at $22 per square foot (triple net), meaning tenants will pay nearly $139,000 annually in base rent, along with taxes, insurance and maintenance.
Asked if the team would target restaurant patrons, Farrar said, “I certainly think so.” But that user may or may not offer barbecue, Farrar said. He notes that Terry Black’s Barbecue is renovating the building at Eighth Street and Mary Avenue to house a restaurant, general store and oyster bar.
“This is a great space and we’re keeping all options open,” Farrar said.
See more Costco chatter
A colleague here at the Tribune-Herald told me that a representative at Costco in Georgetown says Waco is quickly growing on the list of stores opening.
I know that certain factions love to see Costco or Trader Joe’s or both pop up here, and your message is really getting through.
Wine bars may reopen
Klassy Glass Wine Bar & Bistro, also known as Stay Classy Waco, at 723 Austin Ave. has been closed for several weeks, but sources say a new owner is in consideration.
A notice from the Texas Alcoholic Beverage Commission posted in October informs the establishment that it is seeking a beer and wine permit.
Retail and food summary
The Behringer Group continues to pursue a full house at 8100 Woodway Drive, home to the 28,000-square-foot Oak Grove Food Hall. Recent additions include Pho Restaurant, Pop’s Lemonade and Curry Up, each housing food stalls that will cost $20,000 to complete, according to building permits.
“We’re getting very close,” the Facebook progress report said. “Check out this fresh, shiny floor and all the space.”
Another permit worth $350,000 was issued to make changes to 5301 Bosque Boulevard. For his teenage retail stores under teens. One was issued to him for $300,000 to renovate a restaurant building at 8055 S. Interstate 35, where the Pilot Travel Center is located.
Hewitt Drive Walmart Redo
A celebratory ribbon-cutting ceremony was held Friday at the Walmart on Hewitt Drive, one of 117 stores nationwide undergoing a multi-million dollar renovation. Walmart has invested more than $500 million to refresh its stores in 30 states.
“This is the largest single-day re-grand opening in Walmart’s history,” Walmart Realty said in a news release.
“And while large in and of itself, this week’s event is just a tile in a mosaic. Over the past two years, we’ve invested more than $9 billion and upgraded more than 1,400 stores across the country. “The store is designed to provide a more modern shopping experience and improve the lives of our employees and customers from the moment they step into the new space,” the release states.
Upgrades include new paint, new signage, and more shopping carts. New checkout design based on customer feedback. We expanded our pharmacy and updated our vision center. A new dedicated examination room for pharmacist examinations. We also carry a large selection of designer glasses and sunglasses.
holiday retail forecast
The National Retail Federation released its holiday forecast last week, projecting sales in the range of $957 billion to $966 billion for November and December, reflecting year-over-year growth of 3% to 4%.
Although growth has slowed compared to the past three years, when multitrillion-dollar stimulus packages have sparked retail spending at an unprecedented pace during the pandemic, holiday spending this year is the lowest on average annual holidays from 2010 to 2019. This is in line with the 3.6% growth rate, he said. release.
“Consumers are in control and remain resilient despite the headwinds of inflation, rising gas prices, challenging credit conditions and rising interest rates,” NRF Chief Economist Jack Kleinhenz said in a statement. said.
NRF expects retailers to hire between 345,000 and 450,000 seasonal workers to get through the holiday season. According to the report, consumers plan to spend $875 on “key holiday items including gifts, decorations, food, and other holiday-related purchases.”