4 restaurants, retailers coming to vacant Logan’s Roadhouse
Developers are looking to add an addition and renovate the vacant Logan’s Roadhouse near the Mall at Fairfield Commons in Beavercreek — bringing four new restaurants and retailers to the area.
An application was filed by Dayton-based Civil Engineers of Southwest Ohio to renovate the former Logan’s Roadhouse at 2819 Centre Drive in Beavercreek. The application requested a major modification of more than two acres of land on the building’s property.
CESO is a small professional group providing civil engineering and surveying services to businesses and municipalities in the Dayton region.
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The permit would allow for the addition of 4,000 square feet onto the existing building to accommodate up to four restaurant and retail tenants, and a large portion of the exterior of the building would be removed. Assistant city planner Sandra Pereira said plans included a drive-through feature for one restaurant and an outdoor seating area for the other.
The specific retailers and restaurants moving into the space have not been identified. The motion was passed by the Beavercreek planning commission and now moves to the Beavercreek city council.
Logan's Roadhouse closed last September when employees were told high rent and the renegotiation of the building's lease was a factor in the decision to close the restaurant. In 2016, Logan's Roadhouse Inc. filed for reorganization bankruptcy and said it would close 18 "underperforming" locations in the 256-unit chain as it restructures its debt.
HOTEL
New Hilton hotel concept proposed by local mall
An application has been filed to build a hotel near the Mall at Fairfield Commons.
HiFive Development Services, based in Mason, filed an application to build a five-store, 107-room Home2 Suites Hotel on more than one acre of land in Beavercreek, according to the Beavercreek planning commission. The hotel is proposed to be located on the south side of Fairfield Commons Boulevard east of the Regal Cinemas.
Home2 Suites by Hilton is a new hotel concept by the hotel chain offering "stylish" suites, in-suite kitchens, free breakfast, pet-friendly amenities, extended stay perks and Hilton honors. There are several Home2 Suites in Ohio, and another is proposed for the Centerville area at 5321 Cornerstone North Blvd.
The application was approved by Beavercreek planning commission, and the plans will now go before city council.
MALL
Local mall owner sells off portion of Beavercreek restaurant property
The parent company of the Mall at Fairfield Commons has sold a restaurant outparcel near the Beavercreek shopping center.
Washington Prime Group, which owns both Dayton Mall and the Mall at Fairfield Commons, announced it has signed a definitive agreement for the sale of 41 restaurant outparcels to Four Corners Property Trust Inc. for more than $67 million.
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The 10 enclosed properties with outparcels included in the transaction are: Colonial Park Mall, located in Harrisburg, Pennsylvania; Lindale Mall located in Cedar Rapids, Iowa; Longview Mall located in Longview, Texas; Mall at Fairfield Commons located in Beavercreek, Markland Mall located in Kokomo, Indiana; Melbourne Square, located in Melbourne, Florida; Mesa Mall located in Grand Junction, Colorado; Orange Park Mall located in Orange Park, Florida; Southern Park Mall located in Youngstown, Ohio; and Sunland Park Mall located in El Paso, Texas.
The outparcels included in the transaction are currently occupied under leases with a weighted average term of eight years, representing approximately $4.5 million of annualized net operating income, the company announced. The deal is expected to close in two tranches beginning in the fourth quarter of 2017 with the second tranche expected to be completed in the first half of 2018, pending closing conditions.
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