October 30, 2015

Cheddar’s Casual Cafe & Tijuana Flats Joining Shoppes @ St. Lucie West

Menin Development is pleased to announce that it has signed an additional two (2) new leases at the Shoppes at St. Lucie West in St. Lucie West, Florida. Cheddar’s Casual Café will occupy an 8,000 square foot newly constructed free-standing restaurant building in an out parcel location. Tijuana Flats will also be joining the shopping center on an out parcel in a newly constructed multi-tenant building. Construction has commenced and both are projected to be open second quarter of 2016.

The addition of both Cheddar’s and Tijuana Flats along with the recent upgrades and additional HomeGoods anchor to the Shoppes at St. Lucie West further solidifies the project’s existing co-tenancy and strength in the St. Lucie West market. There has been an increased demand among retailers and businesses for best in-class properties. In addition to these recently executed leases, Menin is in various stages of lease negotiations with a number of new and exciting tenants and expects positive leasing activity to continue in the coming months.

About the Shoppes at St. Lucie West

The Shoppes at St. Lucie West, originally constructed in 1993 and acquired by Menin in 2003, currently consists of approximately 250,000 square feet, with an adjacent development parcel that will allow the construction of an additional 140,000 square feet of retail space. In 2014, Burlington and LA Fitness joined Publix replacing Sears which closed in 2012. At the same time, Menin performed an extensive renovation of the Shopping Center totaling approximately $15 million and Publix underwent an interior renovation of their store. Pollo Tropical and HomeGoods are under construction and are part of the ongoing improvements taking place at the shopping center. HomeGoods will be located in a brand new 20,500 square foot store in the Shopping Center between Burlington and Publix. Pollo Tropical will be located in an out parcel location within a newly constructed 3,700 square foot building. Prime roadside frontage and in-line retail space along with the adjoining 13-acre parcel are all actively being marketed. Upon completion, the Shoppes at St. Lucie West will consist of 400,000 square feet in total. The Shoppes at St. Lucie West is located at N.W. Bethany Drive and St. Lucie West Boulevard in St. Lucie West, Florida.

About Cheddar’s Casual Café

Cheddar’s Casual Café is a leading multi-concept “classic American” casual dining restaurant company with over 80 system-wide stores in 20 states, having collective revenues of over $350 million. The company was founded in 1978 in Arlington, Texas by Aubrey G. Good and Douglas H. Rogers. Current Chariman and CEO, Kelly Baltes, is an accomplished industry executive with over 25 years experience. Baltes was previously Executive Vice President of Darden Restaurants, where he was responsible for the operations of over 685 restaurants. Cheddar’s is principally co-owned by Oak Investment Partners and Catterton Partners, two premier U.S. equity investment firms, each with a long history of building and expanding superior restaurant and retail companies. For more information, visit Cheddar’s Casual Café website at www.cheddars.com.

About Tijuana Flats

Tijuana Flats is a leading Tex-Mex casual style restaurant with it’s corporate offices located in Winter Park, Florida. Tijuana Flats began with it’s first store in Winter Park in 1995 owned and operated by founder Brian Wheeler. In 1998, Camp Fitch, a national hospitality executive who formerly oversaw an 800 strong restaurant group that includes the names such as Bennigan’s and Steak & Ale, joined the organization. Tijuana Flats has since grown to more than 70 restaurants in Florida and 4 other states with another 30 currently in development. For more information, visit Tijuana Flats website at www.tijuanaflats.com.

About Menin Development

Menin Development, Inc is a privately held owner, developer and manager of commercial real estate properties. Founded by Craig I. Menin in 1985, the company is headquartered in Palm Beach, Florida. Menin, the developer and owner of over $1 billion of prime retail properties throughout the Southeast, has a current portfolio of 800,000 square feet of existing, high-quality community and grocery-anchored centers as well as another 2.1 million square feet under development. Throughout its history, Menin has acquired and/or developed in excess of 3 million square feet in Florida, Virginia, North Carolina, Louisiana and Tennessee.