Grill Concepts Opens Newest Daily Grill Restaurant in Premiere Downtown L.A. Location
Grill Concepts, Inc. (Nasdaq: GRILE) announced the opening of its newest Daily Grill restaurant in downtown Los Angeles, expanding its presence in the Southern California area to ten Daily Grills.
The company's 21st Daily Grill restaurant, budgeted at $2.2 million, is located at 6th and Flower, one of the busiest and most vibrant intersections in the downtown Los Angeles area, with a reported daily average of 80,000 cars passing through the intersection. The company partnered with property manager Kennedy Wilson Properties and its affiliates and signed a 15-year lease with two five-year options for the 6,400 square-foot space.
"This is, perhaps, the first time I have actually looked forward to L.A. traffic," said Robert Spivak, president and chief executive officer of Grill Concepts. "We are thrilled about the prospects for our newest Daily Grill restaurant, which is located in the heart of the downtown area, within walking distance of office buildings, hotels, entertainment and cultural centers, residences and other restaurants. We believe this location is ideal to draw a diverse cross-section of patrons throughout the day and into the evening."
The Daily Grill restaurant in downtown Los Angeles seats 210 guests and features a private dining room for up to 50 guests, a full-service bar and a small sidewalk patio that seats 20 guests.
Spivak added, "Building on the momentum of our Santa Monica Daily Grill opened in March of this year, we believe the downtown location is consistent with our site selection strategy of targeting high-end, business-oriented complexes. This restaurant should be well positioned to benefit from the city's ongoing downtown urban renewal plans and become as much a fixture of the area as gridlock traffic."
"This is, perhaps, the first time I have actually looked forward to L.A. traffic," said Robert Spivak, president and chief executive officer of Grill Concepts. "We are thrilled about the prospects for our newest Daily Grill restaurant, which is located in the heart of the downtown area, within walking distance of office buildings, hotels, entertainment and cultural centers, residences and other restaurants. We believe this location is ideal to draw a diverse cross-section of patrons throughout the day and into the evening."
The Daily Grill restaurant in downtown Los Angeles seats 210 guests and features a private dining room for up to 50 guests, a full-service bar and a small sidewalk patio that seats 20 guests.
Spivak added, "Building on the momentum of our Santa Monica Daily Grill opened in March of this year, we believe the downtown location is consistent with our site selection strategy of targeting high-end, business-oriented complexes. This restaurant should be well positioned to benefit from the city's ongoing downtown urban renewal plans and become as much a fixture of the area as gridlock traffic."
