BRIEF: Fire Mountain Grill site in Suffolk to become retail space
SUFFOLK, Oct 06, 2012 (Menafn - The Virginian-Pilot - McClatchy-Tribune Information Services via COMTEX) --The former Fire Mountain Grill at 1202 N. Main St. will be razed and replaced with new retail space.
Michael D. Sifen Inc., a Virginia Beach-based commercial developer, paid 2.08 million for the building. The seller was Realty Income Corp.
The Fire Mountain restaurant closed Sept. 19 after nearly 20 years in Suffolk. It was at the end of its lease, according to Nathan Riggs, a spokesperson for Buffets Inc., which owns the restaurant chain.
"We chose not to try to renew the lease because it was an underperforming location," Riggs said.
Buffets continues to operate six restaurants in Virginia, with four in Northern Virginia and two in western Virginia. The chain also owns Old Country Buffet, Ryan's, Home Town Buffet, Country Buffet and Granny's Buffet.
Michael D. Sifen Inc. will raze the 12,000-square-foot former restaurant building and redevelop the site with 25,000 square feet of retail space, according to Cushman & Wakefield -- Thalhimer, which represented the buyer.
Michael D. Sifen Inc. recently teamed up with Drucker & Falk Real Estate on a 48 million eco-friendly luxury apartment complex in Newport News.
Stacy Parker, 757-222-5558,firstname.lastname@example.org
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