Category : News

Encore Hospitality Adds Harrisonburg Hotel to Portfolio

Posted on: March 10, 2016 by Arpit Shah

(Harrisonburg, VA) March 10, 2016 – Encore Hospitality, LLC, a subsidiary of Encore Enterprises, Inc., recently purchased a hotel in Harrisonburg, VA. The 4-story, 140-room hotel currently operates as a Holiday Inn, but will be converted to a DoubleTree, after extensive upcoming renovations to satisfy Hilton brand standards.

“We are excited to acquire this new hotel for our growing portfolio,” said Chairman of Encore Enterprises, Inc. Dr. Bharat Sangani. “We are excited to continue to grow our relationship with the Hilton franchise in this new location.”

Encore plans to invest $50,000 per room to completely upgrade all aspects of the hotel including guest rooms, meeting rooms, lobby, lounge, exterior of the building, landscaping and the pool area. Once the renovations are complete, the hotel will take on the DoubleTree by Hilton name, offering all the perks of the Hilton brand and the Hilton HHonors program.

Located in Harrisonburg, VA just a mile away from James Madison University and located off of a major interchange that provides convenient access to Downtown Harrisonburg as well as Shenandoah National Park and George Washington National Forest, the hotel is centrally located for sightseeing. The hotel will also provide a new wedding and social event venue in the area as it is the only full-service hotel in the market.

“Converting this hotel to a full-service DoubleTree provides much desired hotel services to the Harrisonburg area,” said Glenn Pedersen, President of Encore Hospitality. “We look forward to investing in the renovation of the hotel so it can add to the amenities offered in Harrisonburg unlike any other hotel offers in the area.”

About Encore Enterprises, Inc. – Encore Enterprises, Inc. is a privately owned national real estate company founded in 1999 with corporate headquarters in Dallas, Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments.

About Encore Hospitality, LLC – Encore Hospitality, LLC is a subsidiary of Encore Enterprises, Inc., and was founded in 1999 as a fully integrated, hospitality acquisition, development and asset management company focusing on the upper mid-priced, nationally branded select-service and full-service hotel sector. For more information about Encore Hospitality, LLC, visit encorebz.wp.brainvire.dev, or call (214) 259-7000.

New York Life Real Estate Investors and Encore Office, LLC Close on the Acquisition of 5005 LBJ Tower in Dallas, Texas

Posted on: February 4, 2016 by Arpit Shah

(New York) February 4, 2016 – New York Life Real Estate Investors and Encore Office, LLC announced the acquisition, on behalf of institutional investors, of 5005 LBJ Tower, formerly known as Occidental Tower. The 24-story, 549,170 square foot office building is strategically located at the northwest corner of the Dallas North Tollway and the newly re-constructed LBJ Freeway in Dallas.

Since 1992, the Class AA asset has been owned by Occidental Tower Corporation, a subsidiary of Dallas-based Occidental Chemical Corporation (OxyChem). The property is 94 percent leased to tenants including Susan G. Komen Foundation, Encore Enterprises, and OxyChem, which will remain as a tenant in the building. The prime top five floors of the property will become available in August.

“This unique, high quality asset is an excellent opportunity for us to invest in a key location in Dallas at a time when the revitalization of the Galleria area is just beginning,” said Scott Ingham, Director at New York Life Real Estate Investors.

“We could not be more pleased to have purchased this iconic property, which was made possible by the close relationship that we maintained over the years with Occidental,” said Patrick Barber, President and Chief Executive Officer of Encore Enterprises. “This transaction is incredibly meaningful to us as it is where we have headquartered our office since 2006,” said Dr. Bharat Sangani, Chairman of Encore.

The new ownership team intends to complete a multi-million dollar lobby renovation and make improvements to the overall campus. Renovations are expected to start within a few months and will include upgrades to the building’s amenities. Plans include a new conference facility, tenant lounge, and state-of-the-art fitness center. Stream Realty Partners has been awarded the management and leasing of the asset. J.J. Leonard, managing director, Sara Terry, vice president, and Chase Lopez, senior associate of Stream’s office division in Dallas will lead the leasing efforts for the property.

“There is a great deal of excitement about this acquisition with all entities involved. It’s one of the most iconic suburban assets in Dallas, combing unmatched quality, location and exposure for companies looking for high-quality office space,” said J.J. Leonard, managing director, Stream Realty Partners.

About New York Life Real Estate Investors New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company.

New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. With over $45.6 billion in assets under management as of December 31, 2015, New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.

About New York LifeNew York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).**

Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities, products and services, as well as retail mutual funds.

*Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/15/15. Read more about the methodology.
**Individual independent rating agency commentary as of 7/1/15.
***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

About Encore Office, LCCEncore Office, LLC, a subsidiary of the Dallas-based Encore Enterprises, Inc, a commercial real-estate company, focuses on the acquisition, ownership, redevelopment and asset management of class “A” commercial office buildings across the United States.

About Encore Enterprises, Inc.Encore Enterprises, Inc. is a privately owned national real estate company founded in 1999 with corporate headquarters in Dallas, Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments.

Encore Celebrates Five Guys Opening in Fresno CA

Posted on: February 3, 2016 by Arpit Shah

(Fresno, CA) February 1, 2016 – Encore Restaurants, LLC, a subsidiary of the Dallas-based Encore Enterprises, Inc., opened its newest Five Guys Burgers and Fries restaurant today. The restaurant located at 6623 N. Riverside Drive, Suite 105 in Fresno, CA and is the ninth Five Guys restaurant to be owned and managed by Encore Restaurants, LLC.

“We are proud to open yet another Five Guys in Fresno, California,” said Chairman of Encore Enterprises, Inc. Dr. Bharat Sangani. “We are proud to be a part of such an award-winning franchise.”

Open every day from 11 a.m. to 10 p.m., Five Guys serves award-winning burgers, hot dogs, and fries that are fresh, never frozen, and customizable for any taste with over 250,000 burger options to be ordered. Five Guy’s has been ZAGAT survey rated every year since 2001 and has been voted the Washingtonian Magazine’s “Readers’ Choice” #1 Burger every year since 1999.

“All of our openings have been a success and we’re excited to share this newest restaurant with the people of Fresno. We appreciate all the support and excitement the citizens of Fresno have shown,” said Dale Doerhoff, president of Encore Restaurants. “In addition to this newest location, the restaurants division of Encore plans to continue to grow the Five Guys brand across the state of California with new restaurants coming soon.”

About Encore Restaurants, LLC – Encore Restaurants, LLC. develops, owns and manages specific territories of various Full Dining, Fast Casual, and Quick Serve concepts across the United States. For information regarding future development locations, please contact Stacey Barber at 228-547-0293.

Encore Hospitality, LLC Buys Q&C Hotel/Bar in New Orleans, Louisiana

Posted on: January 12, 2016 by Arpit Shah

(Dallas, Texas) January 8, 2016 – Encore Hospitality, LLC, a subsidiary of Encore Enterprises, Inc., has recently purchased the Q&C Hotel/Bar, formerly known as the Queen & Crescent Hotel in the Central Business District of New Orleans, Louisiana. The property was sold for $51.2 million by Northview Hotel Group of Connecticut who had purchased the hotel in 2013.

“The acquisition of the Q&C Hotel/Bar has been a exceptional addition to our hotel portfolio,” said Glenn Pedersen, President of Encore Hospitality. “We are currently on track to convert the development into a Marriott Autograph Collection Hotel within the next six months.”

Constructed in 1913 and fully renovated in 2014, the Q&C Hotel will be branded under the Autograph Collection of Marriott International, Inc. (NASDAQ: MAR), a portfolio of iconic, independent properties celebrating individuality. Q&C Hotel’s affiliation with the Autograph Collection Hotels will connect it with Marriott’s worldwide reservation system and frequent traveler program, “Marriott Rewards,” which has approximately 54 million members.

“The Q&C Hotel/Bar is a historical landmark of New Orleans and we intend on extending its legacy as a cornerstone for business and leisure travelers, as well as serving as one of the city’s premier wedding venues,” said Bharat Sangani, Chairman of Encore Enterprises. The hotel currently boasts 196 guest rooms as well as a revamped lobby and bar area. Other on-site amenities include a 24-hour fitness center, gathering spaces, valet and self-parking, and 2,600 square feet of flexible meeting space.

About Encore Hospitality, LLC
Encore Hospitality, LLC is a subsidiary of Encore Enterprises, Inc., and was founded in 1999 as a fully integrated, hospitality acquisition, development and asset management company focusing on the upper mid-priced, nationally branded select-service and full-service hotel sector. For more information about Encore Hospitality, LLC, visit encorebz.wp.brainvire.dev, or call (214) 259-7000.

About Encore Enterprises, Inc.
Encore Enterprises, Inc. is a privately owned national real estate investment company founded in 1999 with corporate headquarters in Dallas, Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments.

About Autograph Collection Hotels 
Autograph Collection Hotels celebrates individuality by curating one-of-a-kind travel experiences at more than 90 luxury lifestyle hotels found in the world’s most desirable destinations. Like nothing else, each hotel has been hand selected for its distinction as an iconic landmark, for its remarkable design or for its best-in-class resort amenities.

Tower at Frisco Square Grand Opening

Posted on: December 15, 2015 by Arpit Shah

Frisco, TX (December 3, 2015) – Encore Office, LLC has celebrated the grand opening of its latest development, the Tower at Frisco Square. The building is a midrise, 165,821 rentable square foot office development and is located inside Frisco Square. The Tower at Frisco Square is an urban, mixed-use master-planned development anchored by Gearbox Software. Featured speakers at the opening included Mayor of Frisco, Maher Maso, Encore Enterprises President and CEO, Patrick Barber, and Founder and CEO of Gearbox Software, Randy Pitchford.

“We wanted our workplace to be the same place that we eat and live and play and exist, and we’re getting that,” Pitchford commented.

Watch our highlight reel of the event below.

Yatin Gandhi Promoted to Senior Vice President of Finance, Tax and Risk Management at Encore Enterprises

Posted on: November 11, 2015 by Arpit Shah

Dallas, TX (November 11, 2015) – Encore Enterprises, Inc. is pleased to announce that Mr. Yatin Gandhi has been promoted to Senior Vice President of Finance, Tax, and Risk Management. Mr. Gandhi previously served as corporate controller for Encore, overseeing over $1 billion of real estate transactions across diverse asset types since joining the Encore team in 2004.

“Throughout Yatin’s service as corporate controller for Encore Enterprises, he has demonstrated a proficiency for financial management and a vast knowledge of the company,” said Dr. Bharat Sangani, Chairman of Encore Enterprises. “We are excited to add his experience to our management team and are confident in his skills and abilities. We know he will continue to make a positive impact on the company in this new role.”

Mr. Gandhi uses his understanding of technology in coordination with process development to manage the treasury, payroll, and accounting functions. He is also actively involved in the areas of corporate and shareholder tax planning.

New York, California, Texas,
Commercial Real Estate, Retail Investment Opportunities

Encore Retail Commences Construction on Quick Serve Restaurant in Lubbock, TX

Posted on: November 5, 2015 by Arpit Shah

(Lubbock, Texas) November 10, 2015 – Encore Retail, LLC, a division of the Dallas-based Encore Enterprises, Inc., has recently closed and commenced construction on their latest single tenant build-to-suit development, a 2,200 square foot freestanding quick serve restaurant. The restaurant will be located at the intersection of 19^th Street and Milwaukee Avenue in Lubbock, Texas.

Terry Parker, Senior Vice President of Development for Encore Retail, LLC, is spearheading the development. “We are proud to be bringing a premier quick serve restaurant to the Lubbock community,” said Parker. “We are working with some of the best contractors in the area who have shown a level of attention to detail and sensitivity in the construction and development of the project.”

“Encore Enterprises, Inc. is enthusiastic about this opportunity to expand our single tenant build-to-suit development program into the Lubbock area,” said Chairman of Encore Enterprises Dr. Bharat Sangani. “We anticipate a smooth and timely delivery on the project.”

The restaurant will provide fast, efficient, take-out-ready foods at affordable prices. Construction on the Lubbock quick serve restaurant commenced in early November, with a grand opening slated for March 2016.

Contact: Mike Nelson
Phone: 214-259-7032
Email: [email protected]

About Encore Enterprises, Inc.
Encore Enterprises, Inc. is a privately owned national real estate company founded in 1999 with corporate headquarters in Dallas, Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments. For more information, visit encore.bz or call (214) 259-7000.

About Encore Retail, LLC
Encore Retail, LLC is a privately held commercial real estate company focused on the acquisition, ownership, development, redevelopment and management of retail shopping centers throughout the United States. For more information on Commercial Real Estate Opportunities contact Encore Retail, LLC or call (214) 259-7000.

New York, California, Florida,
Commercial Real Estate, Retail Investment Opportunities

Encore Restaurants’ Grand Opening of IHOP in Brookhaven, MS

Posted on: October 13, 2015 by Arpit Shah

Brookhaven, MS (October 13, 2015) – Encore Restaurants, LLC, a subsidiary of the Dallas-based Encore Enterprises, Inc., has announced the opening of its latest project: an International House of Pancakes (IHOP) in Brookhaven, Mississippi. America’s newest IHOP celebrates its inaugural day with a grand opening on October 13, 2015, at 106 Stribling Road Brookhaven, Mississippi. This is the fourth IHOP restaurant to be owned and managed by Encore Restaurants.

“While we are proud to add another international brand in Mississippi, it is still very much a local business,” said Dr. Bharat Sangani, chairman of Encore Enterprises and developer of Lakeview Village shopping center in D’Iberville, Mississippi where Encore’s first IHOP is located. “We are confident that along with serving delicious food, the Brookhaven IHOP will also make a positive impact in the local economy.”

The restaurant features breakfast favorites such as large varieties of pancakes and omelets, as well as a wide selection of popular lunch and dinner items. Although the new IHOP will not be open 24/7 initially, it will gravitate towards 24/7 availability in the coming months.

Additionally, the events leading up to the grand opening was filled with optimism. On Friday, October 9, 2015, many city officials and other dignitaries gathered together to witness the ribbon cutting ceremony. Key attendees included the President of the Chamber of Commerce, the Chief of Police, Daphanee Sampson, who is the General Manager of the Brookhaven IHOP location, Cory Porter, who is the Director of Operations of Encore Enterprises, and Dale Doerhoff, who is the President of Encore Restaurants.

“The City of Brookhaven and the entire community have been very supportive and we’re excited to open our fourth IHOP in the Mississippi market. With the opening of the Brookhaven IHOP, we look forward to serving great food and delivering a fantastic experience for all of our guests,” said Dale Doerhoff.

About Encore Enterprises, Inc. – Encore Enterprises, Inc. is a privately owned national real estate company founded in 1999 with corporate headquarters in Dallas,Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments.

About IHOP – For over 55 years, International House of Pancakes, LLC has been a leader and expert in all things breakfast as well as a leader in family dining. IHOP restaurants offer guests an affordable, everyday dining experience with warm and friendly service. IHOP restaurants are franchised and operated by Glendale, Calif.-based International House of Pancakes, LLC and its affiliates. International House of Pancakes, LLC is a wholly-owned subsidiary of DineEquity, Inc. (NYSE: DIN).

New York, California, Florida, Mississippi,
Commercial Real Estate, Retail Investment Opportunities

Encore Retail, LLC Closes on Gulfport Plaza

Posted on: October 5, 2015 by Arpit Shah

(Dallas, Texas) September 23, 2015 – Encore Retail, LLC, a subsidiary of Dallas-based Encore Enterprises, Inc., has announced the sale of Gulfport Plaza, a 34,036 square-foot retail center located in Gulfport, Mississippi.

“Our strategy for Gulfport Plaza was one of value add repositioning,” said Nicholas Barber, President of Encore Retail. “We were able to increase gross leasable area by 28% and secure Petco as a new, long-term anchor. This allowed us to maximize the value of the project for our investors.”

The property is shadow anchored by a Super Wal-Mart and boasts a myriad of national and regional retailers including CATO, It’s Fashion, Advance America, GNC, Sally Beauty Supply, GameStop, and Petco.

Sale of Gulfport Plaza, Encore Retail, LLC

“The sale of Gulfport plaza is part of our continued strategy to acquire, develop, and redevelop retail shopping centers and NNN single-tenant properties,” said Bharat Sangani, Chairman of Encore Enterprises. “The sale of this property will enable us to purchase and develop other properties, enabling us to expand our retail presence to other areas of the country.”

Gulfport Plaza was sold to FMOC, LTD out of Austin, Texas for an undisclosed sum and brokered by Cliff Taylor, CCIM of CBRE.

About Encore Retail, LLC
Encore Retail, LLC is a privately held commercial real estate company focused on the acquisition, ownership, development, redevelopment and management of retail shopping centers from California to New York with locations across the United States. For more information, contact Encore Retail, LLC., or call (214) 259-7000.

New York, California, Mississippi, Texas,
Commercial Real Estate, Retail Investment Opportunities

Marketplace at Craig Ranch Announces Walmart Neighborhood Market as Anchor

Posted on: October 5, 2015 by Arpit Shah

(Dallas, Texas) August 18, 2015 – Encore Retail, LLC, a subsidiary of Dallas-based Encore Enterprises, Inc., has announced that the anchor of their latest development, Marketplace at Craig Ranch, will be Walmart Neighborhood Market. The 20-acre Class A neighborhood retail center will offer grocery, medical services, and retail to residents of the master planned community of Craig Ranch. The development is be located at the city limit lines of McKinney and Frisco, Texas, at the northeast intersection of Custer and Stacy Roads.

“We are excited about the growth and progress of our project in the growing community of Craig Ranch,” said Nicholas Barber, President of Encore Retail. “There are several home builders that are underway building more than 1,434 additional homes and 3,000 apartment units to meet residential growth demands in the area. Marketplace at Craig Ranch is situated in this growing area and will serve as a cornerstone for the community.”

The city of McKinney has been ranked as the number one best place to live in America and has placed in the top five for the past five years, according to Money Magazine. The city has also been named one of the top ten places to move to by Forbes magazine.

“It gives us great pleasure to be working on an other project with such an internationally renowned retailer,” said Bharat Sangani, Chairman of Encore Enterprises. “The Walmart brand operates in five continents and is known for its commitment to providing quality products at affordable prices. Brining such a quality grocery operator will provide an excellent service to the residents of Craig Ranch.”

Brandon Harris, and Tey Tiner, of CBRE/UCR have the leasing assignment for this development and represented the landlord in this transaction.

About Encore Retail, LLC
Encore Retail, LLC is a privately held commercial real estate company focused on the acquisition, ownership, development, redevelopment and management of retail shopping centers throughout the United States. For more information, contact Encore Retail, LLC or call (214) 259-7000.