TEMPE, Ariz., Jan. 2, 2013 /PRNewswire/ -- What a perfect recipe. With the Chicago Cubs set to open a new Arizona spring training facility just a mile to the east, one of the Windy City's most famous restaurants has just closed on property at Arizona's largest and most successful open-air retail center.
Vestar, owners of the 1.3 million square foot Tempe Marketplace, announced today that it sold a 2.38-acre parcel on its southwest corner to Portillo's. The Midwest institution plans to open its high-energy, 7,000-square foot eatery in the summer of 2013. What goes better with taking in spring training baseball than Chicago hot dogs and beef—which is what Portillo's does and does right every day of the year.
"We have few restaurant sites at the bustling Tempe Marketplace left and it's hard to imagine a better fit for one of those spots than Portillo's," said David Malin, Vestar's Director of Acquisitions and Development. "Whether you're a Chicago native living in the Phoenix metropolitan area, a visitor from the Midwest or just someone who loves great food done right, you'll feel right at home at Portillo's."
Portillo's first expanded outside the Midwest when it opened its first California location in 2005. Tempe Marketplace is the most notable of Arizona sites yet announced.
About Tempe Marketplace
With 1.3 million square feet of retail space, over 100 retail and restaurant tenants, outdoor fireplaces and unique water features, Tempe Marketplace is Arizona's premier outdoor lifestyle entertainment venue.
The Portillo Restaurant Group is the largest privately-owned restaurant company in the Midwest. Based in Oak Brook, Ill., it owns and operates four different restaurant concepts, which include Portillo's Hot Dogs; Barnelli's Pasta Bowl; Luigi's House and Julian's Pizza; a breakfast chain, Honey Jam Cafe; as well as a catering division, Portillo's Home Kitchen. The Portillo's menu includes a variety of items, including Chicago-style hot dogs, Italian beef, hamburgers, sandwiches, ribs, and salads, and desserts. The first Portillo's hot dog stand known as "The Dog House" opened in 1963 on North Avenue in Villa Park. Owner and founder Dick Portillo invested $1,100 into a 6' x 12' trailer without a bathroom or running water. Combined, the concepts have over 4,000 employees and a total of 48 restaurants, plus a catering and shipping division and shopping center.
One of the leading privately held commercial real estate companies in the western United States, Vestar develops, acquires, leases and manages retail and entertainment destinations of varying size and scale that serve as community focal points. Since its inception in 1977, Vestar has earned a reputation for integrity and responsibility in the fields of retail property operations and management. It has developed and managed over 20 million square feet of retail space in Arizona, California and Nevada.