Granite City's New Unit in Indiana - Analyst Blog


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Granite City Food & Brewery Ltd. ( GCFB ), a subsidiary of Concept Development Partners LLC, recently announced that it will develop a new Granite City Food & Brewery restaurant in Indianapolis, Indiana. The company recently inked a long-term lease agreement with Simon Property Group Inc. ( SPG ) for the development of the restaurant.

The Granite City restaurants feature upscale casual dining with various menu items and hand-crafted beers to customers. Located at the first level of Circle Center Mall, the new restaurant is the 29 th property in the Granite City's portfolio. The restaurant is situated centrally near the various landmarks of Indianapolis like Lucas Field, Conseco Fieldhouse, Indiana Convention Center and Monument Circle. The property is scheduled to open in late 2012.

Circle Center Mall is a four-level shopping complex and located near the Carson Pirie Scott department store in downtown Indianapolis in the Wholesale District. The mall boasts of over 100 shopping, dining, and entertainment centers under one roof. It is well linked with seven hotels in the area via covered skywalks.

The company is highly active on expansion front. Recently, it also acquired the assets of another restaurant concept Cadillac Ranch All American Bar & Grill in Pittsburgh, Pennsylvania for $0.9 million.

Minneapolis, Minnesota-based Granite City Food & Brewery Ltd. engages in development and operation of two casual dining concepts: Granite City Food & Brewery and Cadillac Ranch All American Bar & Grill in United States. As of now, the company operates 27 Granite City Food & Brewery restaurants in 13 states and 6 Cadillac Ranch All American Bar & Grill restaurants in 5 states.

The Company, which competes with the likes of Jamba Inc. ( JMBA ) and Kona Grill Inc. ( KONA ) , is scheduled to announce its second quarter 2012 earnings on August 7, 2012.

GRANITE CITY FD (GCFB): Free Stock Analysis Report
JAMBA INC (JMBA): Free Stock Analysis Report
KONA GRILL INC (KONA): Free Stock Analysis Report
SIMON PROPERTY (SPG): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
More Headlines for: GCFB , JMBA , KONA , SPG

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