TRICERA CAPITAL & X LAS OLAS RIVERFRONT

Real estate investment firm Tricera Capital & Merrimac Ventures announced today it has signed leases with two of Thompson Hospitality’s premier restaurant concepts – Matchbox and Big Buns Damn Good Burgers – at popular mix-used development X Las Olas. The restaurants are scheduled to open along the Riverfront in mid-2020.
Located in the heart of downtown Fort Lauderdale, X Las Olas is part of developer PMG’s X Social Communities (XSC) growing portfolio. On completion, the property will boast two residential towers with 1,200 units and 17,000SF of ground floor retail space on the Riverwalk, along with 30,000SF of co-working space directly above the retail on the second and third floors. With 11,500sf still currently available, Tricera Capital is in beginning stages of negotiations, with several regional & national F&B/Entertainment concepts.
“Our goal for X Las Olas is to return the Riverwalk back to its former glory by bringing in concepts that speak to the transformation of downtown Fort Lauderdale,” says Justin Lustig, Head of Leasing at Tricera Capital. “We believe in the vision Thompson Hospitality has for the Matchbox & DGB brands of delivering a vibrant neighborhood restaurant experience and saw the perfect synergy within our project along the Riverwalk.”
After an initial $11 million-dollar investment earlier this year, Thompson Hospitality is now the controlling partner and operating manager of Matchbox Restaurant Group who will open in 4,500SF on the ground floor of X Las Olas. Since 2003, the DC-based chain has provided a quintessential neighborhood gathering place for communities throughout the Greater Washington area. With 11 locations across the U.S. and more on the way, matchbox’s menu is centered around fresh, premium ingredients, which offers something for everyone, from wood-fired pizzas to mini burgers to simple, yet refined main courses, and a full bar featuring specialty cocktails, local beer and wines from around the globe.
Big Buns Damn Good Burgers signed a lease to occupy 1,500SF of retail space. Big Buns is a fun-casual restaurant specializing in burgers, burger bowls, shakes, craft beer and cocktails. The restaurant is inspired by a true love for burgers and beer, and the belief that eating out should feel like a fun backyard party with delicious food, ice-cold drinks and good friends. The menu is a balance of tradition and innovation, comprised of different styles of burgers from all over the world.
“We are thrilled about opening Matchbox and Big Buns at X Las Olas along the newly revitalized Riverwalk in the heart of Downtown Fort Lauderdale,” said Warren Thompson, president and chairman of Thompson Hospitality. “The matchbox brand has proven to be successful in South Florida, and we look forward to our second location being a part of the Riverwalk district where our guests can eat, drink, share, and gather.”
About Tricera Capital
Tricera Capital was founded by top real estate industry leaders, Scott Sherman and Ben Mandell. The real estate investment firm focuses on value-add, urban retail investments within the United States, including retail, office, and mixed-use commercial properties in emerging and mature markets. Tricera Capital is actively seeking investment opportunities and is currently focused on future growth markets in the Southeast United States with a primary focus on South and Central Florida. To learn more, visit triceracap.com.
About Merrimac Ventures
Merrimac Ventures is a Real Estate investment and development firm located in Fort Lauderdale, FL. Its primary focus is on prime resort and mixed-use development but also has extensive investments in multi-family residential, condominiums, single-family rental, retail and commercial. Merrimac Ventures is an opportunistic firm, specializing in bringing unique projects to the market by combining a vast network of financial resources with the political acumen to navigate the entitlement processes in diverse jurisdictions. Partners in Merrimac Ventures are currently involved in over $3 billion in real estate projects, including Miami World Center, the Four Seasons Hotel and Private Residences Fort Lauderdale, The Gale Boutique Hotel and Residences, Paramount Fort Lauderdale Beach, Las Olas Riverfront, The Flagler Village Hotel and Broadstone Oceanside Apartments, among others.
About Thompson Hospitality
Thompson Hospitality is one of the largest retail food and facilities management companies in the country. Led by President and Chairman Warren Thompson, the family-run organization was founded over 25 years ago and operates several restaurant concepts around the D.C. area, including The Delegate, matchbox, Austin Grill, Hen Quarter, American Tap Room and Big Buns Damn Good Burgers. Visit thompsonhospitality.com to learn more.