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January 31, 2024

The Varsity's Owners Consolidating Their Valuable Midtown Real Estate

The family behind one of Atlanta’s most iconic restaurants raised eyebrows this week when it filed an application to consolidate its ownership of numerous parcels around its prominent Midtown site. 

The Varsity's Owners Consolidating Their Valuable Midtown Real Estate

The Gordy family, which has owned The Varsity since the restaurant's founding in 1928, has been open to redeveloping the single-story restaurant at 61 North Ave. NW and its surrounding parking lots since 2022.But the moves aren't related to any upcoming project on the prominent site at the corner of North…

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TikTok, Tight Wallets And Tenets: How Gen Z Is Changing Restaurant Retail

When McDonald’s opened the first location of CosMc’s in suburban Chicago in December, 22-year-old food TikToker Nicole Ludwig was one of the first to grab a phone and document the new concept restaurant aimed squarely at young Americans for the masses. 

Ludwig, whose more than 175,000 TikTok followers enjoy her daily food content, is a part of an ecosystem of young influencers tapped into the latest food trends and driving conversation around them. The four videos Ludwig posted on TikTok, reviewing CosMc’s specialty beverages, coffees and snacks on Dec. 12, have over 2 million combined views.

"I posted and a lot of people were like 'I want to try this,'" Ludwig said. "A lot of people actually didn't even know about it."

TikTok, Tight Wallets And Tenets: How Gen Z Is Changing Restaurant Retail

Largely fueled by social media, CosMc's is a hit. Lines are reportedly two to three hours long for specialties like the Sour Cherry Energy Burst, Turmeric Spiced Latte, S’Mores Cold Brew and Creamy Avocado Tomatillo sandwiches, and McDonald’s plans to roll out the drive-thru-only concept to nine more markets this year, starting with…

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Alphabet Spent $1.8B Exiting Leases In 2023, Turns Focus To AI

Alphabet Spent $1.8B Exiting Leases In 2023, Turns Focus To AI  

Alphabet, the parent company of Google, paid $1.8B in 2023 to get out of leases globally, incurring $269M in accelerated rent and depreciation last year. During the fourth quarter alone, Alphabet paid $1.2B to end office leases early, according to the company's Q4 earnings results

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Nightingale's $82M Miami Beach Office Sale Collapses In Flurry Of Lawsuits

Nightingale's $82M Miami Beach Office Sale Collapses In Flurry Of Lawsuits  

The planned $82M sale of a Miami Beach office building owned by Nightingale Properties has failed to close, sparking a court battle between the embattled developer and the planned buyers.

The dispute rose to the surface just as CEO Elie Schwartz began repaying $53M in funds he misappropriated from two crowdfunding campaigns, including one at the Miami Beach building at 1601 Washington Ave. The sale was a key cog in his plan to repay investors.

Nightingale filed suit earlier this month in the 11th Judicial Circuit Court for Miami-Dade County, alleging that it is entitled to a $2M deposit because the Miami-based buyers, Black Lion Partners and Massa Investment Group, failed to close on the deal by the contractual deadline.  Black Lion and Massa filed a…

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