Chipotle to open Eau Claire store in late 2012 - AT&T Cellular to relocate
Posted: October 21, 2011
The City of Eau Claire Plan Commission this week approved a site plan for a national Mexican restaurant chain to move into the building at 4732 Golf Road and allow a local cellular phone company provider to move from its current location.
TBL has learned that Denver,CO-based Chipotle Mexican Grill Inc. (NYSE:CMG) has signed an agreement to occupy a 2,400-square-foot space in the existing A&W Restaurant facility and allow for a relocation of the AT&T Cellular office next year. AT&T will occupy about 3,600 square feet of space.
"We'd like to have them open by this time next year. We don't plan to start construction until this coming spring," said Commonweal Development Corp. President Stuart Schaefer, who is responsible for leasing space in the Keystone Retail Center.
Chipotle Mexican Grill, which opened its first store in 1993, is a fast-casual restaurant chain with more than 900 operations. The company, which focuses on the fastest-growing segment of the restaurant industry, has five outlets in Milwaukee, three in Madison, and one each in Appleton, Hudson and Racine,WI. There are also multiple locations in the Twin Cities.
CMG, which reported third quarter earnings late this week, recorded a revenue increase of 22.4 percent to $571.6 million during its fiscal second quarter compared to the same period one year ago. For the six months ended June 30, 2011, the company reported that revenues increased 23 percent to $1.08 billion versus the first six months of 2010. Comparable restaurant sales increased 11.1 percent. TBL