LOS ANGELES, Jan. 19, 2007 (PRIME NEWSWIRE) -- Grill Concepts, Inc. (Nasdaq:GRIL) today announced plans to expand its presence in Texas with a late-2008 opening of a new Daily Grill restaurant in the highly anticipated Park Lane development in North Dallas. Construction for the company-owned, 6,500 square-foot restaurant is budgeted at $2.5 million.
"This announcement is made on the heels of our recently signed lease to open a Daily Grill restaurant in Austin's new urban village, The Domain, in 2007 and will be the company's fourth restaurant in Texas," said Philip Gay, chief executive officer. "With the growing popularity of our Houston Daily Grill and The Grill on the Alley in Dallas, we are excited to be adding to our existing network by locating at Park Lane, a development that will accommodate a complementary combination of patrons and that will prove to be one of the region's most attractive new mixed-use developments."
Located at the southeast corner of Park Lane and Central Expressway in North Dallas, Park Lane is a $500 million, two million square-foot project that will include residential, retail and entertainment space spanning more than five city blocks. Anchoring Park Lane will be a flagship Whole Foods Market, a four-and-a-half-star luxury Valencia Hotel and The Sports Club/LA, an upscale sports and fitness center featuring a full service spa and salon. Park Lane is a project of Dallas-based Harvest Partners. Retail leasing is being managed by UCR/Urban.
"Park Lane will feature a combination of retail and dining concepts that people simply won't be able to find anywhere else in Dallas," said Eliot Barnett, managing partner of Harvest Partners. "We are very pleased that Daily Grill will be part of the consumer experience at Park Lane."
Gay added: "The Dallas Daily Grill lease further exemplifies our accelerated growth plans and the need for our freshly expanded credit facility. We now have four new Daily Grill restaurants confirmed for openings: Memphis to open in April 2007; Seattle and Austin to open during the summer of 2007; and Dallas in the fall of 2008. We look forward to providing the communities for all of these new restaurants with the premier choice in upscale casual dining and the finest in freshly-prepared, made-from-scratch American grill fare."
Quintessentially American in ambiance and cuisine, Daily Grill has received rave reviews for its straightforward, classic American cuisine, prepared using home-cooking techniques, with fresh ingredients purchased daily. Unique appetizers, crisp salads, fresh seafood, aged Certified Angus Beef, and sumptuous desserts are hallmarks of Daily Grill. For those who appreciate great American food made fresh from scratch, Daily Grill invites guest to come and experience dining the way it was meant to be, one great meal at a time, by people who care.
About Grill Concepts, Inc.
Grill Concepts owns and manages upscale casual and fine dining, full service restaurants under two core brand names: The Grill on the Alley and Daily Grill. The company operates 25 restaurants including five The Grill on the Alley-branded restaurants in Beverly Hills, Hollywood, San Jose, California; Chicago, IL; and Dallas, TX as well as 20 Daily Grill restaurants in Southern and Northern California; the Washington, D.C. metropolitan region; Houston, Texas; Portland, Oregon; and Skokie, Illinois.
This news release contains forward-looking statements, which are based on current operations, plans and expectations. Such statements include, but are not limited to, the opening dates of the Dallas, Austin, Memphis and Seattle Daily Grills and the construction cost of the Dallas Daily Grill. Actual results may differ materially from these statements due to risks and uncertainties beyond the company's control, which are detailed from time to time in its filings with the United States Securities and Exchange Commission.