Chew on this: Shorty’s BBQ sells Doral property for $6M

Barbecue restaurant operator owned 1.1 acre site for 20 years

Miami /
Oct.October 05, 2021 04:39 PM

Shorty’s BBQ property in Doral sells for $6M (Shorty’s BBQ, iStock)

In an off-market deal too savory to pass up, the top executive for Shorty’s BBQ sold the local chain’s Doral property for $6.1 million.

Doral Restaurant Investments LLC, managed by Jair Luis Gomes Fontes of Miami-based Belisana Investments, bought the 1.1-acre site at 2255 Northwest 87th Avenue, according to records.

The seller is an entity managed by Mark Vasturo, CEO of Kendall-based Shorty’s BBQ. The buyer took out a $4.1 million loan with Vasturo’s entity, Shorty’s IV.

Vasturo told The Real Deal that Shorty’s BBQ didn’t plan on selling its Doral property until he was contacted by a representative for the buyer. In 2001, Shorty’s IV bought the 1.1-acre property for $1.1 million and completed the 7,511 square-foot restaurant a year later, records show.

“We got a random call from an interested party who knew this investor was looking for [a restaurant property],” Vasturo said. “They had come close to buying another nearby parcel. We told them it was not really for sale, but you’re welcome to make an offer.”

The offer for the real estate was “too good to refuse,” Vasturo added.

For now, Shorty’s BBQ will continue operating at the Doral site, but the new owner has plans to put a different restaurant in the space, Vasturo said. “It’s fluid,” he said. “We could stay another two, three months or a longer term deal. We will stay open as long as it makes sense.”

Vasturo said Shorty’s BBQ may also look at leasing another space in Doral, and that all employees at the sold location have been offered jobs at three other Shorty’s BBQ restaurants. The company owns the real estate of its Davie location at 5989 South University Drive. Shorty’s II, also managed by Vasturo, paid $440,000 in 1987 for the property.

The barbecue chain leases its other two locations in West Miami and Kendall, where the original restaurant has operated for 70 years. The Shorty’s BBQ at 9200 South Dixie Highway opened in 1951 as a log cabin style restaurant, according to the company’s website. Nineteen years later, the building burned down and founder E.L. “Shorty” Allen rebuilt an almost exact replica in its place.

Recently, several high-profile South Florida restaurant properties have sold. Two companies with ties to Little Havana developer Bill Fuller acquired a stake in the historic Polynesian-themed Mai Kai restaurant in Oakland Park. The new partnership paid $7.5 million for the real estate at 3599 North Federal Highway.

And Speed Plaza, a Florida company led by Carlos Tovar and Luis Meir, paid $5.9 million for the two commercial condos at Brickell House in Miami. The ground-floor spaces at 1300 Brickell Bay Drive are currently leased to Peruvian restaurant Osaka.





    Related Articles

    arrow_forward_ios
    Melo Group buying entire block in Miami’s Arts & Entertainment District for $105M to build resi towers
    Melo Group buying entire block in Miami’s Arts & Entertainment District for $105M to build resi towers
    Melo Group buying entire block in Miami’s Arts & Entertainment District for $105M to build resi towers
    Gomez Development scores $45M loan to build Aventura medical building
    Gomez Development scores $45M loan to build Aventura medical building
    Gomez Development scores $45M loan to build Aventura medical building
    Aventura assisted living and medical offices project scores $84M construction loan
    Aventura assisted living and medical offices project scores $84M construction loan
    Aventura assisted living and medical offices project scores $84M construction loan
    Dave Grutman and Jeffrey Soffer
    WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
    WATCH: Jeffrey Soffer and Dave Grutman talk post-Covid concepts and branching into the Vegas market
    Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
    Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
    Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
    Sergio Pino of Century Homebuilders Group and the church (Century Homebuilders, Facebook via St. James Evangelical Lutheran Church - MIAMI FL)
    On holy ground: Sergio Pino’s Century Homebuilders plans apartments, school on Coral Gables church site
    On holy ground: Sergio Pino’s Century Homebuilders plans apartments, school on Coral Gables church site
    Developer Thomas Conway and the Little River location (Google Maps, Qualcon)
    Thomas Conway’s Qualcon eyes mixed-income apartment project in Little River Opportunity Zone
    Thomas Conway’s Qualcon eyes mixed-income apartment project in Little River Opportunity Zone
    (Murano at Portofino)
    Murano at Portofino closing tops weekly condo sales in Miami-Dade
    Murano at Portofino closing tops weekly condo sales in Miami-Dade
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...