Benihana Inc. (NASDAQ: BNHNA; BNHN), operator of the nation's largest chain of Japanese theme and sushi restaurants, today updated development activity for its Benihana teppanyaki, RA Sushi, and Haru restaurant concepts.
Benihana Teppanyaki
The Company opened a new Benihana teppanyaki restaurant at The Fountains at Arbor Lakes in Maple Grove, MN on May 14, 2007. The Maple Grove location is the second unit built with the new prototype design.
The Company signed a definitive lease agreement for a new Benihana teppanyaki restaurant in downtown Chicago, IL, at the intersection of State and Erie Streets. The restaurant will be situated on the ground floor of a new mixed-use building with significant frontage along Erie Street. The new Chicago location will be built with a contemporary Japanese look and feel, utilizing the new prototype design. It will replace the recently closed downtown restaurant at 166 East Superior Street, a site the Company had occupied for almost forty years.
The Benihana teppanyaki restaurant in Torrance, CA reopened on April 23, 2007 after an extensive remodel which incorporated elements of the new prototype design.
Remodeled locations in Fort Lauderdale and Miami Beach, FL are expected to reopen during the first quarter of fiscal 2008, while the Burlingame, CA unit is expected to reopen in the second quarter of fiscal 2008.
The Company will be closing the Benihana teppanyaki restaurant in Turtle Creek, TX, a suburb of Dallas, upon lease expiration.
There are currently three additional Benihana teppanyaki restaurants under development in Chandler, AZ; Plymouth Meeting, PA; and Dulles, VA. All of these units will be utilizing the new prototype design.
RA Sushi
The Company has signed a lease agreement for a new RA Sushi restaurant in Pembroke Pines, FL. The restaurant will be located at The Shops at Pembroke Gardens, an upscale 400,000 square foot lifestyle center off Interstate 75 and Pines Boulevard.
There are currently eight additional RA Sushi restaurants under development in Mesa, AZ; Huntington Beach, CA; Tustin, CA; South Miami, FL; Baltimore, MD; Lombard, IL; Houston, TX; and Plano, TX.
Haru
There are currently two Haru restaurants under development in Boston, MA and New York City.
"Our development of new Benihana teppanyaki restaurants, combined with our ongoing remodeling efforts of mature units, will not only enhance the quality of our portfolio, but also help ensure the vitality and relevance of our flagship brand for many years to come. Our high-energy RA Sushi concept is continuing to make inroads in the marketplace, and we will continue to explore opportunities to build additional restaurants at top-notch locations across the country. Finally, we are selectively adding Haru restaurants in urban settings with the appropriate demographics," said Joel A. Schwartz, Chairman and CEO.
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