Ivar's plans first new restaurant since 2013; search continues for space in six other cities
Ivar's plans to open a seafood bar at Issaquah's Lake Sammamish Center in October after a 14-year wait.
Ivar's President Bob Donegan has been trying to get into the shopping center since it opened, finally getting a chance with the closure of Pallino Pastaria.
With this newest addition, Ivar's will have 25 standalone locations in Washington state. It hasn't opened a new restaurant since Bothell in 2013 and Puyallup in 2011. Ivar's reopened its remodeled Burien location in April.
"The biggest issue with opening new stores is finding affordable real estate," Donegan said. "What used to cost $35 to $40 a square foot is now $75 to $80. Ours is a low-margin business, so we can’t afford rent that high."
Ivar's sold its flagship waterfront property on Pier 54 for $39.5 million last year for the same reason, Donegan said.
The Issaquah restaurant will be roughly 2,500 square feet with 65 seats and patio seating in the summer. The fast-casual seafood bar will have an expanded menu with beer and wine, Donegan said.
The company continues to look for affordable space in Redmond, Mill Creek, Bellevue's Factoria neighborhood, Newcastle, Silverdale and Olympia, Donegan said.
https://www.bizjournals.com/seattle/news/2018/07/03/ivar-s-plans-first-new-restaurant-since-2013.html?ana=e_du_prem&s=article_du&ed=2018-07-03&u=ColXVN5SPzQtLHFP87ho2w07857290&t=1530661806&j=82512391
