HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--July 18, 2001--Chicago
Pizza & Brewery Inc. (Nasdaq:CHGO) (Nasdaq:CHGOW) announced that it
has executed a non-binding letter of intent on a site in Lewisville,
Texas.
Lewisville is a rapidly growing, upscale community northwest of
Dallas. The company expects to develop an 8,000 square foot BJ's
Restaurant & Brewhouse on the site, which is part of a new retail and
restaurant development visible from Interstate Highway 35.
Jerry Hennessy, co-CEO stated: "We are very excited to have
reached this preliminary agreement on a site in Texas, which has been
a focus of our real estate efforts over the past few months. We
believe that Texas will provide a great opportunity for us. We look
forward to being a part of the very vibrant restaurant market in
Texas, and the Dallas area in particular. We are actively looking for
additional sites in nearby communities to create a more significant
presence in the market."
The Lewisville unit is the first to be announced for development
in 2002. The company's objective is to open four to six units that
year. The company is currently developing two units: Irvine, Calif.
and Chandler, Ariz., which are scheduled to open in August and October
2001, respectively.
The company also announced the recent appointment of Steve Leonard
to its board of directors. Leonard has had extensive experience in the
areas of investments and real estate management and development. At
one point, Leonard's company owned and managed the largest portfolio
of commercial real estate in Colorado. |
