RiNo is going to need a bigger belt.
San Diego-based fried chicken chain The Crack Shack and Via 313 Pizzeria – an Austin-based Detroit-style pizza brand – are heading to the neighborhood.
The two restaurants plan to open in August 2022 next to each other at 2801 Walnut Street.
The Crack Shack debuted locally in September in the new DTC dining room in Troy Guard. But it will be Denver’s first location for Via 313.
Both channels are controlled by Savory, a new division of Salt Lake City-based growth fund, Mercato Partners, which focuses on growing high-end and casual brands.
“There is a lot to like about the Denver market with the growth happening there in both business and residential,” said Brad Giles, vice president of real estate for Savory Management.
“It’s dynamic, and the demographics show it. There is good disposable income and Denver is emerging as a small market for foodies. It’s a great place for new concepts to reveal themselves, thrive and grow.
Giles said Savory hopes to open at least three more locations of each of the two concepts in the Denver area.
The salty $ 90 million fund was launched last year before the pandemic. It was started by Andrew Smith, former CEO of Utah-based Four Foods Group, and helps companies in his portfolio in areas ranging from real estate selection to leadership training and accounting.
Savory typically takes a stake in companies that have grown beyond a single location. He aims to take them “from small to regional before selling our interest to a subsequent buyer,” Giles said.
“There are a lot of restaurant private equity groups out there, but Savory is unique in that we are restaurateurs first, not capitals first,” said Giles.
R&R BBQ, which opened earlier this year in the food hall of the Edgewater Public Market, is also partly owned by Savory.
Savory signed leases for the 3,800 square foot space of The Crack Shack and the 2,870 square foot space of Via 313 Pizzeria in RiNo last month. The group hired local architect John Craig with 4Site Advisors to design the space.
The brands will move next to Stem Ciders and the RevZilla store which will open soon. Owners Tai and John Beldock own the entire west side of the 2800 block of Walnut Street and operate their Erico Motorsports motorcycle dealership at the north end of it.
Broker Ken Himel along with David, Hicks & Lampert represented the Beldocks in the matter.
“To John and Tai’s credit, they were very easy to work with and helped this deal move quickly,” Giles said. “We love the history of the area and the urban nature. It is suitable for two brands which are decidedly not sanitized, whitewashed and sterile. These brands have a soul.