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Cummings Properties has announced the pending sale of Beacon Grille to veteran Boston restaurant company The Varano Group. It is expected that the Woburn eatery will become a Strega restaurant by midsummer.
The Varano Group, owned by well known restaurant entrepreneur Nick Varano, operates several highly respected local establishments, including Strega, Strega Waterfront, and Nico Ristorante. The new location at the landmark TradeCenter 128 office park, directly fronting I-95, will be the firm’s first suburban property.
Cummings Properties opened Beacon Grille in January 2010 as a major amenity for the commercial real estate firm’s recently built TradeCenter 128 complex. According to President and CEO Dennis Clarke, Cummings Properties had promised client firms a first-class dining establishment, but was unable to find a restaurant operator willing to take a chance on a new location, given the economic climate at the time.
Clarke said, “Our intention from the very beginning was to run Beacon Grille for a few years to prove the potential of the site, and then identify a more experienced operator to take over.”
He added that Nick Varano is just the type of operator they had in mind.
“With more than a decade in the industry, Nick has earned an enviable reputation for providing memorable dining experiences,” said Clarke. “We have every confidence that he will impress local residents and businesspeople, including our TradeCenter 128 clients, with exceptional food and service.”
Strega Waterfront was recently recognized by Boston Business Journal as a “Most Admired Restaurant.”
Both parties are reportedly optimistic about finalizing the transaction, which includes the purchase of Beacon Grille and a lease for 10,000 square feet. The deal, however, is contingent upon the successful transfer of the liquor license.
According to Clarke, Beacon Grille is operating on a “business as usual” basis until all conditions of the sale have been met. He also noted that The Varano Group is looking forward to expanding Beacon Grille’s brisk function business, and that Strega will, of course, honor all commitments made by Beacon Grille.
Guest
8:36 pm on Friday, March 8, 2013
I wonder how much Cummings actually gave away from this "nonprofit" restaurant in comparison to what he is putting into his pocket from this sale. 9 in 10 restaurants fail in this economy, I am willing to bet that he actually gave away minimal money from this place, and really used it as a tax write of and publicity. Guess you can't fault him for the business strategy, but this whole idea of a nonprofit restaurant never smelled right, now he is walking away from this place with a fistful of dough. Good luck to the new owners, maybe they can actually turn this place into a decent restaurant.
Earnhardt
8:54 pm on Friday, March 8, 2013
Let's talk about the thousands he has given to the City, The education monies he has invested in Woburn, They are always the first to step up and fork over money for worthy causes. So what if this was his business plan? The Mckeown scholarships alone make up for it.
charles
7:48 am on Saturday, March 9, 2013
I since a negativity from the Guest's comments. A little investigation would reveal that the Cummings Foundation has given away 1000,000 's of dollars to Woburn and other cities & towns. Thank you Cummings Foundation....I won that bet.
David Crowley
2:32 pm on Saturday, March 9, 2013
Yes, Guest's comments are not based in fact. Our organization, Social Capital Inc., was one of many local organizations recently awarded $100,000 grants. The Cummings family is the only family in the state, to my knowledge, that has signed the "Giving Pledge" indicating their intent to donate most of their wealth to charity--something they are well on their way to doing. Moreover, I have the pleasure of serving as a Trustee at New Horizons, the nonprofit assisted living facility they started. I have seen first hand Bill & Joyce's genuine commitment to the residents of that facility. So they have a major commitment to giving of themselves both in terms of time and financial resources. Here's a link to last year's announcement of grants: http://woburn.patch.com/announcements/eleven-woburn-organizations-receive-100000-from-cummings-foundation#photo-9959572
harold withrow
7:10 am on Tuesday, March 12, 2013
Congratulations Mr Cummings on choosing Mr Varano to take the reins of your Beacon Grill and hopefully turn it into another Strega a well respected professionally run restaurant .So sit back and relax you deserve it .www
Beacon Grille
8:23 am on Tuesday, March 12, 2013
On behalf of the entire Cummings organization, thank you for all of the kind words and support. Beacon Grille has greatly enjoyed being part of the Woburn community. We look forward to welcoming Strega, however, and are confident that Nick Varano and his talented team will create a wonderful new dining experience for those who live and work in the area.
Kevin
9:04 am on Tuesday, March 12, 2013
cant wait.
Guest
9:12 am on Tuesday, March 12, 2013
Try being an employee of Cummings or a tenant of Cummings Properties and you'll see how "generous" he is.
P A
9:53 am on Tuesday, March 12, 2013
Dear Guest, "it is better to keep quiet and have the world think you are a fool then open your mouth and remove all doubt." Mr. Cummings has done more for Woburn and its citizens than you. So just be proud of what he has done and enjoy what he has sowed through his worthy causes. Padoyle
Susan Keeley
10:03 am on Tuesday, March 12, 2013
I will be utterly disappointed if Beacon Grille is turned into yet another suburban Italian eatery. That's the very last thing Metro North needs. What I love about Beacon Grille is that it's an alternative to the same-old-same-old. And the cocktails. I love those too. :)
Aron Levy
11:11 am on Tuesday, March 12, 2013
What a shame. Nick Varano is a slimy guy, and his food is horribly overpriced. I wish it had been any other restauranteur than he.
Well except for maybe Todd English. That man is Scum with a capital S.
I love Woburn
12:21 pm on Tuesday, March 12, 2013
I am all for it provided the menu price points don't rise
Aron Levy
2:42 pm on Tuesday, March 12, 2013
Not likely. This is Nick Varano we're talking about.
Beacon Grille
5:45 pm on Tuesday, March 12, 2013
We appreciate everyone’s interest in the transition of Beacon Grille to what we now know will be “Strega Prime.” Rest assured, this upscale Italian steakhouse will be an exciting addition to the suburban restaurant scene!
Nick Varano’s original Strega restaurant has become a legendary North End landmark, and his newer Strega Waterfront, located on Fan Pier, was recently recognized by Boston Business Journal as a “Most Admired Restaurant.”
We encourage you to give Strega Prime a try when it opens, and hope you will also stop by soon to see us at Beacon Grille!
Small businessman
8:11 am on Thursday, May 2, 2013
The other tenants in the trade center do not benefit from a destination restaurant in a commercial businrss space. Mr. And Mrs. Cummings have been very generous, but like most "robber barons" it's on the backs of businesses broken in the brutal leasing system Cummings runs.
Small businessman
8:14 am on Thursday, May 2, 2013
PS it was a non-profit. It gave away 6M dollars. But why sell?? Money is the only conclusion. The heck with non-profit I guess. It was a model for others.
Beacon Grille
1:18 pm on Thursday, May 2, 2013
Dear “Small businessman,”
Beacon Grille has been delighted to serve numerous TradeCenter 128 client firms on a regular basis during the past three years for all manner of business lunches, seminars, corporate cocktail receptions, office social events and more. The restaurant is fully confident that Strega Prime will continue to meet the dining and function needs of many of the businesses located at the campus.
As regards the restaurant’s philanthropy, please note that Beacon Grille is a for-profit entity that has donated all of its after-tax profits for charitable purposes. The donations you mentioned, totaling $6 million, were actually made by Cummings Foundation last year – not Beacon Grille. The restaurant’s total volume in 2011 and 2012 was about $4.5 million each year.
Thank you,
Joyce Vyriotes
Communication Director
dr. jim vermilyea
8:07 am on Friday, May 3, 2013
Ms. Vyriotes,
I am certain that the Beacon Grille menu used to say it was a non-profit restaurant and touted itself as a model. Look at the early meus. The current menu does not claim the restaurant is non-profit. You are misrepresenting the facts, or the Beacon Grille did when it opened... Neither speaks well of Cummings approach.
As a Cummings Properties commercial leasing customer, I think that putting high end restaurants in commercial buildings significantly increases the taxable value of the real property by the city of Woburn and these costs are unfairly passed on the lesses. The Beacon grill does not contribute to my business in any way- businesses in the TradeCenter are not oriented to foot traffic (and nor does the Beacon Grille generate any anyway, all it does is clog up the parking.) I'd advise other businesses to be very careful if you're considering renting here.