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.