News & Observer | newsobserver.com | What's up with that?

Published: Mar 28, 2008 12:30 AM
Modified: Mar 28, 2008 03:22 AM

What's up with that?

This concrete slab with pipes sticking out of it was going to be a Lone Star Restaurant at one point. But the chain has decided not to build more restaurants in the state and is trying to sell the spot.

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Q. At the corner of Highway 98 and Retail Drive in Wake Forest, there is a partially completed building slab with pipes embedded in it.

It's a prime retail spot, but building has not progressed for at least a year. Why not?

Thank you for your response.

-- Kristine Fletcher

A. Answering this question involves delving into a little history.

A company named Wake Forest Granite bought and developed all 60 acres of what is now Capitol Plaza, according to Craig Hunter, a partner in the company and developer of the project.

The shopping center sits at the interseciton of Highway 98 and Capital Boulevard intersection and includes the Home Depot and PetSmart.

Incidentally, the company also constructed Retail Drive.

The property in question is part of the last phase of that development. About two years ago, Lone Star Steak House & Saloon signed a 20-year lease on the property.

"They control it, they have ownership over it for 20 years," said Hunter.

According to Marc Buehler, CEO of Lone Star, the company discontinued construction on the property some time ago. Since the project stopped before Buehler became CEO eight months ago, he is short on the details.

He said that Lone Star has decided to stop building anymore restaurants in North Carolina for the time being. They have completed some projects that were begun before they made this decision. But the Retail Drive location was one project that was not continued.

Buehler says the land is currently up for sale.

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