Five Guys Burgers and Fries is coming to the Quad-Cities. No, seriously this time.
Steve Geifman, president and managing partner at Geifman First Equity, is bringing the national chain to Utica Ridge Road and Market Square Circle, near Buffalo Wild Wings, in Davenport.
That is the same site that was teased with a development sign that included the Five Guys logo on it in December 2018.
Geifman’s office sits across the street from where Five Guys is going. He checked on the progress of the development and is the third developer to take on the project. He signed a lease agreement after negotiating with the land owner and expects to start construction in the next 60 days.
It is currently scheduled to open in early 2021.
“I think it’s great for the community because it’s a product people like and another amenity. I know the Quad-Cities has been waiting for a long time for a Five Guys, and this time it’s actually going to happen,” he said.
Five Guys will have a neighbor in the new development who will occupy 3,200-square-feet of space, but Geifman declined to name that business. He said it was not a restaurant and that he would add parking spots for the new development.
The deal was negotiated on about March 5, days before the coronavirus pandemic was declared, and was paused at that time. Geifman said he called back every two weeks to check in on the status of the deal.
The final touches were put on the deal by mid-July, and the lease was signed last week. And while there is much uncertainty in the market, especially when it comes to large capital outlays like construction, Geifman remains confident in Five Guys.
“I get how everyone is apprehensive, whether its developers or everyone, but I think everyone is able to get safely back on track. I do know their location in Corralville, which opened earlier this year” before COVID-19 remained in operation “throughout COVID with the app and pull-up/carryout orders. They’ve been very successful so they’ve remained quite busy throughout this time,” he said.
“We’re excited to be developing. We’re putting Quad-Citians to work and trying to keep the economy moving along.”
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