DC Prime

D.C. Prime is a brand new restaurant which is owned and operated by Mark Craig, a successful operator of several of his own restaurant concepts that are primarily located in the Southeast. One concept, Arizona’s, is located on an outparcel of the Mall at Stonecrest, a 1.2 million square foot super regional mall just off Interstate 20. Mark has been operating his own concepts for more than 20 years and is based in Greenville, South Carolina. His largest concept is a growing Italian Kitchen and Wine concept known as Travinia, of which he has 13 today and a 14th under development. He has operated a Travinia in the Northern Virginia market for many years, in Leesburg, which is just west of the subject property. Mark came to understand the incredible growth and wealthy demographic in this area, which made Ashburn an easy decision to locate his first high end restaurant specializing in steaks and lobsters. Mark considers this his ‘Bucket List’ restaurant.

Mark not only owns and operates DC Prime, but also purchased the land and built the building himself. The opening of the restaurant was done strategically in August without a lot of publicity. The idea was to fine tune the offering of a high end restaurant with excellent food and that word-of-mouth would be his primary marketing tool. The strategy is paying off, as sales have continued to improve every week. During the late part of September 2015 the restaurant was generating approximately $80,000 weekly in sales and in the middle weeks of October 2015 sales are already consistently hitting close to $90,000 per week. Mark’s goal is for the restaurant to stabilize in the $4.5 – $5 million range on an annual basis. Sales for Mark’s Arizona’s Steakhouse in Atlanta exceeded $3.5M in 2014, and that location is on pace for 2015 sales in excess of $3.9M. Mark has a personal net worth of $7.3M. Total revenues for his restaurants are in excess of $35 million. Mark and the Arizona’s Steakhouse are both additional lease guarantors for the subject DC Prime location.