Cordish is starting its engines. The Cordish Company, a Baltimore-based global real estate development and entertainment operating company, is preparing to launch their cutting-edge NASCAR Sports Grille restaurants.
Charm City residents know Cordish for its creation of Power Plant, Live! and the Power Plant, two locations that house popular bars, restaurants and stores.
The NASCAR deal is a part of a plan to replace the existing NASCAR Cafe franchises, with the first NASCAR Sports Grille set to hold its grand opening in Orlando, Fla., on Feb. 14.
“The more we looked into it, the popularity, its appeal,” Cordish vice president of development Reed Cordish said. “The more we were convinced we could create something truly unique.”
According to Cordish, NASCAR brings in hundreds of millions of dollars each year.
NASCAR ranks second to only the NFL in sport popularity and growth. It?s the most ticketed sport in America, and has the fastest growing fan base in the states.
With this kind of popularity, and each new NASCAR Sports Grille priced at around $7 million to $10 million, Cordish anticipates a return on its investment as early as two and a half years after opening.
“One of the great things about sports,” Reed Cordish said, “is that it?s a different story every year.”
As far as licensing deals go, Cordish has the longest with NASCAR, a contract that gives him rights for about 50 more years. With such a long-term contract, Cordish already has plans in the mix for future locations.
Cordish said several professional sports team owners have approached the company looking to have a NASCAR Sports Grille built into, or just outside, their stadiums.
Two planned locations include Myrtle Beach, South Carolina, and one near the future site of the NASCAR hall of fame in Charlotte, N.C.
“The Cordish Company is one of the leading real estate development companies in the United States,” NASCAR spokesman Scott Warfield said in an earlier interview with The Examiner. “This is really a story of two very successful family companies coming together.”
