UPDATE: Uptown Dallas restaurant Nick & Sam's Grill closed; it'll become tequila bar Dos Jefes

[Editor's note: This story has been updated after an interview with co-owner Joseph Palladino.]

Nick & Sam's Grill, a casual offshoot to fine dining restaurant Nick & Sam's Steakhouse, has closed in Uptown Dallas.

"We were doing great at one time," says co-owner Joseph Palladino of Nick & Sam's Grill in Uptown, "and [then] we were doing OK. But fine's not good enough for me in this business. The location is great. Why should I settle for just doing pretty good when I want to do great?"

CultureMap reported the news first; a sign on the door confirms the closure.

Palladino is keeping the lease on the restaurant at Cedar Springs Road and Fairmont Street in Uptown Dallas. He hopes to open a "high-energy tequila and tapas restaurant" that might better compete with neighboring bars such as Concrete Cowboy and Kung Fu Saloon.

It's expected to open in early 2016.

[UPDATE on Nov. 5 from business writer Karen Robinson-Jacobs: The tapas place will be called Dos Jefes, or "two bosses." Palladino's partner Phil Romano will be involved in Dos Jefes.]

Over time, Nick & Sam's Grill became less new, less sparkly than the bars popping up nearby. That section of Uptown Dallas, once heavy with restaurants, became more of a late-night bar spot. "So I figured, 'Do as the Romans do,'" Palladino says. "Let me reconceptualize it and come up with something fun and exciting."

An existing Nick & Sam's Grill remains open near Northwest Highway and Preston Road in Dallas.

The new restaurant will have brunch on Saturdays and Sundays, Palladino says. Brunch was the big draw at Nick & Sam's Grill; he knows his Uptown audience.

Palladino also operates Nick & Sam's Steakhouse and Coal Vines with Dallas entrepreneur Romano. Soon, a new Coal Vines is expected to open next-door to another one of his new restaurants, Biergarten on Lamar, in downtown Dallas.

Follow Sarah Blaskovich on Twitter at @sblaskovich.

Karen Robinson-Jacobs contributed to this story.