BBQ deal inked as food industry continues to eat up NYC space.Budgets of consumers may be tight, but not enough to part ways with their baby back ribs. Dallas BBQ BBQ barbecue has expanded its presence with a lease for its eighth New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. restaurant and its first ever in the Bronx. Barry Fields, of City Connections, represented both the landlord, Drbx Holdings, and the tenant, Herb & Greg Wetanson of Dallas BBQ, in the deal, which encompassed roughly 37,000 s/f of ground-level and plaza space at 281 West Fordham Road Fordham Road is a major street in The Bronx borough of New York City. It runs east-west from the Harlem River to Bronx Park. At its western extreme, it goes through the University Heights neighborhood. . The transaction closed after the space spent 10 months on the market. According to Fields, the negotiation process was grueling, since multiple owners were involved in the deal. The restaurant's latest location, situated along the Major Deegan Expressway The Major William Francis Deegan Expressway (sometimes called "The Major Deegan" or simply "the Deegan") is an 8.4 mile (13.5 km) part of Interstate 87 in the New York City, USA, borough of The Bronx. , is known as a high-traffic area. That, coupled with the fact restaurant fixtures were already in place, were the major perks that attracted the tenant to the property; the site was formerly home to the Seafood Factory and the longstanding restaurant Jimmy's Uptown. [ILLUSTRATION OMITTED] "Food is still the strongest user of space right now," Fields said. "Expanding food franchisees and some of the local banks are out there looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. space." Dallas BBQ--whose latest location is now open for business--launched its first restaurant three decades ago at West 72nd Street. Since then they have expanded to six other New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of locations--in Brooklyn, Chelsea, East Village, Times Square, Washington Heights and the Upper East Side--and, now, the Bronx. The deal, which closed at a total of $14.8 million, is for a 20-year term. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion