Cinosky of ATCO leases 5,181 s/f to Café Metro; Morden and Kooyman of NGKF Retail rep tenant

January 23, 2018 - Shopping Centers
Neil Adamson, ATCO

 

John Cinosky, ATCO

 

Stu Morden, NGKF Retail

 

Lucas Kooyman, NGKF Retail

 

Manhattan, NY ATCO Properties & Management has signed a 12-year, 5,181 s/f lease with fast-causal restaurant chain Café Metro at 240-246 West 35th St., an 18-story building in the Garment District.

The new Café Metro, which is expected to open in February, will continue the brand’s expansion in the NYC market. With the new location, Café Metro, with 30 years of operating history, and its sister brands, Flavors Café and Fresh & Co., will increase the number of its locations to 20 stores in Manhattan and one in downtown Brooklyn. The lease was officially signed on December 11th, 2017.

“We are delighted to welcome Café Metro to our property at 240 West 35th St.,” said Neil Adamson, CIO of ATCO Properties & Management. “Our strong Midtown location, coupled with its close proximity to Penn Station and the 34th St./Herald Sq. subway terminal, make it an ideal location for our tenants, visitors and on-the-go commuters.”

John Cinosky, president of ATCO Brokerage Services, represented the landlord, while Stu Morden and Lucas Kooyman of Newmark Knight Grubb Frank Retail, represented the tenant.

Situated near Penn Station and Herald Sq., 240-246 West 35th St. includes tenants: Cablevision-owned media group Newsday; fashion designer Jason Wu; men’s fashion and eyewear designer Thom Browne; technology company Fidelus Technology; foreign language school Spanish American Institute; and bridal designer Reem Bridals. The 165,000 s/f office property is situated on 35th St., between 7th and 8th Aves., which is becoming a main east-west corridor between Hudson Yards and midtown.

Following ATCO’s acquisition of the property in December 2016, ownership has completed several capital improvements at the building, including a new lobby renovation, common corridor upgrades and sidewalk improvements. Currently, an elevator upgrade/modernization is underway.

The purchase of 240-246 West 35th St. was ATCO’s first acquisition in the Garment District and the 12th acquisition in ATCO’s City Center Real Estate Program since 2012. ATCO presently owns and manages more than 35 buildings ranging from high-rise office and residential towers to one-story industrial structures and high tech flex buildings, including notable Manhattan properties such as 555 Fifth Avenue, 40 Central Park South, 41 West 58th St., 630 Third Ave., 381 and 373 Park Ave. South. Outside of New York City, ATCO is developing Camp North End, a 75-acre site in Charlotte, N.C. involving adaptive reuse of the site’s existing buildings to allow a mix of commercial uses, including office, retail and residential.

Café Metro was founded in 1982 and offers healthy, freshly-prepared food. The restaurant chain established its first New York City location at 530 Seventh Avenue.

 

More from the New York Real Estate Journal