New York, NY CBRE Group, Inc. has arranged a 10,287 s/f retail lease expansion on behalf of Junior’s Restaurant and ownership at 1626 Broadway—the northeast corner of 49th St. The maker of cheesecakes is snatching the highly sought after Ruby Foo’s Times Sq. location.
Former Ruby Foo's space at 1626 Broadway to beoccupied by Junior's Restaurant.
Both Junior’s and the landlord were represented by CBRE’s vice chairman, David LaPierre, senior vice president, Gary Trock, senior associate, Sean Moran and associate, Zachary Parisi. The term was for 15 years.
“Ownership was seeking an established restauranteur to take the well-known space formerly occupied by Ruby Foo’s,†Trock said. â€Junior’s already knows how to operate within the Times Square submarket and this was an opportunity to expand from their other Times Sq. location—which has proven to be a successful destination spot as it continues to reach full capacity each night.â€
Junior’s Restaurant, known as the home of the world’s most fabulous cheesecake and Brooklyn comfort food, expects to open a restaurant with 300 seats and a bakery component. The deal is for 5,258 s/f on the ground level, 1,017 s/f at the ground mezzanine level, 3,237 s/f on the lower level and 775 s/f at the lower level mezzanine.
CBRE is one of the world’s largest commercial real estate services and investment firms (in terms of 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide.