Ripco Real Estate collaborates with Lavitt of Lavitt to broker 9,564 s/f lease

A Buffalo Wild Wings Grill & Bar has leased space in the new 165,000 s/f Riverdale Crossing shopping center in the Riverdale area, according to Joseph Farkas, president of Metropolitan Realty Associates (MRA), the project's developer. Buffalo Wild Wings will occupy the second floor, (9,564 s/f,) in a two-story section of a free-standing retailing building that is currently under construction along with the new BJ's Wholesale Club building. "Buffalo Wild Wings, with its sports media theme, is an ideal addition to Riverside Crossing that will draw customers to the project throughout the day and evening, rather than simply generating a mealtime rush as some restaurants do," Farkas said. The restaurant will occupy the second floor of a 46,500 s/f freestanding building facing BJ's Wholesale Club, which anchors the project in a 118,500 s/f structure on the southeast corner of the property. Slated to open in January 2014, Riverdale Crossing is between the Major Deegan Expressway and Broadway, adjacent to the city subway's (1 Train) 238th St. stop, and is on the site of the former Stella D'Oro Biscuit Co. factory. The project will offer parking on a surface lot and on two roofdecks. Todd Cooper and Miles Mahony, both of Ripco Real Estate Corp., are the exclusive leasing agents for Riverdale Crossing and represented MRA in this transaction. Jeff Howard of Ripco and Howard Lavitt of Lavitt Real Estate negotiated for Buffalo Wild Wings. In late summer, 2011, MRA and its long-time joint-venture equity partner, Angelo, Gordon & Co., acquired the prime five-acre location for $18.5 million. A year later, the partners have razed the aging structure and begun work on what will become an important source of jobs and economic activity for the Riverdale and Kingsbridge neighborhoods. With multiple leases under negotiation, Farkas said he is confident that Riverdale Crossing will be fully occupied when it opens in 2014. "Retailers have very few opportunities to establish a modern, efficient store in the Bronx," Farkas said. "Riverdale Crossing provides retailers with a unique opportunity that will draw visitors and shoppers from Westchester and upper Manhattan." Buffalo Wild Wings, Inc., founded in 1982 and headquartered in Minneapolis, is a growing owner, operator and franchisor of Buffalo Wild Wings restaurants featuring a variety of boldly flavored, made-to-order menu items including its namesake Buffalo, New York-style chicken wings. The Buffalo Wild Wings menu specializes in 20 mouth-watering signature sauces and seasonings with flavor sensations ranging from Sweet BBQâ„¢ to Blazin'. Guests enjoy a welcoming neighborhood atmosphere that includes an extensive multi-media system for watching their favorite sporting events. Buffalo Wild Wings is the recipient of hundreds of "Best Wings" and "Best Sports Bar" awards from across the country. There are currently more than 835 Buffalo Wild Wings locations across 48 states in the United States, as well as in Canada. Established in 2001 by veteran estate professional Joseph A. Farkas, Jericho, N.Y.-based Metropolitan Realty Associates LLC is a national private real estate investment and development firm. MRA utilizes its analytical, operational, construction, leasing and marketing expertise to implement investment strategies that create value for its investors while creating a first-class environment for its tenants and residents. The firm specializes in adaptive reuse investments in the New York metropolitan area where it owns over 1.5 million square feet of office and retail space, and has important investments in development projects. Recent transactions include the purchase of the former Stella D'Oro factory in Riverdale, N.Y., and the sale of 15 East 26th Street, New York, N.Y.