Newmark Grubb Knight Frank (NGKF) Retail is pleased to announce it secured a 10-year, 2,723-square-foot lease that will be Jollibee Food Corporation’s (Jollibee) premier location in Manhattan at 609 Eighth Avenue. NGKF Retail’s Jason Pruger, executive managing director, and Harrison Abramowitz, director, represented the landlord, Ashkenazy Acquisition Corporation, in the direct deal.
Jollibee, the Philippines-based fast food chain specializing in fried chicken, hamburgers, spaghetti and rice meals, has a network of over 890 restaurants worldwide. With only two locations in the northeastern United States-Queens, New York and Danforth, New Jersey-the restaurant at 609 Eighth Avenue will be the chain’s first in Manhattan and will serve as the flagship location. Jollibee will join Arby’s in the single-story building, occupying 1,957 square feet on the ground floor and 766 square feet in the basement. The restaurant is set to open this fall.
“The proximity to the Port Authority along with the tremendous pedestrian count makes this Eighth Avenue corridor an ideal location for fast casual brands. Both Jollibee and Arby’s choosing to locate their Manhattan Flagship stores here further solidifies the strength of this sub-market,” said Daniel Iwanicki, senior vice president of leasing and development at Ashkenazy Acquisition Corporation.
“Jollibee is primed for success at 609 Eighth Avenue given its optimum location near the bus terminal and the neighborhood’s heavy foot traffic,” said Abramowitz. “There is a large Filipino population in New Jersey, many of whom commute through Port Authority every day. This will be a tremendous help in introducing the chain to Manhattan.”
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.