March 3, 2022 9:30 AM
Newmark Retail announces it has completed a 10,500-square-foot sublease for the first New York location of Louisiana-born seafood chain Krab Queenz Seafood at 100 West 125th Street in Harlem. Newmark Vice Chairman Jeffrey Roseman and Senior Managing Director Craig Slosberg, along with Leo Greco, Executive Managing Director with ExcessSpace, A Newmark Company, represented the sublandlord, Darden Restaurants. Krab Queenz Seafood was represented by their exclusive broker, Paul Fetscher, CCIM, President of Great American Brokerage Inc.
The restaurant concept started in Baton Rouge, Louisiana. Since then, Krab Queenz has expanded across the southern U.S. and set its sights on New York as the next market to enter. The fully built, turn-key restaurant space at 100 West 125th Street, formerly occupied by Olive Garden, proved a perfect location for Krab Queenz to open its first New York location. The in-place infrastructure and existing buildout allow the brand to test the market without the significant costs of building out a new restaurant.
“The recovery of the hospitality sector is in full force, and second-generation space has been in high demand,” said Slosberg. “It is a great solution for brands that are new to the area, allowing them to test the market with a lower initial investment.”
Krab Queenz offers Louisiana-style seafood platters and creative signature daiquiris in a casual atmosphere. The brand has a strong social media presence which has helped drive its expansion. The new restaurant is projected to open during the second quarter of 2022.
The second-floor restaurant space is located directly above a Whole Foods Market on an active retail corner. Additional co-tenants in the project include TD Bank, Raymour & Flanagan, Burlington, American Eagle, Victoria’s Secret and Bath & Body Works.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.9 billion for the year ending December 31, 2021. Newmark’s company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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Newmark Retail Secures Sublease for First New York Location of Krab Queenz Seafood in Harlem
March 3, 2022 9:30 AM