Lease Beat

Sweetgreen Eatery Crunches Down in TriBeCa With 10-Year Lease

Washington, D.C.-based fast casual salad eatery sweetgreen is coming to TriBeCa after signing a 10-year lease at 413 Greenwich Street, The Commercial Observer has learned.

The 1,100-square-foot space was the perfect opportunity for the rapidly expanding restaurant to break into the New York City market, while taking advantage of the residential and office population in the neighborhood.

“There’s no concept like them in the neighborhood and they will leverage the demand from the Citibank headquarters across the street,” said Newmark Grubb Knight Frank’s Ross Kaplan, who represented the landlord, a longtime owner of the single space building, with Jason Pruger.  “We had a lot of offers in from restaurants and bars that would stay open late, but the owners wanted something that wasn’t invasive.”

(Credit: Sweet Green)

(Credit: Sweet Green)

Launched by three Georgetown University students in 2007, the eatery, which offers an array of salads, wraps, yogurt and organic pressed juices, has more than a dozen locations throughout the northeast, mostly in the D.C. area.

The eatery also recently signed a lease in Boston and plans to add several more in the New York City area.  Asking rents at the TriBeCa space were $23,000 per month.

Jacqueline Klinger of The Shopping Center Group led the team that represented the tenant.  Ms. Klinger declined comment.

In February, Mr. Kaplan and Kate Cohen represented Lovely Bridal Shop in its 10-year, 4,500-square foot lease 182 Duane Street in TriBeCa.

In December, Mr. Kaplan represented the landlord in bringing Au Bon Pain to 111 Fulton Street in the Financial District; Ms. Klinger represented the tenant in that deal.  That same month Mr. Kaplan represented the landlord at 111 Fulton Street in a 7-eleven lease; and he was part of the team that represented CVS Pharmacy at 454 West 54th Street.

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