Lease Beat

Sugar Factory Signs Sweet Deal at Barclays Center

Barclays Center. (Bruce Damonte)

Barclays Center. (Bruce Damonte)

Come September, Barclays Center will be home to New York City’s second Sugar Factory. The Las Vegas-based cafe and sweetery chain signed a lease on May 15 for 4,000 square feet on the ground floor of the arena, Commercial Observer has learned.

The asking rent in the 15-year deal at the major sports and entertainment venue, at 620 Atlantic Avenue, was $200 per foot, a source with knowledge of the deal said.

Sugar Factory opened its first New York City store in a 3,000-square-foot space at 46 Gansevoort Street in April 2013, serving all meals plus late-night dining and lots of desserts.

The sweets aficionados chose the Forest City Ratner Companies-designed Barclays Center over Madison Square Garden for its second New York City location, said Jack Terzi, founder and CEO of JTRE, who represented the tenant, because “it’s a brand new arena.” He added: There is “a lot of action in Brooklyn right now.”

Mr. Terzi hopes to open another five to seven locations for Sugar Factory in the city.

The arena was represented in-house. Barclays declined to comment.

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