Panera Bread will set up a new flagship outpost at Hearst Tower, located at 949 Eighth Avenue, where it will occupy a corner space on West 56th Street, Commercial Observer has learned.
The chain of fast-casual cafés took 2,510 square feet for an undisclosed number of years on the ground floor of the 46-story building, where it plans to open a flagship location this year, according to landlord Hearst Corporation. Asking rent was $250 per square foot.
“We are confident that Panera will benefit from the ideal location and best-in-class tenant experience that Hearst provides,” Lou Nowikas, who represented Hearst in-house, said in a statement.
Cushman & Wakefield’s Sean Moran, Steven Soutendijk and Patrick O’Rourke helped Nowikas steer the deal for Hearst, while Andrew Mandell and Sam Martorella of Ripco Real Estate brokered it for Panera.
A spokesperson for RIPCO did not immediately respond to a request for comment.
The storefront was formerly home to Balducci’s Food Lovers Market which has been shuttered for at least a year.
Mark Hallum can be reached at email@example.com.