Leases  ·  Retail

Carrot Express Continues Expansion Out of Miami With Two New NYC Leases


Health food restaurant Carrot Express is opening its second and third New York City outposts on the ground floor of Property Group Partners600 Lexington Avenue and 135 West 41st Street, Commercial Observer has learned.

The company has 17 locations in South Florida but only recently ventured out of the Sunshine State, opening an eatery in the Flatiron District at 18 West 23rd Street. Carrot Express plans to soon open its West 41st Street near Bryant Park and has recently signed a 15-year, 2,443-square-foot lease in Midtown East, according to Cushman & Wakefield (CWK).

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All three locations measure about 2,500 square feet each, Steven Soutendijk of C&W said. Asking rent in both new sites was about $40,000 per month.

“They’re investing in more stores in New York, and there’s competition for space. We have to be really aggressive. We have to be thoughtful and move quickly,” Soutendijk told CO at Innovating Commerce Serving Communities (ICSC) New York. “Even though the return to office is spotty, Tuesday, Wednesday and Thursday there is enough business. Monday is getting busier, Friday is getting busier. It’s tracking up every week.”

Soutendijk, Patrick O’Rourke and Sean Moran represented the tenant in the deal while Michael Azarian and James Ariola, also from C&W, negotiated on behalf of the landlord.

Multiple brokers on the first day of the event at Javits Center on Wednesday echoed Soutendijk’s analysis of the retail leasing market, describing an environment where the potential of consumer spending is pushing the limits of how far landlords and tenants will go to get a business off the ground.

Mark Hallum can be reached at