Wasabi Sushi Renews 3K-SF Garment District Eatery
By Mark Hallum May 9, 2023 10:48 am
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If you haven’t bento to this sushi joint, you still have time.
Wasabi Sushi & Bento renewed its 3,400-square-foot lease at 561 Seventh Avenue, which it originally moved into in 2014, for 12 years, according to landlord Handler Real Estate Organization.
Handler did not disclose the asking rent for the building between West 40th and West 41st streets, but the average retail asking rents on Seventh Avenue between 42nd and 47th Streets was about $1,315 per square foot in the first quarter of 2023, according to a CBRE a recent report.
“Seventh Avenue will continue to be the cornerstone location for our U.S. business, and we look forward to many more years of successful trading,” Henry Birts, Wasabi’s CEO, said in a statement. “We are particularly pleased to be renewing our lease, having navigated the numerous COVID-related challenges the industry has faced over the past three years.”
Handler CEO Scott Galin represented the landlord in-house with Darell Handler and Kyle Galin. The tenant did not use any outside brokers.
“Wasabi has been a tremendous tenant, doing significant business as our retail anchor,” Scott Galin said in a statement.
The location serves as Wasabi’s U.S. flagship store while many of its 44 restaurants are situated in the United Kingdom.
Mark Hallum can be reached at mhallum@commercialobserver.com.
