Mexican Restaurant Guacado to Open 3K-SF Eatery in East Harlem

Mexican eatery Guacado will be replacing a Taco Bell in East Harlem in the fall.

Guacado, owned by Guac Time Mexican Grill, signed a 15-year lease for 2,575 square feet on the ground floor of 1884 Third Avenue, a four-story commercial building owned by John Lemarier, according to tenant broker Meridian Retail Leasing. Asking rent was $85 per square foot.

“This is exactly the kind of corner retail that tenants are chasing right now,” Meridian’s Noam Aziz, who brokered the deal for the tenant along with Carson Shahrabani, said in a statement.

“High visibility, strong foot traffic and the kind of built-in neighborhood demand that allows operators like Guacado to plug in and perform from day one,” Aziz added. “It’s a smart move for the brand and a strategic one for the landlord.”

ABS Real Estate Partners’ Cooper Katz and Mark Tergesen represented the landlord. Katz declined to comment, while spokespeople for Guacado and the landlord could not be reached for comment.

The deal represents a second location for Guacado, which is opening another restaurant in Brooklyn, Meridian said. The Mexican restaurant will replace Taco Bell at the building on the corner of East 104th Street and Third Avenue.

“Retailers are being selective in today’s market, but there’s strong appetite for locations with fundamentals like this one,” Shahrabani said in a statement. “We were able to negotiate favorable terms that give the tenant room to grow while delivering a high-quality operator for the landlord. Everyone wins.”

Guacado will join several nearby food tenants in East Harlem, including McDonald’s at 1872 Third Avenue and KFC at 1922 Third Avenue.

Isabelle Durso can be reached at idurso@commercialobserver.com.