Real Estate Weekly
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Chipotle opens first Bronx outpost

Chipotle Mexican Grill, Inc. has signed a lease for 2,165 s/f at Riverdale Crossing in the Bronx, announced Joseph A. Farkas, president of Metropolitan Realty Associates (MRA), developer of the new 162,000 s/f shopping center.

Riverdale Crossing, slated for a grand opening in July 2014, is now 98 percent leased with the addition of Chipotle.

Riverdale Crossing
Riverdale Crossing

MRA was represented in the signing by John Hanlon of CBRE, who continues to market the last two remaining units at the premier property. Chipotle was represented by Diana D. Boutross and Kenneth Hochhauser of Winick Realty.

For Chipotle, which has more than 900 restaurants nationwide, Riverdale Crossing marks its first location in the Bronx.

“Riverdale Crossing’s location has attracted a strong mix of national, regional and local retailers and services,” said Farkas.

“It is a premium retail property in a densely populated area accessible by subway, bus, car and by pedestrians. All of those ingredients spell success for this development.”

The newest tenant joins a tenant roster anchored by a freestanding 118,000 s/f BJ’s Wholesale Club. Others include Bank of America, T-Mobile, Petco, Subway, Buffalo Wild Wings Grill & Bar, Smashburger and the recently-signed CityMD, a Manhattan-based urgent-care provider.

MRA is developing Riverdale Crossing with its long-time equity partner Angelo, Gordon & Co. The five-acre site is located between the Major Deegan Expressway and Broadway, and adjacent to New York City’s busy 238th Street subway stop. The center also offers both surface parking and a rooftop deck.

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