Philips International announced that Restaurant Depot, Inc. has signed a 15-year lease for at 65,267 s/f of retail space at Riverhead Plaza, the shopping center at 765 Old Country Road in Riverhead, LI.
Robert Tunis and Jared Rutledge of Colliers International represented the tenant, Restaurant Depot, in the transaction; Andrew Aberham of Philips International and Gary Brody of Brody Realty Corp. represented the landlord.
“The property’s location along Country Road 58, less than two miles from the Tanger Outlets and only 25 miles from Southampton, is ideal for Restaurant Depot,” said Seth Pilevsky, co-president of Manhattan-based Philips International.
“The area has a concentration of Restaurant Depot’s target customer base, including local and acclaimed restaurants, vineyards and tourist-attractive farms, making it the perfect location to serve businesses on both the North and South Fork of Long Island.”
Restaurant Depot is a members-only chain selling wholesale food, beverages, equipment and supplies for restaurants and bars. They operate over 130 stores in 30 states. It sells wholesale and retail items, including bulk fresh produce, seafood, meats, frozen grocery items, restaurant equipment and supplies, beer, wine and spirits.
The space leased by Restaurant Depot was previously occupied by Walmart until its departure in 2014. 46,733 s/f of the original Walmart space is still available for lease.
“Tenants at the Riverhead Plaza continued to thrive, even after Walmart’s departure, due to the strength and resiliency of the Riverhead submarket,” said Pilevsky.