Smashburger, the Denver-based fast-casual restaurant chain, has signed a long-term lease on 2,204 s/f at the new Riverdale Crossing shopping center in the Bronx.
The deal takes occupancy at the 162,000 s/f center anchored by BJ’s Wholesale Club to 92 per cent as Smashburger becomes the third eatery to open there, joining Subway and Buffalo Wild Wings Grill & Bar .
Joseph A. Farkas, president of Metropolitan Realty Associates (MRA) and the project’s developer, said “Smashburger is a popular, trendy, high-profile burger-oriented restaurant that sets a very high standard for fast-casual dining.
“It’s the kind of restaurant that’s ideal for a shopping center, where having a strong range of food service options is essential to drawing customers and keeping them on the property longer. Smashburger will lend its own brand of excitement to the overall tenant mix and will contribute to making Riverdale Crossing an iconic destination for the New York metro area.”
Smashburger is a “retro”-style hamburger restaurant that specializes in custom-built burgers and other sandwiches, as well as distinctive French fries, shakes, and other side dishes. The chain is known for its distinctive grilling technique, its offering of regional specialties, and its employee training methods.
John Hanlon of CBRE represented MRA in the lease negotiation and continues to market the remaining space for lease. Peter Levine of Charter Realty represented the tenant.
Other retailers that have taken space in Riverdale Crossing include Bank of America and specialty pet-product retailer Petco. The largest tenant, BJ’s Wholesale Club, will anchor the center in a 118,000 s/f free-standing structure on the southeast corner of the property.
MRA is developing Riverdale Crossing with its long-time equity partner, Angelo, Gordon & Co., LP. Located on the site of the former Stella D’Oro Biscuit Co. factory, the center will offer parking on a surface lot and rooftop deck when it opens in 2014.
“We’re getting close to full occupancy now—almost a year ahead of the projected opening date,” Farkas said. “We’re in negotiations with several other prospective tenants, and we’re confident that Riverdale Crossing will be fully occupied when it opens.”