Taco Bell Cantina Debuts in NYC
The fast-food franchise's new location will be strategically situated in a highly transited Manhattan corridor and will welcome its first customers by the end of this year.
By Corina Stef
500 8th Ave.
Walter & Samuels has added Taco Bell to the tenant roster of one of its Manhattan assets. After the fast-food franchise introduced its Cantina concept in Orlando, Fla., Taco Bell is now bringing the same brand to New York City by signing a 10-year, 2,451-square-foot lease, Yardi Matrix data shows. The location is slated to open by the end of 2018.
The property is located at 500 Eighth Ave., in the borough’s Hell’s Kitchen neighborhood. Situated in the midst of the Penn Station corridor, it is surrounded by retailers, restaurants, landmarks, as well as Herald Square and the up-and-coming Hudson Yards mega-complex. The property comprises 228,324 square feet across 12 floors, including 28,000 square feet of retail space.
Diverse roster of national tenants
Notable tenants of the property include Staples, Pearl Studios NYC and Amlotus. Following Taco Bell’s lease, the building has a 7,701-square-foot ground-floor vacancy, featuring 17-foot ceilings and 60 feet of frontage. An additional 9,218 square feet of retail space on the lower level is for sale.
“Together with ownership, we recognized that Taco Bell Cantina would be an asset to the building as the launch of its New York City presence would attract not only office workers in and around the Eighth Avenue corridor, but also customers coming from the Fashion District and Times Square as well as commuters from Penn Station and Port Authority,” said Winick Realty Group Executive Vice President Lee Block, in a prepared statement.
Block and Winick Realty Group Executive Vice President Danielle Winick, together with CEO Jeff Winick, represented the landlord in the lease transaction. JLL acted on behalf of the tenant.
Image courtesy of Walter & Samuels
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