Industry News | February 28, 2012
Five Guys Signs Two Long-Term Leases in New Jersey
RKF, the country’s leading independent real estate firm specializing in retail leasing, investment sales, and consulting services, recently arranged two long-term retail leases in Morris County, New Jersey, for Five Guys Burgers & Fries.
The exclusive retail leasing broker for the Five Guys Burgers & Fries franchisee in Morris, Passaic, and Sussex counties, RKF has helped the franchisee expand in New Jersey.
RKF Managing Director Glenn Beyer arranged the 2,689-square-foot retail lease at 240 Route 10 West, at the corner of Murray Road in East Hanover, New Jersey, on behalf of the franchisee, Genco Development, LLC d/b/a Five Guys Burgers & Fries. Building owner and developer Vornado, Hanover VF, LLC was represented in-house.
The restaurant is expected to open in March.
Beyer also represented the quick-casual restaurant in the leasing of a 2,379-square-foot retail space at 808 Route 46, located at Westmount Plaza, a 420,000-square-foot power center in Parsippany, N.J. New Jersey-based owner and Developer Garden Commercial Properties, Westmount Plaza, LLC represented the landlord in-house.
The store is anticipated to open this month.
“Five Guys wanted to relocate to a space within the same trade area in Parsippany and found the most ideal location in Westmount Plaza among co-tenants like ShopRite, Kmart, Bed Bath and Beyond, Home Depot, and others,” Beyer says.
“In East Hanover, the gourmet hamburger chain saw the opportunity to penetrate a new market with a highly visible space at a dominant shopping center including national chains Dick’s Sporting Goods and Home Depot.”
Five Guys Burgers & Fries was founded in 1986, opening its first location at Westmont Shopping Center in Arlington, Virginia. The gourmet food chain has grown to more than 625 franchises in 40 states and four Canadian provinces, and continues to sell its famous hamburgers, hot dogs, and french fries.
In New Jersey, Five Guys Burgers & Fries currently has 30 stores, with the Denville, Madison, Wayne Parsippany, and East Hanover locations belonging to Genco Development, LLC.
Food & Beverage
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