Fried chicken fast food chain Popeyes signed a lease for 6,165 square feet on the ground floor and on the second floor of Bow tie partners‘ 1530 Broadway between West 44th and West 45th streets, the New York Post first reported. The asking rent was $ 800 per square foot, according to the tenant broker Louis Franco of Isa Real Estate Group.
Popeyes’ new spot in the heart of Times Square puts it directly next to the competitor Mcdonalds, and is part of the retail space formerly occupied by the Toys r us lighthouse – known for its Ferris wheel and huge dinosaur – which closed in 2015.
The Miami-based fast food chain launched a push to Manhattan in 2015, most recently taking 5,000 square feet to 14, 23rd Street East, and plans to open its Times Square outpost in the spring or summer of next year, Franco said.
âIn 2019, Popeyes made a breakthrough in Manhattan and saw its sales remain strong despite the pandemic,â Franco said in a statement. âAs Times Square demanded lower rents, we felt there was no better opportunity for Popeyes to secure a flagship location and bet on New York. “
Franco represented Popeyes in the case, while Zach Nathan, David Green and Brad mendelson of Necklaces managed it for Bow Tie Partners. A spokesperson for Colliers did not respond to a request for comment.
Nicholas Rizzi can be reached at [email protected].