In First Retail Deal, LEED Gold 11 Times Square Inks Russian Restaurant Chain

It’s taken a while, but SJP Properties has signed up its second tenant at 11 Times Square. But this time it’s a deal for about half of the LEED Gold-certified tower’s retail space with a Russian restaurant concept.

11 Times Square gbnyc

It’s taken a while, but SJP Properties has signed up its second major tenant at 11 Times Square. But this time it’s a deal for about half of the LEED Gold-certified tower’s retail space. The lease is also notable because it’s the first sizable one since Proskauer Rose signed up for half of the building’s office space (400,000 of 1.1 million square feet) nearly two years ago before construction was complete.

The deal is actually with Global Food International Corporation – a Russia-based worldwide restaurant chain – for 25,000 square feet on the ground floor and mezzanine levels. There are few details about the yet-to-be-named restaurant other than that it will feature an open kitchen and “international cuisine,” according to the Wall Street Journal. Although particulars of the current deal aren’t clear, SJP’s asking rents for the retail space have reached $500 per square foot (for the ground-floor space, at least).

Whether this particular restaurant is the marquee tenant that SJP craved for the highly trafficked space across the street from the Port Authority Bus Terminal and adjacent to 42nd Street remains to be seen as significant retail space (30,000 of a total 55,000 square feet) remains to be leased.

In addition to the whimsical aquarium concept from a Toronto developer, other tenants that have considered retail space at 11 Times Square include CVS Pharmacy and Buffalo Wild Wings (whose only New York City location currently is in Brooklyn’s Atlantic Terminal Mall).

about gbNYC

gbNYC is a multi-disciplinary consulting and real estate services firm. In addition to representing office tenants and commercial buyers in leasing and acquisitions, we also provide innovative consulting solutions from a unique, green building perspective. We advise on green building financial incentives, comment on proposed green building marketing strategies, author white papers, treatises, and market analyses, organize seminars on the LEED process and professional accreditation, and provide advice and analysis on green building risk management and the overall state of green real estate, leasing, and construction, in New York City and beyond.

Our blog, the gbNYC+ journal of real estate, law, + sustainability, delivers consistent, original content - from a New York City perspective - on how technology, data, and sustainability are changing how we interact with our built environment. Subscribe below and receive new articles as they're published or connect with our social media presence to join our ongoing conversation about real estate and sustainability, in the Big Apple and beyond. Contact us at (201) 835-8530 or for more information about our services and to discuss how we can assist you.



  1. In City's 3rd Largest 2012 Deal, Microsoft Boots Up 11 Times Square Lease | gbNYC Real Estate Group | Commercial Real Estate & Green Buildings in New York City - Sunday, February 22, 2015

    [...] years to land Proskauer Rose as its anchor tenant. Early in 2012, the first retail tenant – a 25,000-square-foot restaurant concept – signed up. But successfully wooing Microsoft – which had considered downtown spaces, [...]