Hai Di Lao Hot Pot to open first East Coast location in New York City
– Popular Global Restaurateur Drawn to New Flushing Commons project in Queens
New York, March 19, 2018 – One of China’s best known and most popular restaurants is coming to New York City, with plans to soon open its first East Coast location at Flushing Commons, a new mixed-use office, residential and retail development in Queens. Hai Di Lao completed a long-term lease for approximately 12,000 square feet of space on the second floor of 38-18 Union Street, recently completed as part of Phase I of Flushing Commons.
A Colliers International NY team led by Jonathan Plotkin, Executive Managing Director, and Kenny Yip, Associate Director, represented owner Flushing Commons Property Owner LLC, a partnership of F&T Group, Rockefeller Group and AECOM Capital, in the transaction. Yin Li, Managing Director and Savills Studley’s Head of China Operations, represented Hai Di Lao in the transaction.
Hai Di Lao, which will become the first retail tenant at Flushing Commons, operates in excess of 100 locations in cities across China, with additional sites in Singapore, South Korea and the western United States. The restaurant utilizes the freshest, healthiest, heartiest ingredients to produce authentic, traditional Sichuan-style hot pot in a modern dining environment with superb customer service. Hai Di Lao’s popularity domestically and overseas has been known to create over two hour waits just to sample some of its delicacies.
According to Mr. Plotkin, “A Hai Di Lao restaurant at Flushing Commons is a major coupe on many levels for many different groups. In leasing a Flushing location, the company can tap into the largest Asian market in New York City — where much of the population already knows the brand. Hai Di Lao will also benefit from its location on a heavily trafficked retail corridor across from a bus termination hub and steps from the 7 train Main Street station with over 19 million riders annually. All this in addition to the fact that the space at Flushing Commons is in a brand-new development that promises to reshape the community. New Yorkers gain an innovative new dining option with a food experience unlike that seen anywhere in the Eastern U.S.”
Bordered to the north by 37th Avenue, the south by 39th Avenue, the west by 138th Street and the east by Union Street, Flushing Commons is planned to eventually encompass more than 164,000 square feet of prime medical and professional office condominiums, nearly 600 residences and approximately 120,000 square feet of retail space in five buildings. The development has been a welcome addition for families and commercial tenants seeking a true community within New York City.
According to members of the partnership co-developing the project, there has been continued strong demand for the first retail opportunities at Flushing Commons, which are being marketed and curated deliberately to ensure a tenancy and retail mix that will benefit the first residents and tenants of Flushing Commons, as well as the greater Flushing community. According to Mr. Plotkin, a world-class food experience is the right first addition to the project, and he expects interest and leasing activity to accelerate as a result.