Overview of the Transition

In a significant shift for the East Harlem dining scene, Guacado, a Mexican eatery operated by Guac Time Mexican Grill, will take the place of Taco Bell this fall. The restaurant will occupy a corner location at 1884 Third Avenue, enhancing the variety of options available in the area.

Details of the Lease Agreement

Guacado has secured a new 15-year lease for 2,575 square feet on the ground level of a four-story commercial building owned by John Lemarier. The lease was negotiated with an asking rent of $85 per square foot, as reported by tenant broker Meridian Retail Leasing.

Insights from the Brokers

Noam Aziz from Meridian, along with his colleague Carson Shahrabani, highlighted the desirable attributes of the location. “This is exactly the kind of corner retail that tenants are chasing right now,” Aziz stated. He further emphasized the benefits of high visibility and significant foot traffic, which are expected to support Guacado’s performance from the outset.

Shahrabani remarked on the selective nature of retailers in the current market, noting the importance of locations that possess strong fundamentals, such as this one. “We were able to negotiate favorable terms that give the tenant room to grow while delivering a high-quality operator for the landlord. Everyone wins,” he concluded.

Growing Presence of Guacado

This upcoming location marks the second establishment for Guacado, which will also be launching another branch in Brooklyn. Their arrival on the corner of East 104th Street and Third Avenue is anticipated to add vibrancy to the surrounding commercial landscape.

Neighborhood Eating Establishments

Guacado will join several existing fast-food establishments in the vicinity, including a McDonald’s at 1872 Third Avenue and a KFC at 1922 Third Avenue. This new addition promises to provide East Harlem residents with another flavorful dining option.