Rosa Mexicano Restaurants has signed a lease with Grosvenor Americas for 7,304 square feet of ground floor retail space within 5225 Wisconsin Avenue, a 93,000 square foot office building in the Chevy Chase submarket of Washington, D.C.
Stephen Combs, Phil Ruxton, and Jordan Rabin of KLNB Retail represented Grosvenor Americas and Les Sax of Sax Realty represented the tenant in this transaction.
Rosa Mexicano intends to occupy the space formerly occupied by Bambule Bistro. The building, which is immediately adjacent to the Friendship Heights Metro station, houses two additional retail tenants: Elizabeth Arden Red Door Spa and FedEx Office.
The new restaurant, which is expected to open in November, will be the third Rosa Mexicano restaurant in the Washington, D.C. metropolitan area and the 13th nationwide. The other two national capital area restaurants are located in the Penn Quarter of Washington, D.C. and National Harbor in Prince George’s County, Maryland. Rosa Mexicano’s most recently opened new restaurant is in Miami’s iconic South Beach neighborhood.
“Rosa Mexicano is a proven traffic generator, the tenant build-out is impressive, and this operator will bring a new level of awareness and participation to the Friendship Heights retail and restaurant scene,” said Perry Reith, Senior Asset Manager, Grosvenor Americas. “With Metro just steps away, we expect people to come from a wide radius to enjoy pomegranate margaritas, fresh guacamole prepared tableside, and everything else that has made Rosa Mexicano a coast-to-coast success. The restaurant will provide a significant amenity for our existing office tenants, as well as guests in our nearby hotel.”
“Because we perceived the Chevy Chase sit-down restaurant marketplace as under-served in the mid-priced category, we specifically targeted Rosa Mexicano to fill this void,” explained Stephen Combs, Principal with KLNB Retail. “The chain’s first two locations in the Washington metropolitan area are performing exceedingly well, attracting an impressive volume of traffic during the lunch and dinner periods, and have generated great energy for the surrounding retail mix. Our ability to educate them about this site and successfully direct them to 5225 Wisconsin Avenue resulted in a major win for this area,” he added.
Rosa Mexicano first opened in New York City in 1984, introducing New Yorkers to authentic, modern Mexican cuisine. Its new generation of restaurants from Los Angeles to Miami features dramatic architectural details such as cascading water walls against a vibrant palette of purples, pinks, reds and oranges. Zagat Survey has recognized Rosa Mexicano as “the gold standard in upscale modern Mexican cuisine.”
Grosvenor Americas owns a total of more than 153,000 square feet of mixed-use space in the Friendship Heights neighborhood with retail tenants that include Saks Jandel, Brooks Brothers, and Sur La Table, as well as the 226-room Leadership in Energy and Environmental Design (LEED®) Gold-certified Courtyard by Marriott Chevy Chase hotel at 5520 Wisconsin Avenue.
Grosvenor is a privately-owned property group with offices in 18 of the world’s most dynamic cities. It has five regional investment and development businesses in Britain & Ireland, the Americas, Continental Europe, Australia and Asia Pacific. Its international fund management business operates across these markets. As of December 31, 2009, these six businesses had total assets under management of US$16.4bn. Unusual for a private company, Grosvenor publishes a full Annual Report & Accounts, available at www.grosvenor.com.