L&B Realty, a major real estate investment manager in the United States, was seeking a tenant for a ground floor prime retail space in a high-rise residential development on an important retail corridor. The firm solicited applications from several retailers and ultimately decided on Fairway Market, a supermarket that provides an extensive selection of fresh, natural and organic products, prepared foods, specialty offerings and conventional groceries.
Role + Responsibilities
Zubatkin was originally engaged to assist L&B Realty in the due diligence evaluation and review of two prospective tenants from a technical and construction standpoint. Following Fairway’s selection as the tenant, the Zubatkin team assisted in the review and construction of the market’s overall operations, including food storage systems, retail spaces for the store’s individual specialty departments, and the mechanical building systems. Integral to the work was the alignment of the specialty requirements of the tenant fit-out with the commercial and residential occupancy of the building.
This Fairway Market, successfully opened in 2011, and is now one of the most popular specialty food stores on New York City’s Upper East Side.