Industry insiders are taking notice and giving the deal high marks. "It's perfect for Neuhaus," according to Jane Fincke Orenstein, vice president of leasing and management at Jones Lang LaSalle. "That area is just a Mecca for people looking for food on both the entertainment and gift side."

When it comes down to cost, "the $200 per sf figure Neuhaus paid is a good price," Orenstein explains. "For the quality of the area and the size of the store, Neuhaus made a good move here."

Caran Properties Inc. owns the building. In its negotiations for the deal, Robert Kinsey of Robert Futterman & Associates represented Neuhaus. Garrick-Aug Worldwide's Faith Hope Consolo is the broker on record for the owner.

"On the ownership side, we at Caran Properties are looking forward to having Neuhaus as a tenant and finalizing the lease," Sherry Frankel, president of Caran says. She notes the company's strategy has been to increase the area's desirability by drawing a mix of retail tenants.

"About a dozen tenants were looking," says Consolo. "Neuhaus really wanted this space and was willing to reach to make it happen."

"The layout will be very visual and provide for a very open display of the chocolate, which is very unusual and unlike chocolate retailers like Godiva who have everything boxed," relates Kinsey, director/restaurant and specialty food at Futterman.

Instant Insights /

International Chocolatier Opening Broadway Market, Kicks Off National Rollout

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