This is Prakas' fourth South Florida lease negotiation for Big Time. In two unrelated transactions, the brokerage firm also represented the buyers and sellers of eateries that changed hands in Boca Raton and Delray Beach for an aggregate of just over $1.5 million.
Prakas represented both the tenant and the owner, Urban Investment Advisors, in negotiating the City Cellar lease. Among his previous negotiations for the restaurant company's city-named units are City Hall in West Palm Beach, City Oyster in Delray Beach and Big City Tavern in Fort Lauderdale.
In a separate transaction, One & Done Inc. paid owner Ted Baxter $1.2 million to buy Surf Café at 395 NE Spanish River Blvd. in Boca Raton. It is a 4,800-sf sports bar and lounge containing pool tables and featuring live entertainment. It has been in operation for10 years.
In another unrelated transaction, Cathy Bivalacque paid $320,000 for Jersey Mike's Sub Shop at 2650 N. Federal Highway in Delray Beach. Arthur Poly, VP of Prakas' business brokerage division, represented Bivalacque and the seller, Greg McMeneman.
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