207 Seventh Avenue
Yogurtland, was a thriving frozen yogurt franchise, and held a strong presence during their tenure near P.S. 321 at the corner of Seventh Avenue and Third Street in the middle of leafy Park Slope, until a decision was made to downsize the entire region – leaving the owner of 207 Seventh Avenue suddenly left with a vacant storefront.
About this Space
Following an in-depth marketing process, TerraCRG Leasing wrapped the entire storefront in a 9-foot high, custom-created signage, and went to work bringing brokers and tenants to the space. Within a few weeks there were several full-ask proposals from a number of new and established tenants, drawn to the corner location with outdoor seating.
Ownership did not want to hear about new health concepts and fast growth. They were looking for stability. Knowing that Juice Press had recently opened a dozen locations was a yellow flag.
Park Slope’s reputation for expensive brownstones and top schools is a huge draw for health-food retailers and it was an obvious choice for Juice Press, which built a large following of cold-pressed juice lovers around New York City that is nationally expanding.
The owner understood the sophistication of the tenant, but was concerned that the concept would suffer a similar fate as Yogurtland, and initially refused a full-price proposal with good terms.
Juice Press successfully opened in June of this year!
While they checked all the boxes, ownership struggled with typical security deposit and the clause.
Only after deep conversations between principals and a heavy exchange of financial documents did the owners of the building see the financial backing of the business and the strength of its sales.