TRADE AREA CRITERIA
• Near dense daytime populations, including central business districts, business parks, industrial parks, hospitals, and colleges
• In retail areas with strong traffic
• Daytime employee population greater than 8k+ within a 3-minute drive time and greater than 20k+ within a 5-minute drive time
• Residential overall population greater than 40k+ within the defined trade area
• Age- a large concentration of 18-54-year-old population
• Median income greater than $50K+
• Strong mix of white-collar, service professionals, and college students
• Shared pad, end cap, or out-parcel with a drive-thru(s) is preferred; in-line with good visibility from the street.
• Strong visibility, easy ingress, and egress access, and ample parking
• Full turn access from both main and side arteries
• 600-2,000 square feet with a minimum of 20' of frontage
• Strong national/regional co-tenants, both food, and retail
• Outdoor seating strongly preferred, shared (common) space is acceptable.
• Parking 12 spots per 1000 sq feet, minimum 18
• Groucho’s Deli standard sign to maximum size per code/ center requirements; two signs are preferred for end-caps locations.
• 5-year base term with a minimum of one 5-year option (three preferred)
• No percentage rent or radius restrictions
MINIMUM SITE CONDITION AND TENANT IMPROVEMENTS
• 400 amp, 120/208 or 120/240 volt, 3-phase, 4-wire electrical service stubbed to the main distribution panel in the premises and furnished with meter, circuit breakers, and disconnect as required by code
• Minimum 1 ton per 150 square feet of HVAC
• 1 3/4" water line rated at a minimum of 45 psi and 4" sewer line stubbed to the rear of the premises
• Gas service, if available, including meter to the premises
• 2 ADA restrooms located per Groucho’s Deli approved plan or $18,000 credit
• Minimum 10' ceiling AFF. Drywall finished to the roof deck, taped, sanded, and ready for paint.
• Grease interceptor or trap, per local ordinance
• All service tap fees, impact fees, meter fees, and development fee paid by the landlord
• Fire protection to code