Patterson-Woods Commercial Properties/CORFAC International Facilitates 3,600 Square Foot Retail Lease on Newark's Main Street
Wilmington, DE (May 22, 2015) – Patterson-Woods Commercial Properties/CORFAC International, a leading full-service commercial real estate provider serving the Mid-Atlantic market, today announced the completion of a 3,600-square-foot retail restaurant lease on popular Main Street in Newark, DE, at 270 E Main Street, site of the former East End Café and Mojo Main.
Joe Latina, a principal with the firm, represented both the Landlord, Ntinas, LLC, and the Tenant, OMG Dining, LLC, in the lease negotiations.
Ntinas, LLC, was run by Mrs. Elaine Papatinas (with her husband Stephen Papatinas) who at one time ran their own restaurant at the site, “The Hidden Hearth Restaurant.” When Elaine unexpectedly passed away in December 2014, the property was taken over by her son, daughter and their spouses – Ernie and Barbara Laletas and Christine and John Frangakis. The family was committed to retaining the property to ensure that a restaurant opened at the site, despite numerous offers to purchase the property. Latina marketed the property, identified the tenant, negotiated the lease and worked with the previous tenant in obtaining the liquor license (with the assistance of Mary Ann Heesters).
OMG Dining, LLC, owned by Delaware residents and University of Delaware graduates Jim O’Donoghue and Lee Mikles, signed a five-year lease for the restaurant space, which consists of a 900-square foot patio and a 3,600-SF main dining room with a bar area and stage for entertainment. They plan on renovating and converting the space into a craft-beer themed, neighborhood gastropub known as Grain Craft Bar + Kitchen (www.grainonmain.com). A 40-spot parking lot is also included.
The new restaurant will put emphasis on gathering with friends and family for good times, good food and entertainment. They are expecting to open in late July 2015.
“It was an absolute pleasure to work with Lee Mikles, Jim O’Donoghue and Ntinas, LLC, to bring this iconic Main Street restaurant site back to relevance,” said Latina. “Many thanks to the Laletas and the Frangakis families for their perseverance in keeping this property a restaurant for many years to come as per the wishes of their parents, Stephen and the late Elaine Papatinas. Thanks to Lee and Jim for their determination in bringing their amazing concept ‘Grain Craft Bar + Kitchen’ to life. I wish them many years of success,” Latina added.
Latina specializes in retail and investment commercial real estate with a strong emphasis in the food and beverage sector. He has brokered transactions of several recently opened restaurants on Main Street in Newark, including 16 Mile Taphouse, El Diablo Burritos, Hot Bagels, Primo Hoagies and Colorful Yun Nan.
About Patterson-Woods Commercial Properties/CORFAC International:
Patterson-Woods Commercial Properties/CORFAC International is a leading commercial real estate services firm specializing in the Mid-Atlantic commercial property markets. We have been providing the most complete selection of commercial real estate services to the communities of Delaware, Maryland and Pennsylvania for over 40 years. Patterson-Woods Commercial Properties is a second generation company well known for facilitating solutions to the needs of the business community and developers of real property. For more information on Patterson-Woods/CORFAC International, contact the company's Wilmington, Delaware headquarters at 302-622-3500 or visit www.pattersonwoods.com.
About CORFAC International
CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. In association with global affiliates, CORFAC International offers commercial real estate services with market reach in 48 countries worldwide. Founded in 1989, CORFAC firms completed more than 10,000 lease and sales transactions totaling approximately 400 million square feet of space valued in excess of $7.4 billion in 2014. For more information on the CORFAC network, visit www.corfac.com.