• News
  • SAN DIEGO
  • Real Estate

10-year lease signed at former Borders building

The Cushman & Wakefield of San Diego Urban Property Group reported that Fogo de Chao, an upscale Brazilian Churrascaria-style steakhouse, will open its first location in San Diego. The restaurant will be located in the Gaslamp district at 668 Sixth Ave. (92101). Fogo de Chao signed a 10-year, $4,946,820 lease for 11,372 square feet in a portion of the building that housed former Borders Books & Music.

The lessor, Monro Capital Fund I LP, was represented by Bill Shrader and David Maxwell, of the Cushman & Wakefield Urban Property Group. The lessee was represented by Rob Rowe, of Sierra Realty Advisors.

Bill Shrader, senior director with the Urban Property Group said, “Fogo de Chao has been looking for a while in the area for the right location, a high-volume, high quality destination driven concept like Fogo de Chao is a great addition to the Gaslamp and G Street corridor, they will reinvigorate an already successful dining destination which caters to residents and tourists alike.”

The 33,000-square-foot building is located at the southwest corner of Sixth Avenue and G Street. Constructed in 2002, the building was home to Borders Books & Music until it closed in 2011. IPG Monro Capital Fund I LP acquired the building in June 2012, marking the first acquisition for the newly formed fund. According to Ron Perlman, president of Monro Capital Fund I LP, extensive renovations have commenced at the location converting it to a multi-tenant building. “Former Borders customers will still recognize this facility with its unique exposed brick and glass-wrapped exterior.”

View all comments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
1 UserComments
Michael Mihos 7:44pm October 30, 2012

Are the tenants seeking a bid for the resturant tenant improvements. I'm a General Contractor located in downtown San Diego. Contact Michael Mihos Construction at 619/239-3049

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.