Il Gusto restaurant lease at 114 Chestnut Street
Restaurant Lease | 114 Chestnut Street, Philadelphia | Old City
TRANSACTION
Restaurant Lease
REPRESENTATION
Landlord
SPACE
2,000 SF
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The assignment
The assignment concerned the lease of a 2,000-square-foot retail space at 114 Chestnut Street. In Philadelphia’s Old City neighborhood, the property provided an opportunity for a restaurant operator to establish a location within a historic commercial district.
Billy's role
Billy Creagh of National Realty Commercial represented the landlord in this Philadelphia restaurant lease. His role as restaurant broker covered the owner’s interests and the positioning of the Old City property for a long-term restaurant tenancy.
The outcome
Il Gusto Restaurant leased the space under a 10-year triple-net agreement. The completed transaction established a new restaurant tenancy at 114 Chestnut Street and adds to Billy’s Philadelphia restaurant leasing portfolio, with landlord representation throughout the transaction.
Supporting coverage
Deal at a glance
LOCATION
114 Chestnut Street, Philadelphia, PA 19106
PROPERTY TYPE
Restaurant / retail
LEASE TERM
10 years | Triple net NNN
BROKER
Billy Creagh
Planning your next restaurant move?
Contact Billy Creagh of National Realty Commercial to discuss selling, buying or leasing restaurant property in Philadelphia.