The Tun Tavern restaurant lease at 205 to 207 Chestnut Street
Restaurant Lease | 205–207 Chestnut Street, Philadelphia | Old City
TRANSACTION
Restaurant Lease
REPRESENTATION
Landlord
SPACE
2,400 SF
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The assignment
The assignment involved leasing 2,400 square feet of retail space at 205–207 Chestnut Street. The Old City property offered an opportunity to bring a restaurant operator to a prominent commercial location in one of Philadelphia’s established historic districts.
Billy's role
Billy Creagh of National Realty Commercial represented the landlord in the restaurant lease. His Philadelphia restaurant brokerage role covered the owner’s interests and the positioning of the Old City space for a long-term tenancy.
The outcome
The Tun Tavern, operated by Montgomery Dahm, leased the restaurant space under a five-year triple-net agreement. The published asking rent was $67 per square foot. The completed lease adds to Billy’s Philadelphia restaurant leasing and commercial real estate portfolio.
Supporting coverage
Deal at a glance
LOCATION
205–207 Chestnut Street, Philadelphia, PA 19106
PROPERTY TYPE
Restaurant / retail
LEASE TERM AND ASKING RENT
5 years | Triple net NNN | $67/sf asking rent
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.