Jollibee is betting on Times Square.
The popular Filipino fast-food chain has inked a lease to open a 7,127-square-foot flagship at 1500 Broadway, between West 43rd and West 44th streets. The space includes 3,127 square feet of ground floor retail space as well as 4,000 square feet on the lower level.
Jollibee has more than 1,300 locations worldwide, but just two other New York City locations, at 6229 Roosevelt Avenue in Woodside and 609 Eighth Avenue in Midtown. When the original Manhattan location opened in 2018, fans of the brand waited in hours-long lines to sample its popular Chickenjoy — a dish of fried chicken with rice and gravy.
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CBRE’s Amira Yunis, Anthony Stanford, Henry Rossignol and Elliot Ferris facilitated the negotiations for the transaction, representing both the tenant and landlord Tamares Real Estate. The building’s other retail tenants include Starbucks and Citizen Watch.
Fast-food restaurants have done well in the pandemic. They paid 92 percent of their rent in the month of January, according to a report by Datex Property Solutions.