JUST LEASED
LOTUS GARDEN RESTAURANT
San Bernardino
Restaurant Realty leased Lotus Garden Restaurant located at 111 E. Hospitality Lane in San Bernardino
The Wang family, the landlord operated a Chinese restaurant at 111 E. Hospitality Lane, San Bernardino for over 40 years, closing in March 2020 due to Covid. The building is 8,000 square feet on a 1.49 acre lot with 259’ frontage on Hospitality Lane and looks like a palace luxuriously decorated, The interior is beautifully decorated with tasteful furnishings and a water fall at the entry. The family held many fond memories and the decision to lease was very emotional. The landlord was able to be selective, choosing only to sign a lease with a financially qualified tenant, but a tenant who would also respect the premises.
They retained RRC and Broker Associate Jonathan Ferrini to find a “credit” tenant to take over the turn-key restaurant. After one year of aggressively marketing the restaurant for lease, and turning away many proposals, the Wang’s chose to lease the premises to ‘KALVERAS’, a rapidly expanding, fast-casual restaurant, incorporating innovative design with Latin American culinary and mixology menu items referencing the festive day, “El Dio de Los Muertos”.
https://www.kalaveras.com/about
The premises was leased for ten years, “as is”, with rent abatement. The tenant will completely renovate the premises with an anticipated budget of $400,000 to $500,000.
RRC wishes the Wang’s congratulations on their new tenant and wishes the Kalaveras group much success in their new venture.
The Restaurant Dealmaker
