Cushman & Wakefield Negotiates Restaurant Lease at Park Tower

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Cushman & Wakefield announced that it has negotiated the lease of a 2,757-square foot restaurant at Park Tower. Cushman & Wakefield’s Rick Kaplan, Robert Lambert and Matt Moore represented the ownership in the transaction.

Chef Amar Santana and business partner Ahmed Labbate leased the space with plans to open their second restaurant named “Vaca” in the summer of 2015. “Vaca” will offer traditional Spanish cuisine with a creative twist and a wide variety of steaks from grass fed Argentinian beef to true Japanese Kobe. Focusing on small and shared plates, Santana plans to create an adventurous menu including paella, bocadillos (Spanish sandwiches), cured Spanish meats and an assortment of house-made charcuterie.

The duo is returning to Costa Mesa three years after opening the successful Laguna Beach restaurant Broadway By Amar Santana. Both previously from Charlie Palmer at South Coast Plaza, they are excited to return to the city they called home since moving from New York in 2007.

“I’ve always wanted to open a playful Spanish restaurant where my favorite foods are the star. I want eating at “Vaca” to be a culinary adventure every time,” said Santana.

The restaurant, located adjacent to the Segerstrom Center for the Arts and South Coast Plaza in Costa Mesa, will serve lunch and dinner. The décor will feature an open kitchen, a wood-burning grill and two outdoor patios. Continuing the excellence of Broadway’s cocktail program the “Vaca” bar will specialize in craft cocktails, specialty gin and tonics, house sangrias and unique Spanish wines.

“Costa Mesa is a special place for us and we are excited to add “Vaca” to its growing culinary line-up,” added Santana.

“We are pleased to have such an exciting chef open a restaurant at Park Tower. It will be an incredible amenity for the building and a great addition to the South Coast Plaza area,” said Cushman & Wakefield Director Robert Lambert, who represented the landlord.

According to Cushman & Wakefield’s Third Quarter Office Report, the Greater Airport Area has accounted for 50.1% of year-to-date leasing activity in Orange County, with a recorded 965,575 square feet of year-to-date positive net absorption—by far the highest in Orange County.

In addition, the overall vacancy rate in the Greater Airport Area declined 110 basis points from 14.6% to 13.5% over the past 12 months, the lowest since 3Q 2007.  According to the report, the Greater Airport Area’s year-to-date new leasing activity of 3,118,269 square feet represents a growth rate of 17.4% when compared to the same time last year.

Santana and Labbate were represented by Mert Wallen.