The Cheesecake Factory inked a lease on Miami Beach’s Lincoln Road in the former Sushi Samba space.
The publicly traded Cheesecake Factory, based in Calabasas, California, plans to open this fall at 600 Lincoln Road, according to Terranova Corporation Chairman Stephen Bittel. The restaurant group signed a 20-year lease, with renewal options, for the 7,000-square-foot corner space. It’s expecting to secure a building permit soon for an extensive interior buildout and could open in the fall, he said.
Second-generation restaurant spaces, meaning they have built out kitchens and grease traps, have been in high demand over the past year throughout the region.
“After really a treacherous 2020 in the restaurant business, restaurants have experienced a remarkable recovery in markets like South Florida that have been wide open the whole time,” Bittel said.
Sushi Samba closed in December 2019, just before the pandemic began.
Terranova owns the property with Morgan Stanley’s Prime Property Fund. A Terranova affiliate paid $108.6 million for the property with two addresses at 600 Lincoln Road and 1630 Pennsylvania Avenue in 2014. The building was completed in 1931.
Cheesecake Factory expects to lease outdoor space from the city of Miami Beach for outdoor dining in front of the restaurant, Bittel said.
Source: The Real Deal