M
ehran Realty Group has secured a deal to bring 99 Ranch Market, a West Coast-based Asian grocer with over 70 locations, to New York City. The family-owned firm leased 44,000 square feet at 37-11 Main Street in Flushing to the supermarket chain, which plans to open a store and food court.
The building, previously occupied by Hong Kong Supermarket, has been owned by Mehran Realty Group since 1984. Alexander Mehran Jr., a third-generation property manager, oversaw the leasing process. "This tenant was the perfect fit for us," he said, adding that the deal will be a good match for both parties.
Mehran Realty Group collaborated with First Development Corp on the deal, which was secured in collaboration with David Gelfond and Bruce Pollack. The financial terms of the lease were not disclosed. 99 Ranch Market's founder, Roger Chen, plans to renovate the space to accommodate his brand's specific needs.
The new location will be the second 99 Ranch Market store in New York City, following a successful opening at Samanea New York mall on Long Island. Mehran Realty Group manages over 300,000 square feet of property, mostly in Flushing, and has offices in both locations.
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