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LEASED – Lotus Garden Restaurant, San Bernardino

By in 2022 - Volume 24

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”.

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.

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