Mehran Realty Group has inked a deal to bring 99 Ranch Market, a West Coast-based supermarket chain with over 70 locations, to New York City.
The family firm and the Asian grocer agreed on a lease for 44,000 square feet at 37-11 Main Street in Flushing.
The building, previously occupied by Hong Kong Supermarket, has been owned by Mehran since 1984. Alexander Mehran Jr., a third-generation property manager at the firm, oversaw the leasing process. He said property owners Alexander Mehran Sr. and Joseph Mehran Jr. played major roles in the negotiations.
“We had a lot of interest in the property, especially from supermarkets,” he said. “This [tenant] was the perfect fit for us, and I think this is going to be the perfect fit for them,” Mehran said.
Mehran Realty Group secured the deal in collaboration with David Gelfond and Bruce Pollack of First Development Corp. The landlord declined to share the financial terms of the lease.
The building has undergone several transitions, from the Busy Bee Mall to Hong Kong Supermarket, its most recent tenant.
Roger Chen founded 99 Ranch Market in 1984. Owned by Tawa Supermarket, which is based in Buena Park, California, it plans to open a supermarket and a food court at the Flushing location.
“There was an existing supermarket food court in the basement, but they are planning a full gut renovation to accommodate their brand’s specific needs,” Mehran said.
Mehran Realty Group has offices in Flushing and Huntington and manages more than 300,000 square feet, mostly in Flushing, according to its website.
The Real Deal reported in 2002 that 99 Ranch, one of the nation’s largest Asian grocery chains with 54 stores in 10 states, would open its first New York store at a 45,000-square-foot location in Westbury, Long Island’s Samanea New York mall. That store is in operation, as are others in Jersey City and Hackensack.
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