126 Fifth Avenue
Like a burrito full of molten cheese, seemingly nothing can contain Chipotle’s explosion across Manhattan.
With its spicy fare and jolting calorie counts, the Mexican eatery has rapidly become a dominant source of cheap eats in this town. Now the company’s executives and bean counters wanted more breathing room, tenant rep David Beare of CORE told Crain’s: The Denver-based company will move its New York office to a 7,000-square-foot space at Fifth Avenue and West 18th Street, which is nearly triple the size of its current office.
Chief executive Steve Ellis is based in Manhattan and “loves the Fifth Avenue address and [that] it’s a corner building with great light,” Mr. Beare added.
The fourth-floor space, where the asking rent is $37 per square foot, was only on the market for a month.
Chipotle has posted double-digit sales growth through much of the recession and just opened an office here two years ago at 71-73 Gansevoort Street in the meatpacking district.
Marco Ellman of Ellman Realty Advisors represented the landlord, 126-8 Fifth Avenue LLC.