February 28
...serving up your daily dish.
In the "restaurants up for sale" category, we've learned that La Giada on Bloomfield Ave in Montclair is on the block. The business is listed for $135,000, and for those that are keeping track, that's along with Church Street Cafe at $750,000, and the mystery restaurant, listed for $1,050,000, which is looking more and more like Leone's. For $135,000, buying La Giada may just be cheaper than redoing my kitchen, and I wouldn't have to cook anymore. Anyone want to go halfsies?
February 28, 2005 in Food and Drink | Permalink
ahhh, i figured la giada was up for sale. the place was never very full and it's been dark the past few weeks. i didn't think it was the one up for over a mil, cause the location doesn't strike me to be THAT good - esp. with the current parking situation.
Posted by: bored | Feb 28, 2005 5:01:12 PM
La Giada: why so cheap? You can't buy a doghouse for that amount of $$$ in Montclair!
Posted by: Miss Martta | Feb 28, 2005 6:07:22 PM
Arnolds Charbroil business and building is for sale also for 1.6M
Posted by: unknown | Feb 28, 2005 9:59:21 PM
In the words of the late great Frank Zappa "Yippee yi yo tie yay!"
Posted by: Gre | Feb 28, 2005 10:47:39 PM
At least with Arnold's you get a whole building though! I think there are 2 apartments up above and if I remember correctly, they rented for like $1500-2000 each.
Posted by: butchcjg | Mar 1, 2005 10:16:04 AM
Restaurants up for sale, empty storefronts on Church Street, what's happening to the vision of a "new" Short Hills Mall?
Posted by: carya | Mar 1, 2005 10:43:48 AM
Methinks the vision is being clouded by cataracts.
Seriously, though, why is La Giada selling for such a low price?
Posted by: Miss Martta | Mar 1, 2005 11:09:56 AM
LaGiada is selling a lease, a reputation and some used restaurant equipment. Not much in the way of assets, and I am not familiar with the place, so I can't comment on the reputation, which might be the most (or least) valuable of the three.
What empty stores on Church Street? It certainly is not like it was a few years ago when almost every other storefront was empty.
The former Gibbs office is, thankfully, being renovated.
There is one vacancy in #45 where one tenant recently took a larger space and her smaller space is open. Probably not for long.
Dick has one or two small spaces available in the Hinck Building. I am sure that he is holding out for the right kind of business to add to his mix.
I would estimate this is a low vacancy rate, even if it was 100% not long ago.
Posted by: Kevin Lee Allen | Mar 1, 2005 11:27:57 AM
