The Hahne & Co. building at the corner of Broad and New streets in Newark — Courtesy: L+M Development Partners
By Joshua Burd
The revitalized Hahne & Co. building in downtown Newark is now fully leased after a nearly 2,000-square-foot commitment by a growing Korean barbeque restaurant.
The ownership team of L+M Development Partners, Prudential Financial and Goldman Sachs Urban Investment Group announced Monday that KBG Korean BBQ & Grill is taking 1,932 square feet on the ground floor of the historic property. Slated to open on the corner of Halsey and New streets, the operator will join several other restaurants, retailers and office users at the complex, which is also home to 160 apartments as part of a massive restoration project completed in 2017.
Ryan Starkman of Pierson Commercial represented ownership in the transaction.
“We are excited to welcome KBG as the latest and final addition to Hahne & Co.,” said Jake Pine, a director with L+M Development Partners. “The new restaurant cements Halsey Street as the ‘Eat Street’ of Downtown Newark, drawing in both the local community, as well as visitors to the neighborhood. We look forward to having people stop in and try KBG’s delicious Korean BBQ for themselves.”
KBG Korean BBQ & Grill, a fast-casual concept with locations in Princeton, Hillsborough and New Brunswick, offers classic Korean barbeque and build-your-own vegetarian options, L+M said. The Newark location is expected to open late this year or early next year.
Hahne & Co., previously an iconic department store, is also home to an arts and culture center operated by Rutgers University-Newark. KBG will join Ani Ramen, a craft ramen and Japanese restaurant, which is set to open its largest location to date around the same time, along with retailers such as an existing Whole Foods within the complex.
“As New Jersey natives, opening a new location in this historic and iconic building is an incredible opportunity,” said Joel Park, KBG Korean BBQ & Grill’s owner. “We are thrilled to join the roster of great restaurants along Halsey and bring our authentic and innovative Korean BBQ dishes to the Downtown Newark community.”
L+M added that it was working with its tenants to follow the approved city and state guidelines around reopening after the COVID-19 outbreak.
