Sbraga & Co Closes Abruptly

[TheCat]

^ not funny. 

[Non-RedNeck Westsider]

^ not funny.

Nor surprising.

[FlaBoy]

This is 100% about visibility when it comes to not attracting a lunch crowd with thousands of workers within walking distance at FIS, Black Knight, Blue Cross, Everbank, Raymond James, Law Firms, Haskell, etc.

The way they built this still doesn't make sense with the garage facing Riverside. Maybe one day if a hotel and 200 go in there it will make it more successful in that Plaza. However, the Fresh Market development kills it during lunch.

[Steve]

This is 100% about visibility when it comes to not attracting a lunch crowd with thousands of workers within walking distance at FIS, Black Knight, Blue Cross, Everbank, Raymond James, Law Firms, Haskell, etc.

The way they built this still doesn't make sense with the garage facing Riverside. Maybe one day if a hotel and 200 go in there it will make it more successful in that Plaza. However, the Fresh Market development kills it during lunch.

I don't think the design helps (and Phase 2 is MUCH better), but in the end I think it was about the place - it just didn't draw people. I knew it was there and went twice. Service was solid both times and the food I had was good, but if I'm going to do small plates, I'm going to 13 Gypsies - they just do it better. I just didn't find the place to be a draw for me.

[Kerry]

I live at 220 and would welcome an Applebee's.  The problem I am seeing is everyone wants to be 'up-scale'.  Brooklyn is a neighborhood and the people who live here want places we can eat at every day.  These up-scale places relying on Thursday-Friday-Saturday imports from the suburbs are never going to make it long-term.  Price-wise they need to compete with the 2 local grocery stores because it is just as easy for me to walk to the grocery store and buy food as it is to walk to dinner.

[Steve]

^While I don't love the idea of an Applebee's, I agree with your discussion on price point, and while I didn't state it in my post well, that was part of my point. I'm not going to Spraga every night (and if it's a special occasion, then there are many other places I'd rather go), but I would go to Burrito Gallery on a random Tuesday night.

I think that more than anything is the issue.

[CoastalJax]

Until the right restaurant (i.e., one that appeals to 220/The Brooklyn residents) comes in there, they'll all continue to struggle. Sbraga closing was no surprise, and could be a big opportunity to re-work the space into something more fitting to the demographic nearby and the vision of Unity Plaza.

[Kerry]

^While I don't love the idea of an Applebee's, I agree with your discussion on price point, and while I didn't state it in my post well, that was part of my point. I'm not going to Spraga every night (and if it's a special occasion, then there are many other places I'd rather go), but I would go to Burrito Gallery on a random Tuesday night.

I think that more than anything is the issue.

Exactly!  Several times I have been in the process of getting food out of the pantry and have my girlfriend say, "Why don't we just walk over to Burrito Gallery instead." or "I feel like a burger instead of spaghetti; let's go to BurgerFi."  She never once said, "Hey, I feel like $30 octopus instead of homemade tacos."

I am begging local restaurant owners - stop trying to be upscale all the time.

This is the best Western chef going.
Cookie!
Tell'em what they're gonna eat.
You ain't gonna be gettin'
no nouveau almondine thin crust...
...bottled water, sauteed city food.
Food's brown, hot-and plenty of it. - City Slickers 1991

[joshuataylor]

From Kevin Sbraga's Instagram:

I want to take a moment to talk about today's events in the most candid way possible.

It was not Sbraga Dining who closed Sbraga & Company, locked employees out with no notice, and put up an "announcement" on the door. Sadly enough, I found out about this at the same time you did.

I have always cared deeply about my employees, and personally built the S&Co. team from the ground up. I'm heartbroken at how things have panned out. I'm sure there are questions on the specifics of the situation that I likely can't answer now, but please know none of this was under my control or my decision. I wanted to continue to thrive and grow in Jacksonville with the restaurant, and provide opportunities for my staff to do the same.
I felt deeply connected to Jacksonville before the restaurant even opened, and not just because I have family here. Jacksonville is a beautiful, vibrant city with an unparalleled culinary community. I'm honored to have been a part of that for the time I was here, and ask for your patience as we sort through this closure.
Sincerely,
Kevin Sbraga

[Kerry]

I can only assume that they were so far behind in rent the property owner had no choice but to cut loses.  I did notice what appeared to be suppliers yesterday trying to enter the restaurant, talking on their cell phones at the locked door, and taking pictures of the sign. They didn't look happy.  Reminds me a little of Latitude 360.

[thelakelander]

Hmm. I never got to try this place out. Too bad.

[Non-RedNeck Westsider]

Not to much new info, but they may update the article as calls are returned.

http://www.bizjournals.com/jacksonville/blog/morning-edition/2016/07/sbraga-company-says-closing-wasnt-its-decision.html?ana=e_jac_rdup

[Captain Zissou]

It's still Alex's. 

[Adam White]

Not to much new info, but they may update the article as calls are returned.

http://www.bizjournals.com/jacksonville/blog/morning-edition/2016/07/sbraga-company-says-closing-wasnt-its-decision.html?ana=e_jac_rdup

It may not have been his decision, but if it was closed due to him being behind on the rent, then it may as well have been. I'm not saying it was closed for that reason - but I find it odd that he is making such a point about it not being his decision, yet not providing any more details.

[Houseboat Mike]

Not to much new info, but they may update the article as calls are returned.

http://www.bizjournals.com/jacksonville/blog/morning-edition/2016/07/sbraga-company-says-closing-wasnt-its-decision.html?ana=e_jac_rdup

It may not have been his decision, but if it was closed due to him being behind on the rent, then it may as well have been. I'm not saying it was closed for that reason - but I find it odd that he is making such a point about it not being his decision, yet not providing any more details.

Well, I don't know.  People truly act like monthly payments on leases are quasi religious.

The guy spent a million and a half on the buildout, and lent his name and celebrity to the project.

A lease is really an agreement to trade money for time. So if you have a year long lease for a space at 1000 dollars per month, its actually a 12,000 dollar lease to use the property as though you owned it for a year.  Thats why prices are quoted square foot per year. ($25 per sq ft. is not a monthly price in commercial renting)

The payments can be made regularly, or they can be made at one time. Or monthly or quarterly, or semi annually.

Once you've made the good faith of spending that kind of money on building out a space, its not like the landlord doesn't have equity as collateral. It would be a dickish move not to provide some communication or leeway or some alternate negotiation in a situation like this if it was just a matter of rent.

I oversee buildouts for a company nationwide, most of our deals are turnkey. The build out costs are rolled into the lease rate. Not 100% sure how retail builds go, but it is possible that happened in this case.