Arts & Entertainment

NJ Transit Set to Vote on Leasing Space for Chatham Train Station "Bistro"

d6b0c7b9b6685df77f53_af04c4f6522676707578_best_5bdbbbfb75513fe5e5b6_chatrain.JPG
NJ Transit is ready to vote on leasing the Chatham Train Station out to a company called Fishawack 4, which plans to open a restaurant Credits: TAP Chatham
d6b0c7b9b6685df77f53_af04c4f6522676707578_best_5bdbbbfb75513fe5e5b6_chatrain.JPG

CHATHAM, NJ - New Jersey Transit has a vote on its agenda for Thursday that will approve a long-term lease deal to a company named Fishawack 4, LLC, which would operate a restaurant in the eastbound building of the Chatham Train Station.

Mayor Bruce Harris made the announcement of the vote at the regular meeting of th Borough of Chatham Council held Tuesday night. Council member Len Resto noticed the NJ Transit agenda item and brought it to the attention of Harris.

The proposed restaurant will serve breakfast lunch and dinner, according to the information provided by NJ Transit in its agenda publication. The description of the Bistro-style restaurant is described below by NJ Transit in its meeting agenda.

Sign Up for E-News

"The restaurant will be of contemporary design and echo the historical elements of the station while offering a rousing 21st Century-style Bistro with distinct menus for breakfast, lunch and dinner. By entering into a lease for the Chatham railroad station to operate as a restaurant will provide non-farebox revenue to NJ TRANSIT and serve as a commuter passenger amenity to our passengers."

If the lease agreement is approve by the board, NJ Transmit would enter into a 20-year lease with Fishawack 4, LLC and receive $18,000 per year, which includes a 2.5 percent annual increase. NJ Transit expects to receive a minimum of $459,000 in rent over the term of the lease.

Chatham Borough Mayor Bruce Harris reads a portion of the NJ Transit agenda which refers to the restaurant at the Chatham Train Station

Below is a full transcript of the NJ Transit agenda item that will be voted on by the board in Newark on Thursday.

ITEM 1610-44: CHATHAM TRAIN STATION PROPERTY – LONG-TERM RETAIL LEASE OF EASTBOUND STATION BUILDING 

Leasing NJ TRANSIT’s Chatham train station Eastbound Building to Fishawack 4, LLC, will provide non-farebox revenue in the form of an annual base rent of $18,000 with 2.5 percent annual increases plus a percentage rent of gross annual sales for the operation of a restaurant. NJ TRANSIT is estimated to receive a total minimum of $459,000 in escalating base rent over a twenty-year term. The tenant is additionally responsible for maintaining the demised premises. The prospective tenant, Fishawack 4, LLC will provide capital improvements to the Chatham railroad station retail concession space in an amount estimated to be $900,000.  

Authorization is requested to enter into a twenty-year lease consisting of fifteen years with one, five-year extension with Fishawack 4, LLC for the operation of a restaurant concession consisting of approximately 2,000 sq. ft. in Chatham train station’s Eastbound Building at annual base rent of $18,000 with 2.5 percent annual increases plus percentage rent at an escalating range of between five to ten percent of gross annual sales over $700,000. 

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Chatham

Upcoming Events

Carousel_image_e54353bd68f7785329f6_donate-blood

Fri, April 27, 2:00 PM

Madison Area YMCA - Kroll Conference Room, Madison

Blood Drive

Giving Back Health & Wellness Other

Sun, May 20, 2:00 PM

Chatham Township Municipal Building, Chatham

A Tour of Chatham Township and Green Village

Arts & Entertainment

Robotics and Turkey Sandwiches

April 24, 2018

April 22, 2018

Below is the thank you letter written to all of the groups involved in a wonderful service project today in support of Bridges Outreach, a Summit based organization that has been aiding local homeless friends for 30 years.

Dear Central Presbyterian Kindergartners, Stanley Family and friends, Fear the Gear, Columbia High School robotics and Washington Avenue School ...

The F.M. Kirby Children’s Center of the Madison Area YMCA’s Camp Wantago Opens New Section to Meet Demand

April 26, 2018

MADISON, NJ - Due to high demand, a new section of the F.M. Kirby Children’s Center of the Madison Area YMCA’s Camp Wantago is now open! With activities for kindergarten students through 2nd graders, campers are busy with outdoor play, sports, STEM, art projects, swimming and field trips. Weekly field trips include Keansburg Water Park, Turtle Back Zoo, Brookside Beach and ...