Shopping Centers Today International

JAN 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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told the Russian press last year. "This business idea fascinated me, and I de- cided to create a similar startup in the fast-food industry." At this point Teremok is budget- ing about $250,000 to $400,000 per outlet for annual rental costs, ac- cording to Denisenko. Initial news reports about the company's inten- tions had the inaugural opening in New York City set for November 2014. Now Teremok says it plans to open that first U.S. restaurant this month, a 1,100-square-foot shop in midtown on Sixth Avenue, with an- other midtown Manhattan unit to follow soon after, before the chain heads downtown. In New Jersey the company has signed a lease with Canada's Triple Five Group, developer of American Dream Meadowlands, still under development in East Rutherford, N.J., for a spot in that mall's food court. Denisenko says he does not expect the mall to be com- pleted until 2017. I n A u g u s t T e r e m o k l e a s e d a 4,500-square-foot commissary kitchen in Hackensack, N.J., where the chain will be doing the prep work for all its venues in the region. NAI James E. Hanson, a Hackensack-based full-service com- mercial real estate firm, will handle Ter- emok's future leases in New Jersey, while Knight Frank is to oversee the expansion in New York, according to Denisenko. Though Russian-born, Denisenko has a connection with New Jersey and New York, having lived in the New York City borough of Queens before moving across the Hudson River to New Jersey with his parents roughly a decade ago. He attended Pennsylvania State University and the Culinary Insti- tute of America, in Hyde Park, N.Y. Teremok rented an unused kitchen at a Newark hotel to test out recipes that may appeal to American tastes. Custom- ers have some 30 fillings and toppings on the menu from which to choose. "If it's not as successful as we want it to be, we're going to tweak the concept, so it's more what the customers will like and want," Denisenko said. He will not cite any fa- vorite blini — "They're all pretty good!" — but he does not hesitate to take sides on one menu item in particular: "The borscht they make is amazing," he said. "I've had borscht all my life made by my mom, my grandmother and their friends, and then I tried theirs — and theirs was out of this world." S C T For leasing, contact Ilya Denisenko, opera- tions manager, at Denisenko.i@teremok.com. #RECon16 REGISTER – Join over 36,000 attendees and 1,000 exhibitors in Las Vegas for the industry's largest event to network, learn, and make deals. BOOK YOUR HOTEL – Plan ahead to receive the biggest savings and best amenities at Las Vegas hotels. As the only official hotel provider, onPeak (formerly known as Travel Planners) has selected prime hotels conveniently located and priced to meet your needs. Book early as room rates at some hotels will increase. Visit www.icscrecon.org for more information, to register and book your hotel. BOOK FOR MAY SAVE MAY 23 24 25 22 May 22 – 25, 2016 I Las Vegas, NV Las Vegas Convention Center & Westgate Hotel 20 S C T / J a n u a r y 2 0 1 6

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