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  5. ›Arts District Restaurant RFQ Due March 4, 2026

Borough of Metuchen·New Jersey

Arts District Restaurant RFQ Due March 4, 2026

Closes 2/24/2026$1.5M – $5MRequest for Qualification
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Description

The Borough of Metuchen seeks a qualified restaurant/catering operator to lease, develop, and run a 6,500‑sq‑ft restaurant, bar, and exclusive catering operation within the newly redeveloped Forum Theatre Arts District. The operator must pre‑pay $4 M in rent during construction, finance any furniture & equipment costs exceeding the $700 k allowance, and provide upscale food‑service and event‑catering for the 338‑seat theatre. In return, the Borough offers a negotiable minimum rent plus percentage‑of‑revenue rent, exclusive catering rights, a concessionary liquor license, low property‑tax and maintenance expenses, and a long‑term lease tied to performance metrics. • Scope: lease & develop 6,500 sq ft restaurant, 1,500 sq ft kitchen, rooftop terrace; exclusive catering for all theatre events. • Financial obligations: $4 M prepaid rent, $700 k equipment allowance (operator funds any excess). • Evaluation focuses on upscale restaurant/bar experience, financial capacity, and prior event‑venue catering work.

Attached files

Contact

Deborah Zupan(Borough Clerk)

[email protected]

Key dates

Opened
3/9/2026
Closes
2/24/2026

Last updated

Details

Type
Request for Qualification
Industry
Food and Beverage Services
NAICS
722511

Budget estimate

$1,500,000 – $5,000,000

The operator will generate revenue from restaurant sales, bar sales, and exclusive catering contracts for all theatre events. Assuming an average annual sales volume of $8‑15 million for a 6,500 sq ft upscale venue, and a typical net profit margin of 10‑20 %, the operator could expect annual earnings between $800,000 and $3,000,000 after accounting for rent, labor, and operating costs. The prepaid $4 M rent is a cash outflow during construction but is recouped over the lease term. Consequently, a reasonable budget (profit) range for the first full operating year is roughly $1.5‑5 million.

AI estimate from the solicitation

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