Who is developing Morgan Street Food Hall & Market?
Hibernian Hospitality Group – owners of Hibernian Irish Pubs, Xoco Mexican Restaurant, The Station and the Raleigh Beer Garden has created the Morgan Street Food Hall & Market in the Warehouse District of downtown Raleigh. The Food Hall will be managed by Morgan Street Food Hall LLC, a subsidiary of Hibernian Hospitality Group. Boyd & Associates will handle leasing responsibilities.
So what exactly is Morgan Street Food Hall & Market?
The Food Hall is a 20,000 square foot venue which will bring 60+ different food stalls, restaurants, and market opportunities. It will also feature expansive seating and event programming options. This entire complex will sit in the approximate center of the downtown Raleigh Warehouse District and will be adjacent to the upcoming transportation hub, Union Station, the newly announced 17 story Dillon development and Citrix Sharefile.
What is the vision for the food stall offerings at Morgan Street Food Hall & Market?
The general vision for the food offerings will be a series of stalls and shops offering high quality, chef-driven specialty foods with a wide range of diversity. Some establishments will be a cooked-to-order mentality, while others are specialized offerings in a market setting. Each stall will offer a limited number of highly specialized and targeted culinary offerings, artisan and local in design and execution, with affordable prices typically found in food halls serving food counter-style. Each stall will present its own unique personality/trade dress in a size ranging from 30-550 square feet depending on location, menu and what we consider might be the best ‘neighbors’. Most stalls will feature local Triangle area chefs/restaurateurs looking to expand their brand identities or trying to create a new one using Morgan Street Food Hall & Market as an incubator/innovative test kitchen. Morgan Street Food Hall & Market will reflect the best of food trends, innovations and exciting offerings that may be unique to the Greater Raleigh area.
Where will the Morgan Street Food Hall & Market be located?
Morgan Street Food Hall & Market is in the center of a resurgent downtown Raleigh at the intersection of W. Morgan Street and West Street. Situated between the central business core, the fastest growing residential population and large-scale business expansions, the Food Hall is poised to be an economic engine for the food and beverage industry in Wake County for years to come.
How do I apply to become a vendor at the Morgan Street Food Hall & Market?
All potential occupants will apply through the website. Within this application, you will be asked to present a proposal which will detail your concept. This application will begin the process of arranging for presentations, interviews, and potential tastings to be conducted by the management company. The Morgan Street Food Hall & Market will review all potential applicants and make determinations as to ensure a vibrant, non-repetitive and all-encompassing line-up of unique businesses and start-ups for a projected opening early 2017. The Food Hall will have a wide variety of offerings and not multiple stalls vending the same items. The success of the Food Hall hinges on the synergy of a carefully curated, diverse line-up of vendors.
What will a typical food stall look like?
Food stalls/retail stands will vary from as little as 30 square feet to 550+ square feet. Each stall will house whatever cooking equipment is needed and we encourage stall occupants to allow for some seating at their counter as well. General seating will be plentiful but having some energy at the stall itself will help ‘personalize’ that space. Morgan Street Food Hall & Market will provide exhaust hoods to match the equipment needs including sinks of the individual stalls, bringing in all utilities including plumbing/wiring to the stall space, provide a facade on which to mount signage . Select stalls will have open space in the front to provide customization of displays including refrigeration and heat if needed. No ceilings are needed as this will be an entirely enclosed area but we will review all design drawings to allow for vendors to personalize the space if it calls for some type of cover or grid work to hang lighting or other design elements. Each stall’s design must be approved for certain design criteria and process which will be established but again, we will do our best to allow the Food Hall to develop a personalized look and feel that is both eye-catching and unique.
What do you think this will cost a Tenant in build-out and overall cost of opening?
Obviously, there is no way to estimate a total to this without knowing what each stall will offer. However, it is our estimation that the Tenant might spend within a range of $30,000-60,000 (on a larger stall) in equipment costs depending on the Tenant’s offering. For smaller stalls we approximate between $2,000 and $10,000 in equipment costs. Carts will not incur up-fit costs as they will be built ready to operate. We will not be providing any improvement allowances due to our provision of the duct work, utilities, facade, floor drains and skeletal walls. It is our estimation that your overall costs will be minimal compared to street side locations and overall size considerations – as well as not having to provide seating, bars or other guest accommodation such as restrooms or an office area. Estimates of costs do not include potential permits, fees and costs that Tenants will incur in planning and permitting with the city and county.
What about storage?
A select larger stalls will have access to industrial refrigeration. Most stalls will have storage on site within their footprint.
What about general maintenance/upkeep and trash removal?
Morgan Street Food Hall & Market will provide an ample common area trash handling facility on site. In addition, we will provide staff to keep the general area and all common areas clean and accessible. Each stall operator will be responsible for and expected to maintain their areas with a high level of cleanliness and attention to detail. Additionally, each stall operator will secure their own Wake County Health Permit, if applicable, and will be required to maintain certain scores dictated in the lease agreement. There will be a recycling area in the main trash handling area. Morgan Street Food Hall & Market will manage all waste removal from that common waste area.
What will the lease terms look like?
There are a variety of lease terms to consider. Our leases are established for each tenant based on the size of the desired space and the amount of Tenant Improvement the Food Hall will make in the space for the Tenant’s use, and will cost our Tenants between $500 and $8000 per month. The various term options will be discussed individually with potential Tenants during the application process. Our leases are inclusive of utilities, common areas, taxes and building insurance so it’s all in one monthly fee. If your business exceeds a certain break point in sales, a percentage of your sales is added to the rent payment on a quarterly basis. Morgan Street Food Hall & Market will also offer a menu of services to all Food Hall occupants as well – such as accounting services, marketing and online offerings and access to possible lending sources.
What else do I need to know?
- One alcohol license including beer/fortified wine & liquor will be held by Morgan Street Food Hall & Market LLC. The current plan is that individual stall owners will not be allowed to sell or serve alcohol at their stalls. Your guests may wander the food hall and choose their own beverages from multiple locations in the Food Hall and you will be encouraged to sell non-alcoholic beverages that best represent your food and vibe.
- Morgan Street Food Hall & Market will have a marketing and promotions staff that will be constantly promoting and booking events in the Food Hall. While it is impossible to estimate the percentage of time that there will be events in this open air space, there will be signature events and feature activation to highlight the overall Food Hall and drive traffic into the vendors’ establishments.
- Morgan Street Food Hall & Market will be open seven days a week for breakfast, lunch and dinner. The specific hours for the Food Hall will be 7AM – 10PM with possible consideration for extended hours on weekends.
- Each potential stall owner will be asked to present a simple yet thorough business plan that will detail the trade dress, specific stall concept/culture statement, design inspirations, menu with pricing and general layout of the space – all of which will become exhibits to the individual stall owner’s lease agreement. Morgan Street Food Hall & Market may have an array of stall ideas in mind but we will be completely open to new and innovative ideas that we might not have on our list of potential stall occupants. Our collective goal is ‘best of class’ in all offerings and to that end we will conduct comprehensive food tastings with potential Tenants.