by Bradley Parsons
Staff Writer
The San Marco Panera Bread’s landlord plans to sandwich a new development into the tight lot between the sandwich shop and the San Marco library to take advantage of what he describes as the area’s “smoking” real estate market.
Mark Rubin, partner at Rubin and Rubin law firm based in the neighborhood, said he expects to start development within 90 days on the 4,600 square foot lot on the corner of LaSalle St. and Hendricks Ave. Rubin said he’s already talking to potential tenants.
He thinks an office center along the lines of a Kinko’s would be the best fit for the neighborhood; Rubin says the closest competition would be across the river at the downtown Kinko’s.
But Rubin isn’t ruling anything out, including moving in another restaurant that would give Panera some next door competition. Rubin, though, said Panera has been a good tenant — he recently signed them to a five-year lease extension — and said he wants to find a neighbor to complement the sandwich shop’s business.
“When we develop, we look for the best use for the community. Synergies with the other businesses are a big part of what we do,” said Rubin. “I wouldn’t put an Atlanta Bread Company there and I’m sure they wouldn’t appreciate it if I did.”
Management at Panera said it’s Rubin’s lot to do with as he wants. In fact. Panera isn’t as concerned with losing customers as it is losing parking, a scarce commodity in the neighborhood.
Lunchtime crowds already overwhelm Panera’s parking. From noon to 1 p.m. parked cars commonly spill out of the lot onto the streets of the surrounding neighborhood and into the library lot across the street.
Among area proprietors, the most common parking complaint is the lunchtime overflow coming from Panera and nearby La Napolera. Recent construction on Hendricks wiped out all the on-street parking.
Both parties agree that Panera’s deal allows Rubin to use about 10 spaces from the lot behind the sandwich shop if he develops next door. Rubin said he’s “on the same page” with his tenant now concerning parking, but the two haven’t always seen eye to eye on his use of the lot.
When Rubin parked a construction trailer from his development firm Accubuild in the lot on top of about 10 parking spaces, the dispute ended up in court.
Panera won that case and Rubin moved the trailer to the corner lot planned for construction, said Raquel Montgomery, general manager of the San Marco Panera. Montgomery doesn’t expect any more disputes with Rubin, although she declined to comment further citing an ongoing court case.
Rubin said his development will add to the vitality of an already bustling commercial corridor. Rubin was one of the early investors in the area’s turnaround.
Rubin was part of a partnership that bought and renovated the Rubin Building that now houses Matthew’s Restaurant. He also oversaw the redevelopment of an old warehouse into the brick building now occupied by Panera.
Rubin said the area’s parking shortfall was part of the growing pains associated with any developing area. He said a new, 40-space lot on Lasalle leased by the City should ease some of the parking problems.