Galatoire's Lead Owners Trosclair, Georges Complete Strategic Real Estate Acquisitions In The French Quarter, Warehouse District

NEW ORLEANS – Galatoire’s lead owners Todd Trosclair and John Georges completed the purchase of the former Hurwitz Mintz building on the 200 block of Royal Street, Wednesday, June 14. The property is around the corner from Galatoire’s, directly across from The Hotel Monteleone and adjacent to Mr. B's Bistro.

         The historic Royal Street building was purchased from the Matwani family, who held the building for one year. The property itself is currently under construction. Once complete, this development will feature 21 condominiums and retail availability for three restaurants or other commercial tenants. This purchase is the latest in a series of real estate acquisitions by Trosclair and Georges. The pair partnered to restore 215 Bourbon St., home today to Galatoire’s 33 Bar and Steak, following the acquisition of 209 Bourbon St. in 2009, which houses Galatoire’s.

         On June 14, Georges also completed the purchase of 747 St. Charles Ave. The building is currently home to Swiss Confectionery and near a dozen restaurants that have opened in recent years by a number of notable chefs, including Emeril Lagasse and Donald Link. The Swiss Confectionery has a lease for its commercial space.

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         “Having access to prime, historic properties in the Warehouse District and the French Quarter opens the door to a number of possibilities, including restaurants that can complement the Galatoire’s current family of restaurants or another concept operated by someone outside of Galatoire’s,” said Melvin Rodrigue, president of Galatoire’s. “The 200 block of Royal Street is a focal point in the Quarter just like Galatoire’s is on Bourbon Street. Many people have expressed interest in the ground floor there. 747 St. Charles Ave. is well-known property in a growing area of the city where people go out to dine. Both properties put us in a position to open new restaurants in attractive areas, whether we choose to own and operate our concepts or lease to other operators. We are going to take a little time to determine the best move to make, but we are definitely excited about the possibilities for Galatoire’s in either or both locations.”

         The purchase terms for both properties were not disclosed.

         Reps said Galatoire's in New Orleans, a national dining institution, was honored with the prestigious James Beard Award for “Outstanding Restaurant” in 2005 and named as one of New Orleans’ “Top 10 Restaurants” in 2012. Galatoire's has earned the Wine Spectator Award of Excellence every year from 2007 to 2010, and from 2011 to 2013 achieved the Best of Award of Excellence for its wine list. Saveur also named Galatoire's Friday Lunch one of its "25 Greatest Meals Ever," while Bon Appetit magazine has recognized Galatoire's as one of the nation's "Top Celebration Restaurants."

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