Connecting Real Estate with Hospitality
Connecting Real Estate with Hospitality
Connecting Real Estate with Hospitality
Connecting Real Estate with Hospitality
Connecting Real Estate with Hospitality
Connecting Real Estate with Hospitality
Connecting Real Estate with Hospitality
CULTIVATE IS A FULL SERVICE FOOD & BEVERAGE CONSULTING
TEAM THAT CONNECTS REAL ESTATE DEVELOPERS WITH
INDUSTRY-LEADING CHEFS AND RESTAURANT OPERATORS.
We use our combined experience in both food & beverage operations
and real estate development to guide our clients through the complex
world of food & beverage-anchored development. Our services include
master planning, design oversight, underwriting, concepting,
and
operator search.
100
Years combined experience in
real estate development and food
& beverage operations
1,000
Food & beverage and retail spaces
successfully
conceived
and delivered
250+
Existing operator relationships
Peter Peterson is President and Managing Partner of Cultivate Hospitality Group. In this role, he leads the strategy, origination, and execution of the firm’s consulting engagements and food & beverage investments. With over 25 years of experience working in F&B operations and real estate development, his unique background provides him with the skill set to understand F&B development from the perspective of both the operator and the developer.
CONTINUE READING...Sam Bakhshandehpour is Chief Executive Officer & Board Member of José Andrés Group (JAG), a restaurant and media company. Driven by the mission of “Changing the world through the power of food,” JAG’s platform spans 40+ world-class restaurants across 9 markets globally, including the 2-Michelin starred minibar by José Andrés and numerous Michelin Bib Gourmand restaurants. Mr. Bakhshandehpour also runs José Andrés Media (JAM), which produces food-related cultural content across scripted and unscripted media channels – film and television, books, podcasts, and digital content, including the Emmy-award winning series José Andrés and Family In Spain and The New York Times bestselling Zaytinya cookbook. JAG also houses numerous global partnerships as well as a consumer products platform offering best-in-class products from around Spain.
CONTINUE READING...John C. Wang currently serves as Chairman & founding member of Cultivate. A visionary and entrepreneur, he has been instrumental in the formation, development and direct investment of 30 companies since 1988 on behalf of his family office. Additionally, Mr. Wang is Chairman and Managing Partner of Silverstone Companies, a vertically integrated hospitality and lifestyle investment firm.
CONTINUE READING...
Jeremy Shartar is a Vice President at Cultivate Hospitality Group. Jeremy has been in the retail and hospitality business for the past 13 years. At Cultivate he oversees business development and assists with the strategic operation of the company.
Jessica Wasser is an Assistant Vice President at Cultivate Hospitality Group. In this role, she is responsible for project management, preparing investor materials, marketing collateral, accounting and new business development.
CONTINUE READING...Alexa is a Director at Cultivate Hospitality Group where she is intimately involved landlord and tenant representation as well as new business development. A few of Alexa’s projects include leasing of Century Plaza, Jamie Oliver’s entrance into the U.S. and Scale Hospitality’s U.S. growth and expansion.
CONTINUE READING...
OUR EXTENSIVE EXPERIENCE ALLOWS US TO HELP DEVELOPERS
NAVIGATE THE WORLD OF
FOOD & BEVERAGE
Our core competency is drawing on our years of experience in both food & beverage operations and real estate development to provide design teams with the guidance required to create active public spaces anchored by food & beverage. We have engaged in creative placemaking with some of the best development teams to bring real estate projects to life.
DESIGN OVERSIGHT
PEER REVIEW OF MECHANICAL SYSTEMS
PROGRAMMING
Our experience in the world of institutional real estate ownership and food & beverage asset management gives us a unique perspective in the underwriting of new restaurant opportunities. We conduct a thorough survey of the existing F&B landscape, finding support for various detailed operating metrics including cover counts, turns, average checks, food costs, labor costs, rents, tenant improvement allowances, and other figures to analyze the viability of each new operation.
REAL ESTATE PRO FORMAS
OPERATOR PRO FORMAS
MARKET RESEARCH
Whether it’s a single signature restaurant space or a collection of spaces in a major mixed use development, we find the right concepts and operating teams that fit your project. Our deep involvement in the food & beverage operator community gives us the insight and ability to court the best operators in the market and structure creative operating agreements.
Occasionally, a unique restaurant space will require a custom crafted concept.
We oversee the concepting process and select the right design teams and operating teams to execute on ownership’s vision for the project.
Cultivate offers a full spectrum of other food & beverage services which can be catered to each owner’s unique needs.
ASSET MANAGEMENT
MARKETING & PR
TENANT COORDINATION
SPONSORSHIP OPPORTUNITIES
Cultivate has been engaged by Woodridge Capital Partners to curate the food & beverage collection together at the $2.5 billion Century Plaza project located in Century City across from the Westfield Century City.
The Century Plaza project will include two new luxury residential towers designed by Pei Cobb Freed & Partners, with 363 luxury residences, a 400-room Fairmont hotel, and 93,000 SF of retail space.
Developer: Woodridge Capital Partners
Location: Century City, Los Angeles
Project Class: Mixed-use
Retail Area: 93,000 SF
Cultivate is providing the following services for this project:
Master Planning
Underwriting Support
Operator Search
Concepting
Kilroy Realty Corp’s redevelopment of the
San Francisco Flower Mart is the largest development project in SF since the development of Embarcadero Center. Located in Central SoMa, the development plan calls for the preservation of the existing 115,000 square feet wholesale flower market space while also adding over 2 million square feet of office space, 130,000 square feet of food & beverage-focused retail, and 40,000 square feet of public open space.
Developer: Kilroy Realty
Location: San Francisco
Project Class: Mixed-use
Retail Area: 130,000 SF
Cultivate has been engaged by Kilroy Realty to provide the following services:
Master Planning
Underwriting Support
Operator Search
Concepting
Tenant Coordination
Cultivate has been engaged by Related to provide operator search services and guidance in master planning the food and beverage programming for the Frank Gehry-designed Grand Ave project. Located across the street from the Walt Disney Concert Hall, the project will bring a 314 room Equinox Hotel, 436 residences, and 172,000 SF of retail which include eight restaurants and a 430 seat cinema to the Bunker Hill neighborhood of Downtown Los Angeles in 2021.
Developer: Related Urban
Location: Downtown Los Angeles
Project Class: Mixed-use
Retail Area: 176,000 SF
Cultivate is providing the following services for this project:
Master Planning
Underwriting Support
Operator Search
Concepting
Tenant Coordination
Thrilled to announce that we are partnering with Chef Curtis Stone and brother Luke Stone, alongside Rising Realty Partners, to open a new restaurant concept together at Rising’s newly renovated The Trust Bldg in the Historic Core of DTLA. Details forthcoming.
Developer: Rising Realty Partners
Operator: Curtis Stone
Location: Downtown Los Angeles
Project Class: Mixed-use
Flag Luxury Group has engaged Cultivate Hospitality Group to find an operator for the entire food & beverage program at the Ritz Carlton NoMad New York, a 40-story Rafael Vinoly-designed project with 250 guestrooms and 16 luxury condos. Announcement coming soon.
Developer: Flag Luxury Partners
Operator: José Andrés
Location: New York City, New York
Project Class: Hotel
SOMA Hotel LLC is developing the 250-room Autograph Collection Hotel in the Mission Bay just steps from AT&T Park and the Chase Center, the new home of the Golden State Warriors. It will be the first hotel to open in San Francisco’s burgeoning Mission Bay neighborhood, which include UCSF’s Mission Bay Campus, Dropbox, Uber, Gap, and over 6,000 new residences.
Developer: SOMA Hotel LLC
Operator: To be Announced
Location: San Francisco
Project Class: Hotel
Cultivate has been engaged by SOMA Hotel LLC to provide the following services:
Underwriting Support
Operator Search
Concepting
Cultivate Hospitality Group has been tasked with finding a food & beverage operator to complement the 77 ultra-luxury residential condominiums at Townscape Partners’ 8899 Beverly Blvd project. Located at the border of
Beverly Hills and West Hollywood, the units are expected to break record
pricing for residential sales.
Developer: Townscape Partners
Location: West Hollywood, Los Angeles
Project Class: Mixed-use
Cultivate has been engaged by Townscape Partners to provide
the following services:
Underwriting Support
Operator Search
Concepting
Tenant Coordination
Hudson Yards is the largest private real estate development project in the history of the United States as well as the largest development project in New York City since the development of the Rockefeller Center.
A “city within a city,” Hudson Yards will include more than 17 million square feet of commercial and residential space, with a development program including five office towers, more than 100 retail outlets, 20 restaurants, approximately 5,000 residences, an Equinox hotel, a 750-seat public school, a cultural space, and over 14 acres of public open space. Hudson Yards is anticipated to draw over 24 million visitors every year.
The food & beverage program at Hudson Yards is to include approximately a dozen signature restaurant spaces as well as a 40,000 square foot market hall.
Developer: Related Urban
Location: New York City, New York
Project Class: Mixed-use
Retail Area: 720,000 SF
During his time as Vice President at the Related Companies, Peter Peterson was responsible for spearheading all food & beverage-related activities at the project, including:
Master Planning
Underwriting Support
Operator Search
Concepting
Following the foreclosure of the stalled Cosmopolitan Resort and Casino development in Las Vegas in 2008, the lender of the property was faced with the decision of forcing a sale of the property or finishing the project’s development. The Related Companies was hired by the lender as a fee developer to complete the project. One of the new ownership group’s primary goals was to redefine the standard of food & beverage in Las Vegas.
The opening restaurant collection, which would ultimately come to be the paragon of destination dining on the Las Vegas Strip, included world class concepts such as Jaleo by Jose Andres, STK, Estiatorio Milos by Costas Spiliadis, Comme Ca by David Myers, Blue Ribbon Grill, and Scarpetta by Scott Conant.
As Vice President at Related, Peter was brought into the development team to spearhead the food & beverage efforts, which included a full reprogramming of the existing F&B master plan. Peter implemented a pioneering F&B deal structure which was unprecedented in the history of Las Vegas.
Developer: Related Urban
Location: Las Vegas
Project Class: Hotel
Peter’s responsibilities included:
Master Planning
Underwriting Support
Operator Search
Concepting
Tenant Coordination
Marketing & PR
At the peak of the last cycle, Related embarked on an ambitious project to redefine vertical luxury living in Los Angeles with the Century, a residential condominium project in Century City. The project opened just as the recession hit, resulting in a sales slump. The building was in desperate need of a PR lift. Related felt that developing an on-site destination restaurant could refocus attention to the building.
Peter was tasked with finding an LA-based celebrity chef to craft a signature restaurant concept for the building. After an exhaustive search, Peter identified David Myers, and ultimately created Hinoki & the Bird. The result was an award-winning concept that became a hit with both residents and locals.The building went on the completely sell out and set record sales prices for residential condominiums in Los Angeles.
Developer: Related Urban
Operator: Hinoki And The Bird
Location: Century City, Los Angeles
Project Class: Residential
Peter’s responsibilities included:
Master Planning
Operator Search
Concepting
Tenant Coordination
Marketing & PR
The Galleria on Al Maryah Island is the ultimate fashion, luxury retail and dining destination in the Middle East. The Galleria combines the latest trends in fashion and dining in a modern, vibrant and striking waterfront environment.
Two floors of boutiques and entertainment present visitors with endless choices. The Galleria features the highest concentration of luxury retailers in one location in the region. It is home to 130 outlets, anchored by some of the most iconic names in fashion including Louis Vuitton, Dior, Cartier, Prada, Gucci, Van Cleef & Arpels, Mulberry and Bulgari.
The Food & Beverage offerings for The Galleria, include two contemporary café terraces and multiple waterfront dining options overlooking the Abu Dhabi skyline. From fast casual eateries to fine dining restaurants headed by signature chefs, The Galleria offers a diverse culinary experience through its 25 venues including Zuma, La Petite Maison, Café Milano, Coya, Almaz by Momo, and Emporio Armani Caffè.
Developer: Related Urban
Location: Al Maryah Island, Dubai
Project Class: Mixed-use
In his role as Vice President at Related, Peter Peterson was responsible for:
Master Planning
Operator Search
Concepting
Tenant Coordination
Marketing & PR
Porter House New York opened in 2006 as a New York-style steakhouse within the Time Warner Center Restaurant Collection. As it approached its 10-year anniversary, ownership decided that the concept was ready for a refresh.
After a redesign and renovation of the space, the rebranded Porter House Bar and Grill had an immediate increase in both cover counts and check average, resulting in a 20% increase to revenues and bottom line. In Feb. 2017, New York Magazine bestowed on the new Porter House with the designation as “The Absolute Best Steakhouse in New York City”.
Developer: Related Urban
Operator: Porter House Bar and Grill
Location: New York City, New York
Project Class: Mixed-use
In his role as Vice President at Related, Peter Peterson was responsible for:
Concepting
Marketing & PR
Asset Management