Culture, Experience Make Papadopoulos Properties Stand Out
How does one brokerage firm do the majority of DC-area restaurant deals (and maintain a thriving full-service shop) year after year?
He said the firm’s seven-broker operation is not in competition to get deals, but works together to get them done, sometimes representing both the landlord and the restaurant tenant on a deal.
Much of the team is literally family; Tom’s brother and son, as well as brothers John and Constantine Gogos, are part of the team. Every broker on the team was born and raised in DC.
Even things like the physical layout of the office helps foster transparency, Papadopoulos said. Housed in a classic DC row home just off Dupont Circle, the space is the kind you might expect to house a restaurant, and Papadopoulos said the open layout helps foster a sense of collaboration among the firm’s brokers.
It also does not hurt that the conference table turns into a pool table.
“Everybody always knows what everybody else is working on, a complete and fluid flow of information,” Papadopoulos said.
With over 35 years in the business and a combined 100-plus years among everyone on the team, the depth of experience means Papadopoulos can see potential in restaurant groups that other firms might pass over.
That has meant different things in different eras. Take Outback Steakhouse, which had two restaurants in Florida in 1989. Outback turned to Papadopoulos to expand to DC as its second market, and within five years, its had 30 locations in the DC region.
More recently, the firm has been instrumental in the rapid expansion of fast-casual concepts like Chop't and Roti Mediterranean Grill, as well as service operators like Matchbox Food Group, Knead Hospitality and Fox Restaurant Concepts.
And two of the most highly acclaimed restaurants in DC that are known throughout the country, Rose’s Luxury and Komi, grace the firm’s long list of clients.
The firm’s also actively involved in selling shopping centers and other small commercial properties, as well as other retail leasing, and has been for decades. It was instrumental in bringing the first three Walgreens locations into the District.
With that kind of résumé, it was no surprise that the team represented the restaurant tenants on five out of the six restaurant deals at CityCenterDC, where the developer, Hines, aimed to bring to make a significant splash with the restaurant offerings at the mixed-use development by bringing new-to-market restaurant groups.
“We talk restaurant language every day,” Papadopoulos said. “Our understanding of the restaurant business and knowledge of the market allows us to assist operators with their strategic expansion and landlords with their leasing plans to secure the best tenants. We see the market for restaurants better than anybody.”
We are thrilled Papadopoulos Properties has joined us as a founding partner of our Bisnow Beltway Bash, to be held at the TAO Nightclub in the Venetian on Monday, May 22, from 5:30-7:30 p.m. in Las Vegas. Register here.