Friday, February 1, 2008
New lease signed on former Lee's Lakeside
space
Orlando Business Journal - by Dan Ping Staff Writer
ORLANDO
-- A California-based restaurant company may open a contemporary Italian
restaurant and wine bar in the former Lee's Lakeside restaurant on the south
shore of Lake Eola.
The 10,000-square-foot space at 431 E. Central Blvd.
was leased Jan. 24 by Tom DiGiorgio, chief operating officer of Pompano
Beach-based DK Group Inc., says Tom Prakas, president of The Prakas Group real
estate firm which brokered the deal.
Prakas says DiGiorgio is recruiting
famed restaurateur Piero Selvaggio to open a version of his Valentino restaurant
in Orlando. It would be the first Valentino eatery in Florida.
DiGiorgio
could not be reached for comment.
Selvaggio confirms he is talking with
DiGiorgio. "It looks promising, but nothing is written yet," says Selvaggio, who
expects to reach a decision by the end of February.
Selvaggio opened the
200-seat Valentino in Santa Monica, Calif., 35 years ago, and the restaurant has
garnered a reputation as one of America's best Italian fine-dining
establishments, with a wine list with more than 2,500 choices.
Even so,
one local expert wonders whether a traditional fine-dining restaurant with a
heavyweight reputation is right for downtown.
"I'm surprised they're
thinking Italian," says Aaron Allen, founder and CEO of Lake Mary-based
Quantified Marketing Group, which develops marketing strategies for restaurants.
"The area needs something a little bit more hip. I'm not sure the people they
need to attract -- those in their late 20s-40s with high disposable incomes --
would be frequent customers."
An upscale restaurant with an urban
atmosphere and sophisticated menu is a better concept, says Allen, who points to
Hue as an example.
"Really, the concept should be Hue version 2.0,
because Hue has failed to evolve or offer anything fresh," Allen says. "Downtown
is begging for something new."
Selvaggio believes he can offer that with
his restaurant, which would be called P.S. Valentino. Its menu would feature
medium to high-priced selections familiar to his Santa Monica
restaurant.
Selvaggio also would carve off a portion of the space for his
V-vinbar concept, which would highlight the restaurant's extensive wine list and
small-plate food offerings appropriate for noshing while
socializing.
"Orlando is gaining a reputation as a city that appreciates
good wine," Selvaggio says. "It reminds me of Las Vegas when we opened Valentino
there eight years ago."
If Selvaggio and DiGiorgio reach an agreement,
the restaurant would open in the fall. Prakas says DiGiorgio has a 10-year lease
with three five-year options. The agreement is with property owner Post
Apartment Homes LP. Prakas declines to place a dollar figure on the
lease.
Renovations on the interior are expected to begin in
March.
Valentino
Description: Upscale Italian restaurant with
extensive wine list
Owner: Piero Selvaggio
Other locations: At the
Venetian Resort in Las Vegas
Contact: (310) 829-4313,
www.pieroselvaggio.com
Dan Ping can be reached at (407) 241-2895 or via
e-mail at dping@bizjournals.com.
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