Palomino Euro Bistro to Open in Ronald Reagan Building and International Trade CenterFirst Full-Service Restaurant Anchors New Partnerships in Federal Triangle Area

GSA # 9540

December 8, 1998
Contact: April Kaufman (202) 501-1231
Linda Meyer (202) 312-1300
Sara Plendl or Lorne Richmond (206) 682-6979

WASHINGTON, DC - The U.S. General Services Administration (GSA) and Trade Center Management Associates (TCMA) today announced the first full-service restaurant lease for the Ronald Reagan Building and International Trade Center. Seattle-based Restaurants Unlimited will open Palomino Euro Bistro in the Federal Triangle-area building, which houses a mix of private offices, federal agencies, conference facilities, and exhibit halls.

Restaurants Unlimited has signed a ten-year lease for nearly 11,500 square feet in the Ronald Reagan Building and International Trade Center. The company expects to open Palomino Euro Bistro there in June, 1999.

"Public-private partnerships, such as the partnerships in this building housing federal agencies and diverse types of private sector tenants, play an important role in the vitality of our nation's cities," said GSA Administrator David J. Barram. "This administration has been consistent in its commitment to our urban areas, and I am especially proud of our work in helping to rebuild Washington. This complex contributes to that rejuvenation."

Barram added that the building is expected to generate $45 million annually in business revenue and sales tax for the District of Columbia.

Palomino Euro Bistro is recognized for its artful, contemporary d�cor of hand-blown glass in the Pilchuck tradition, African mahogany wood, painted Tuscan columns, and marble from Spain, Italy, and Portugal. The multi-level restaurant will be located in the octagonal room overlooking the Woodrow Wilson Plaza and will feature exhibition kitchens and a circular grand staircase. The Plaza is brick and features sculptures commissioned through GSA's Art-in Architecture program specifically for the Reagan Building.

Palomino Euro Bistro is a lively restaurant in a location that will make it a versatile spot for lunch or dinner. Its menu will feature Mediterranean cuisine, including signature dishes such as grilled Atlantic salmon, roasted tiger prawns, Dungeness crab cakes, spit-roasted garlic chicken, and Roma-style thin pizzas. Dinner entr�e prices will range from $7.95 to $19.95.

Founded in 1969, Restaurants Unlimited currently owns and operates 26 full-service restaurants in Alaska, California, Colorado, Hawaii, Indiana, Minnesota, Ohio, Pennsylvania, Texas, and Washington. The company features two restaurant groups, including Palomino Euro Bistro and Kincaid's Fish, Chop, & Steak House.

"We are very excited to bring the Palomino concept to the Washington, DC area," said Warren Wolfe, President of Restaurant Unlimited's Palomino Group. "Palomino in the Ronald Reagan Building and International Trade Center will be our biggest and most innovative design yet, and we look forward to a long and prosperous partnership."

Brian Dacey, Managing Director of TCMA, said that Palomino Euro Bistro is an important tenant for the Ronald Reagan Building and International Trade Center because it "anchors" the full-service restaurant business in the building "that is a showcase for public-private partnerships. It is a model for exactly the type of service entities we want to attract to this world-class center."

Formally dedicated in May of this year, the Ronald Reagan Building and International Trade Center is 90% occupied. It houses about 7,000 public and private sector employees in a unique partnership that actually creates two buildings under one roof. Not only does the building consolidate headquarters for federal agencies, it serves as a platform for international trade.

GSA oversees the Ronald Reagan Building and International Trade Center, which has more than three million square feet, and hired TCMA in 1995 to manage and market the trade center and the vast public spaces.

According to GSA, over 75 percent of the building houses nearly 5,000 employees from three primary federal tenants: the U.S. Agency for International Development, the U.S. Customs Service, and the Environmental Protection Agency. The Woodrow Wilson International Center for Scholars is also housed in the building.

The remaining 500,000-square-foot International Trade Center features an international conference and event center, the U.S. Center for World Trade, private trade-related office space, and an exhibit area called the American Showcase on the Global Economy. A 950-seat food court and a parking garage with 1,950 spaces are also part of the center.

TCMA is a joint partnership of Urban Retail Properties Company of Chicago and The John Drew Company of Boston. Urban Retail Properties, a subsidiary of Urban Shopping Centers, is one of the nation's largest retail property managers and is recognized as an industry leader in all aspects of property management, leasing, development and marketing. The John Drew Company is a full-service real estate development and management firm which has created and spearheaded the development of projects including the World Trade Center Boston and Bayside Exposition Center.