Name: Josh Sapienza
Company: Legend Properties, Inc.
Introduce yourself. What does your company do?
Legend Properties, Inc. is a full service commercial brokerage firm that has six offices on the East Coast from Florida up to New Jersey. We specialize in commercial sales, leasing, and investment properties, as well as development.
I specifically operate in the hospitality division of real estate. I work with experienced operators, chefs, and private equity individuals who are looking to purchase, lease, or sell restaurant properties. I strive to bring the landlord, chef, and managers together in regards to properties and locations. I work with both restaurants that are initially starting up, as well as those who are inexperienced or looking to fix a previous mistake. As a restaurant agent, I represent restaurateurs and chefs in a multitude of capacities, including product sourcing, strategic alliances, and organizational development.
Why is your service important in running a restaurant business?
There are five reasons why restaurants fail and one of them is poor location or inexperience negotiating in lease or sale of property. Site selection is a complex operation filled with lots of variables and demographics, but is essential for each restaurant.
Why did you join the Tri-State Hospitality Network? What does it bring you?
Tri-State Hospitality Network brings the opportunity to network multiple services in one location at one time. Time is a valuable commodity, especially in the restaurant business and real estate. Being a member of TSHN has made time one less thing to worry about. In addition, it is a huge benefit to be able to network with people who provide other services for the restaurant business. Working with restaurants, I rely a lot upon networking in my business.
Do you have any success stories?
Being a member of Tri-State Hospitality Network, I have been able to network with many people including Pete Porretta of Lighthouse Architects and Jessica Diamond of Goodwin and Associates.
Through TSHN, I made contacts that recently helped me to close a high profile deal at 777 South Broad Street. Through networking, we were able to get into a space that was originally out of reach and in turn negotiate an attractive deal. From the support that TSHN offers, I was able to put the pieces together to make this deal possible.
If you had to recommend one restaurant in the city, what would it be?
Tiffin Restaurant has very good Indian food, but not all of it is spicy! And it has several locations in the Philadelphia area. Meme is also good for rustic American food.
