Popular neighborhood hub Bing’s abruptly closed its doors earlier this week, and the restaurant space is now on the market for a new business to take its place.
Stan Moshier and Lori Campbell opened the restaurant in 1999 as Bing’s Bodacious Burgers, and then sold the business to George and Kylie Marshall in 2011. The business changed hands again in October 2015, and was owned by Karam Slim up until its closure.
Madison Park residents and real estate investors C Jairus and Winifred Stratton own the property, and only the business is up for sale.
“It’s a great opportunity in a great neighborhood for some operator,” said Kelly Gaddis, vice president for NAI Puget Sound Properties, who is handling the sale. “The landlord would write a new lease, and the neighborhood could get a great new restaurant.”
The 3,000-square-foot restaurant space at 4200 E. Madison St. is listed for a monthly rent of $9,689, and prospective tenants are encouraged to bring their own concept. Bing’s had a lease that was good through October 2020, with two five-year options.
“I think he’s open to writing a new 10-year [lease], plus some options,” Gaddis said.
MPT has reached out to the Strattons and Slim to find out more about why Bing’s suddenly closed without notice.
Gaddis said it’s sad to see a neighborhood hub go away, but the turnkey space provides a great savings for someone to open a new restaurant there to serve Madison Park residents.
“A facelift is much cheaper than building from ground-up,” he said.