‘A second life’
Ritual House restaurant to take over Union Standard space in Downtown
Retail broker Herky Pollock will have more than a passing interest in the newest restaurant to sign a deal to lease space at the historic Union Trust Building in Downtown.
He also will have some skin in the game.
Mr. Pollock, a CBRE executive vice president, is partnering with Ricky and Michelle Kirsop, owners of the Coast & Main Seafood and Chophouse restaurant at Monroeville Mall, to open Ritual House inside the Grant Street landmark.
Ritual House, slated to open next year, will take a prominent corner spot next to the Omni William Penn Hotel and Mellon Square that had been occupied by the Union Standard restaurant, which closed during the pandemic.
Mr. Pollock, who was responsible for leasing the retail space at the Union Trust Building, said he decided to partner with the Kirsops after they asked him to do so.
“We collectively feel that with office density, events, and tourist traffic and visitors, that this is the heart and soul of Pittsburgh and destined for continued success,” he said. “On top of that, many of the highest-grossing restaurant volumes occur in and around Downtown Pittsburgh.”
For The Davis Companies, the Union Trust owner, the addition of Ritual House will complete the leasing of the 40,000 square feet of retail space in the building.
It represents a turn of fortunes for the Boston-based real estate company. It lost Del Frisco’s Double Eagle steakhouse in fall 2019, triggering a lawsuit, and Union Standard during the pandemic.
However, Del Frisco’s reaffirmed its 15-year commitment to a key corner space at Fifth Avenue and William Penn Place in June with the settlement of the lawsuit.
And now Ritual House will take over the Union Standard space.
“We’re obviously disappointed that Union Standard fell victim to the pandemic but we always believed in this concept and the idea of having a broad diverse range of high quality offerings for tenants and neighbors in Downtown Pittsburgh,” said Jonathan Davis, CEO and founder of The Davis Companies.
“We knew there would be a second life for this space and we’re delighted that it happened so quickly.”
The Davis Companies had sued Union Standard to collect $72,045 in back rent and other damages after the restaurant closed. As with Del Frisco’s, that case was settled. Terms were not disclosed.
Ritual House will offer an “array of eclectic American food and specialties from around the world in a spirited environment specializing in unique craft cocktails,” Mr. Pollock said.
The Kirsops opened Coast & Main in 2018. Mr. Kirsop is an award-winning chef with classical training in the Pacific Northwest. Ms. Kirsop’s management career has included stints at Monterey Bay Fish Grotto and McCormick & Schmick’s Seafood & Steaks, where she met her husband.
“This is an ideal opportunity to showcase our offerings in a worldclass building,” Mr. Kirsop said in a statement. “We are immensely proud to bring our uniquely curated food to Pittsburgh as we have worked our entire careers for this moment.”
Ritual House will join an array of offerings at the Union Trust Building. In addition to Del Frisco’s, which is to open next September, they include Eddie V’s Prime Seafood, The Speckled Egg, Freshii, and Jimmy John’s.
Since buying the 11-story Union Trust Building at sheriff sale for $14 million in 2014, The Davis Companies has poured more than $100 million into the property to restore and reposition it.
It will have increased the building’s office occupancy from 39% to 90% once it has completed another lease it is now negotiating. It has attracted tenants from some of Downtown’s larger skyscrapers to the building, built by industrialist Henry Clay Frick and opened in 1917.
“We always believed in the Union Trust project. We always believed Pittsburgh would embrace the concept. We hit some bumps in the road that none of us anticipated during the pandemic but our commitment never wavered. It’s great to see the vision fulfilled,” Mr. Davis said.
The Davis Companies put the building up for sale in 2019 but then pulled it from the market a couple of months later. Mr. Davis said he has no plans to sell it right now.