Restaurant Brokerage Firm, The Prakas Group, Celebrates the Opening of Danny DeVito's Restaurant: The Florida-Based Firm Brokered the Deal betwe

BOCA RATON, Fla. (BusinessWire EON) June 28, 2007 -- "I had owned 27 restaurants and nightclubs before starting the brokerage firm. I know the business and that's why people keep coming to me from all over the country," says Tom Prakas, President and owner of The Prakas Group. "Last year we opened a second office in Orlando to meet demand and the two offices' combined ten field agents closed the year with 55 deals showing $70 million in revenues."

Initial news of the high profile DeVito deal broke in mid-2006 and was widely covered by national media. Shortly thereafter, the South Florida-based Falcone Group tapped Prakas to be the exclusive restaurant broker for their landmark Philadelphia project, Two Liberty Place. The restaurant, which is on the 37th floor, is slated to be the city's highest restaurant.

"It was a great year for us. We closed over a deal a week and have expanded our reach outside of Florida," says Prakas. "Putting together the DeVito deal really helped in that regard. The business of celebrity can really push the peripheral players into the national limelight."

The Prakas Group recently ventured into the Las Vegas market with its client Taverna Opa who leased a restaurant space there for a total lease value of $7.2 million. Prakas has been the exclusive restaurant broker for Taverna Opa since 2002.

"There are very few brokers out there who focus on the hospitality industry as more than simply real estate and actually know the ins and outs of the business," says Prakas. "Everyone on my staff has restaurant or nightclub operational experience. We even have a field rep dedicated to franchise work. It's that kind of understanding of the business that keeps us on top."

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