A major property lease agreement was signed on Tuesday to transform the now mostly empty Arsakeio arcade, strategically located between Panepistimiou and Stadiou avenues in the heart of central Athens, into a multiplex food court and mini shopping center, with an emphasis on traditional Grecian cuisine and the so-called "Mediterranean Diet".
The arcade once housed the very ambitious "Book Arcade" (Stoa tou Vivliou), where publishing houses of all sizes had storefronts, along with cafes and a few stationary shops and leather goods outlets.
The 35-year lease was signed by the company Legendary Food IKE and the arcade's owner, Philekpedeftiki (Educational Society of Athens), the non-profit organization that also manages the private Arsakeio-Tositsia primary and secondary schools.
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