Thursday, July 8, 2010

Space Tour

This afternoon, I toured a potential space for Zoe. I had originally planned to meet with software/hardware Vendor B but they had to postpone so it worked out well that this opportunity came along today!

One of the nice things about today's adventure was that the tour was conducted by someone who I know from my past career working in real estate. There are some pluses and minuses about the space and sometimes I feel like Goldilocks "Too big/Too small, Too warm/Too cold". A plus is that the landlord is motivated to work with the base rent and is interested in putting retail in this space (there is also a restaurant looking at the space). The negative is that since the space had already been used for another purpose, the TI (Tenant Improvement) allowance may be limited. But it is potentially negotiable. The lease is a triple net lease and the broker was able to give me an estimate as to what the net would be.

I do want to get an idea of what they might be able to do for me. I'll send my business plan next week so that they can have an opportunity to put a proposal together. Progress!

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