Saturday, March 6, 2010

Dear Landlord of the Former Popolo's Space

Here's a tip for your leasing agent.  I know a successful restaurant looking for a new space.  The owner was just on TV in tears looking at the shell of her 25 year old restaurant which, with all good intentions to rebuild the original spot, may be homeless for a good while.

You should actively be seeking this lady out to fill your space.  What is more romantic than a tragedy followed by a rebirth?  Romance is a wonderful draw for a restaurant!  I smell the story of the year, here - not to mention percentage rent the likes of which you've probably not seen in quite some time on that space.

Jeannie Terrilli stated she has insurance to rebuild her successful model, the landlord she currently has may or may not want to create something she's interested in being a part of.    Strike now while you can, don't leave that Preston/Royal shell empty, collecting utilities, real estate taxes and upkeep for you to pay the whole time, IJS.

Or ignore my suggestion, wait for the next restaurant start-up to come along........when? Capital is not exactly flowing into the restaurant sector. And if it's a new concept, how much risk on a tenant are you willing to accept - as in 2/3's of new restaurants fail within the first 3 years even in a strong economy.

I smell money, make it happen.

DISCLOSURE:  Terrilli's happens to be one of my favorite Dallas spots.  I have every intent to get them closer to my neighborhood while I can.  Please don't hate me East Dallas.


Alfonso Cevola said...

really good idea, Amy. Hope someone is listening to you...

Titian said...

That would be soooo wonderful!