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One step closer to opening!

August 9th, 2007

Well, I received a great phone call today. Let me paint the scene first before I explain the great news I received today.

I’ve been searching for a location for almost three months now with no luck… so far. I thought getting a business loan would be more difficult, but apparently not. Anyways, I found a place close to where I live in Westminster, CO - but the space was WAY too big. I was getting desperate, so I decided to start making some interesting requests. Like split the unit. Not that this is out of the ordinary, but I’m not familiar with the industry - hence why I have a commercial broker.

Last month my broker asked the listed broker about the vacant spot, if the landlord would be willing to split the unit. We hadn’t heard back from her in a couple of weeks, and I was starting to loose patience and hope. So like any other entrepreneur I started to look around again. Can’t just sit around hoping something will come up.

So today’s phone call was to let me know that the landlord was willing to split the unit, but he needed to run it buy Safeway, the anchor store. I guess they have a say on how some units are being used and who moves in. I won’t find out for sure what they say until maybe next week, but I don’t think Safeway will say no. It gets even better though…! Typically when a unit is split the costs are passed down to the tenant(s) that are taking the place. So my rent (and the other tenant) would go up. Not great, but the location is so prime that I was willing to pay the increased rent. Plus, I was only expecting to get about 1700 sf so the rent wouldn’t be soo expensive. However… since the landlord may have another party interested in the other half, and only needs about 1200 sf, then I could get a larger space, AND my rent is cheaper then what I expected. Not a bad thing to happen for someone that thought things weren’t really working out for him lately.

I’ll keep you guys posted as soon as I get some sort of confirmation in moving forward (or backward). :-)

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