A successful coffee shop/bakery client that has been in business for 10+ years and several locations in the University City area, wants to expand to Center City Philadelphia.
- It is determined how much space is needed, the demographic desired to reach revenue projections, the rent that the client can afford – including tenant improvement money needed from the landlord
- Search for Location:
- Direct communications contacts with numerous commercial retail brokers in the region
- Contact friends and associates with knowledge of the area
- Internet lease sites searches
- Visit potential sites.
- Decide on site. Negotiate a letter of intent.
- In conjunction with attorneys, write, change, edit, and review lease.
- Sign lease.
- Build-out space.
- April 2015 – Opens another bakery/café at a corner location in the Comcast Center area.