Green Line Cafe Expansion into Center City
Green Line Cafe is a successful coffee shop client who has been in business for 10+ years, having several locations in the University City area, and wants to expand to Center City Philadelphia.
Process of Eckstut Consulting:
It is determined how much space is needed that works for the demographics, the rent, and other monthly property expenses that the client can afford, including tenant improvement money needed from the landlord.
Search for location:
Direct communication contacts with numerous commercial retail brokers in the region
Contact friends and associates with knowledge of the area
Direct contact with property owners
Visit potential sites.
Decide on site. Negotiate a letter of intent for rent, term of lease, guarantees, tenant improvement money, landlord’s work, contingencies.
In conjunction with attorneys, write and review lease.
Sign lease and begin build-out.
The client successfully opened another café at a corner location in the Comcast Center area that is now thriving.