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To: Redevelopment Commission
From: Staff - Debrah Jennings, Property Manager
Subject: Proposal to Lease 131 S. Michigan St.
Date: August 6, 2010
Staff has received from CB Richard Ellis a proposal to lease 131 S. Michigan Street. This location is
the former Quizno's restaurant, which became vacant the end of June.
Bruno's Pizza has shown an interest in leasing the space with the approval of the following terms:
3 years, 2 months lease term, beginning with 2 months rent abatement. Tenant will be responsible
for improvement work and utilities. Bruno's Pizza requests the right to sidewalk seating and to
renew the lease for an additional 3 year term.
Bruno's proposed rent per month is $1,200.00 the first year, $1,300.00 the second year and
$1,400.00 the third year beginning with 2 months free rent. This also includes CAM expenses.
H:`WPDATA correct memo.doc