Thanks folks for the insight. evolsd, I’m sending you a PM just for curiousity sake. Tenant is a large fast food chain. The lease signed is every 20 years, it was just renewed recently.The lease stipulates rental rates, with step-up rates every 5 years…
Flyer, definitely….In fact, I think we’re getting out as soon as we can.. Things have gotten ugly very fast. And although we’re personally neutral in this matter. Eventually, if we stay in, we figure we can’t possibly beat the GM because he is an expert at ripping people off (legally, though with definite ethics issues)…If we stay in for the long haul, we’re gonna get screwed, just like he already tried to do with the other partners…And he is hell beat at eating everyone else in this arrangement.
It’s kinda too bad, because the return was really really really good, and the potential was there. I think that’s why the GM is so hell bent on screwing everyone else over it.
