We are pleased to report we have recently replaced Chino Locos Burritos with Dang Smoke BBQ at the 359 sq ft retail space at 4 Greenwood Ave (at Queen St.). The previous tenant had fallen behind in their rent payments and we were able to quickly terminate that tenancy and lease the space to Dang Quach, who has an established food truck business serving gourmet BBQ foods. Dang has a loyal online following which we expect will support him in this new permanent location for his business. More details on his business are available at: www.dangsmokebbq.com.
The terms of the Lease are as follows:
Term: 5 years from April 1, 2023 to March 31, 2028
Net Rent: $2000 per month or $66.85 psf
Renewal Option: 1 term of 5 years at the greater of:
i) market rent at that time,
ii) an increased rent directly proportionate to any increase in the CPI (Consumer Price Index) during the initial term, or
iii) the rent payable in the original term.
Guarantee: personal guarantee from the owner, Dang Quach.
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