"This is the opening of their first restaurant," explains Pete Brown of Insite Commercial Group/TCN Worldwide's Southfield office. Brown and colleague Chris Jonna represented the landlord, Detroit-based Curtis Group, in the transaction. Jiddo's owner was self-represented.
Brown tells GlobeSt.com that the space is currently being built-out and renovated to accommodate the new tenant, which will officially move into the space during March 2006. "The tenant represented himself, and as far as I know, has no expansion plans," Brown adds. The center has a quoted lease rate of $20 per sf, triple net, with mainly local and neighborhood service tenants.
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