Quote:
Originally Posted by DARFAP
That particular store closed because the rent for the location was doubling. There are other Pet Sense stores in the area, like Ocala and Mt Dora I believe. They have a store locator on the web.
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I'm not sure how anyone would know the terms of PetSense's lease, unless they were a party to the transaction?
I believe PetSense has been open about 5 years now? A typical Retail Lease would be for a 5 year term, with at least 1 or 2 Options to renew in 5 year increments, at a known rent. That would mean that Pet Sense would have known exactly how much their rent was going up at the 5 year mark.
Apparently, they weren't as successful as they thought they would be, hence they're not renewing their Lease.
The Developer is not responsible for PetSense not meeting their expectations and leaving, PetSense is responsible.