Florida coffee lovers are always on the lookout for local shops serving great brews. They would likely be disappointed to learn that a favorite shop was in danger of closing. That is just what is happening in another state where ongoing real estate disputes have threatened the future of a coffee shop business.
Several people own the business, which is housed in a multiple unit building. The owners of the coffee shop rent the building and say their intent from the very beginning was to eventually purchase it. When they first leased the building, it was apparently in pretty bad shape and in need of quite a few repairs.
They reportedly struck a deal with the landlord to pay lower rent in exchange for committal of $60,000 toward the needed improvements. Their lease was set to last three years with the intent to purchase it once it expired. However, they were unable to qualify for the loan needed to do so.
A nearby parking lot is also owned by the landlord and shared by the coffee shop and another business. The coffee shop owners say they couldn’t get the loan because they failed to prove (in writing) they had access to the parking lot. Coffee shop owners accused the landlord of devaluing the property and pulling strings to impede their ability to get a loan because she wants to bilk them for more money on the property. Anyone in Florida facing similar real estate disputes may want to enlist the help of an experienced attorney to increase the chances of obtaining a favorable outcome.
Source: tahoedailytribune.com, “Lake Tahoe coffee shop/cafe and landlord in dispute over building sale“, Claire Cudahy, Jan. 12, 2018