All Forum Posts by: Cory St. Esprit

 I'm not sure what you're asking, @Alyssa Holbrook. I'm sorry. I'm not trying to make it mean anything - I understand they're non-profit, but they're also a business who signed a lease. 

Thanks! I was thinking along the same lines. I just don’t want to be stuck without a payment while I relocate the restaurant. There’s a part of me that feels bad they’re a non profit but I’ve also tried to tell myself “business is business” and they signed a lease.  

I own a commercial space that currently has a thrift store in it. They’re an arm of a local non profit. Good tenants. Always pay on time. Their business has grown and they want to leave to find a big space. They have 3 years left on the lease. My attorney has reviewed the lease (I inherited it when I bought the building and we did a lease assumption). There’s no clause to break early - meaning unless I let them go, they’re stuck. I own 28 Subway franchises and would like to move a Subway to the space but it’ll take a year to get it built. 

Bought a on asking tenant to pay a 6 month buyout clause (January to June 2024) just to vacate space by 12/21/23? 

I ended up getting to know them and liked them - so I did a flat rate increase and kept them for a year. They’re very sweet. Flipped the other 3 units and we have 100% occupancy 

 If you're choosing between Pittsburgh and Cleveland, Pittsburgh is probably going to be the better option from the standpoint of industry, therefore keeping people in the area. I live in Pittsburgh, so biased but own businesses in Cleveland market too. Pittsburgh has multiple top tier universities, we have a booming technology center, lots of movies/shows being filmed and studios being built due to tax friendly policies, we have moderate weather due to being out of the Lake Erie snowbelt, we are low-to-medium cost of living, and still have a ton of industry. I now have 3 (soon to be 4) commercial properties in the area. 

 I sent you a note through the website contact 

 I’m not exactly sure what this is Ryan. I’m sorry. Can you explain?

SBA can't do the add backs we need, since the Seller ran so much person through the business. Both PNC and Huntington denied it (both banks I have great relationships with) 

I am looking for information on a hard money lender for a commercial building. I'm a Subway franchisee with 24 restaurants. I'm purchasing an additional unit in Western PA that includes the real estate. I have the franchise funding down, but am looking at options on the commercial space. It's a stand-alone building that is designed for a drive-thru (I just need to add a couple pieces of equipment to make it so), about 2,000 square feet.