Frankfort Plaza Executes Lease with Westside Children's Therapy
We are pleased to announce that we have executed a lease with Westside Children’s Therapy, Inc. a well-regarded privately held practice that provides quality occupational, physical, speech, and ABA therapy. The lease encompasses the entire 7,958 square foot vacant Cardinal Fitness space. The annual base net rent is $12/sf for a 5-year 6 month term that extends through September 2020. The tenant will complete their own build-out, and as Landlord, Frankfort Plaza LLC will contribute $80,000 ($10/sf) after the work is completed.
The lease has been executed with Minute Pharmacy for 1,331 square feet for three years at $14/sf net rent, and they are finalizing the licensing and completion of the tenant build out plans. The Landlord is contributing an amount not to exceed $18,000 ($13.52/sf).
We are trying to finalize a Letter of Intent for the 1,331 sf vacant existing salon space and we continue our discussions with a Dunkin Donuts franchisee for the 1,800 sf at the West end of the shopping center. This would require a drive thru to be added to the building. We will know shortly if this will be acceptable to the Village and the tenant.