Rock Bottom Brewery tries to hang onto downtown lease
By Kathleen McLaughlin
Indianapolis Business Journal / IBJ.com
November 3, 2010
Landlord John Goodman wants Rock Bottom Brewery out of its West Washington Street location in downtown Indianapolis by next June.
Goodman recently rejected the restaurant's attempt to renew its lease for five more years. Rock Bottom, part of the Colorado-based chain, has occupied 14,600 square feet at 10 W. Washington St. since June 1, 1996.
The renewal notice was invalid, he said in an Oct. 8 Marion Superior Court filing, because it didn't come from the proper entity, which is named tenant Walnut Brewery Inc., and wasn't delivered by the U.S. Postal Service.
"It is unusual," said John Buerge, director of development and property management for Rock Bottom Restaurants Inc. in Louisville, Colo. "I think this is more he wants the space back for whatever reason."
Buerge insists that Rock Bottom's notice was adequate because it arrived via overnight delivery from UPS and required a signature. Similar cases in other states have been resolved in the tenant's favor, he said. Rock Bottom filed a notice to have the case moved to U.S. District Court of Southern Indiana.
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"Interestingly, koi, when put in a fish bowl, will only grow up to three inches. When this same fish is placed in a large tank, it will grow to about nine inches long. In a pond koi can reach lengths of eighteen inches. Amazingly, when placed in a lake, koi can grow to three feet long. The metaphor is obvious. You are limited by how you see the world."
-- Vince Poscente
-- Vince Poscente
Tuesday, November 30, 2010
Object lesson--follow the exact terms of the lease when exercising an option to renew!
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