Chipotle, Staples, Aaron Bros. Fleeing State Street

 

 

Aaron Bros. at Cota and State street will be leased.

To the shock and dismay of many passers-by March 29 and 30, Chipotle Mexican Grill, 723 State St., was closed in an apparent lease dispute.

A sign apparently posted May 29 says, “This restaurant is permanently closed. We apologize for any inconvenience.” The sign says the Chipotle at 3851 State St. in La Cumbre Plaza is still open.

On May 30, another notice was posted on the former restaurant’s door. It was a letter from an attorney for the owners of the building, Paseo Nuevo LLC.

Dated March 29, the letter says Chipotle breached its lease by not continuously operating. It said Chipotle will face legal action if it “does not cure its breach of lease.”

Meanwhile, on the 400 block of State Street, it has become public knowledge, according to sources, that Staples office supply store is closing. That’s 17,000 square feet at $3 a square foot for a triple-net lease. That type of lease includes rent, utilities and services such as cleaning.

And at the corner of State and Cota streets, Aaron Bros. art supply store has garish signs in its windows that say things such as, “Everything in Store on Sale.” None of the signs indicates the store is going out of business.

It should be noted that Aaron Bros. parent company said  it was closing all but three of its 94 stores nationwide, except three in Texas. so, it was just a matter of time for the Santa Barbara shop, but that’s a corner lot, which is hard to fill.

Actually, sources say  the space is for lease at $3.50 per square foot for a triple-net lease and available by approximately July 1

Meanwhile, also on the 600 block of State Street, the Night Lizard Brewing Co.  still hasn’t opened after posting a sign at its location a year ago that says, “Coming Soon.” The owners said last June that they planned to open in 2017.

Stay tuned.

 

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