Paying for tenant buildouts should hasten Farish opening, ITS developer says

by

Published: November 20,2011

A need to speed up the opening of the Farish Street Entertainment District led Watkins Development to decide to do its own buildout of the clubs, restaurants and shops along the initial block of the long-planned project.

The new plan would allow the interior work and customizing of the spaces for tenants to begin right away rather than waiting for tenants to obtain financing to pay for the buildouts, said David Watkins, president & CEO of Watkins Development. The half dozen 15-year leases already signed, including ones for the B.B. King’s Blues Club, Zac Harmon’s Subway Lounge and Wet Willie’s frozen drink bar, will have to be renegotiated upward to reflect the buildout costs, Watkins said.

The recently signed tenants and prospective ones are pleased with the new lease arrangement, he said, noting it lets them avoid the upfront costs of the buildouts.

>>> SEE FULL STORY <<<

[RSS Feed] [del.icio.us]



To sign up for Mississippi Business Daily Updates, click here.

POST A COMMENT

 

FOLLOW THE MBJ ON TWITTER

Twang & Tourism: The Country Music Trail

Our annual "Come See Us" magazine offers ideas for spots in Mississippi ranging from golf to culture to history to food. Click the photo for ideas, stories and access to the digital edition of this year's magazine.

Top Posts & Pages

%d bloggers like this: