All articles tagged with #lease
Capitol Hill staple Rain Shadow Meats will close its Melrose Market shop after losing its lease; founder Russ Flint says the lease won’t be renewed and the store plans to stay open through December 23, 2026 as it searches for a new home, amid turnover and rising rents at Melrose Market.
Andrew Mountbatten-Windsor is unlikely to receive compensation for leaving Royal Lodge due to its poor condition, and an MPs' inquiry into the Crown Estate's royal leases is expected to be launched next year. He has given notice to vacate the property, which he leased since 2003, amid ongoing scrutiny of his financial arrangements and recent loss of royal titles.
ESPN is taking over the lease for NFL Network’s studios near SoFi Stadium as part of a broader deal where ESPN will acquire NFL Network, RedZone, and NFL fantasy assets, with the NFL taking a 10% stake in ESPN; the deal is pending regulatory approval.
Cleveland has filed a lawsuit to halt all work on a new Browns stadium in Brook Park, arguing that the team should not take steps towards building a new stadium before their current lease expires in 2028, potentially forcing the team to stay in Cleveland longer without a long-term deal while negotiating a new stadium agreement.
Tesla has introduced leasing options for its Cybertruck, with monthly payments starting at $999 for a three-year lease with a $7,500 down payment. The all-wheel drive version is available under this plan, while the more advanced Cyberbeast model can be leased for $1,715 a month with no down payment for a two-year term.
NASCAR has acquired the lease to manage racing operations at Bowman Gray Stadium, a historic track with deep ties to the organization. The lease runs through December 2050, and NASCAR plans to continue the track's legacy while potentially making small improvements. The venue, known for its confined racing surface and full-contact racing, has a rich history and draws robust crowds. While no immediate significant changes are planned, NASCAR's acquisition solidifies the track's future, and there's potential for it to host a Cup, Xfinity, or Truck race in the future.
The Oakland A's and city officials had a positive and productive first meeting regarding the team's lease at the Coliseum, which is set to expire this year. The A's are eager to stay in the Bay Area due to TV contract revenue, but Oakland has made clear demands, including leaving behind their history and colors and increasing the rent at the Coliseum. Despite the A's exploring other locations, both parties are expected to continue negotiations, with the hope of reaching a favorable outcome.
Sarah Ferguson and Prince Andrew are determined to stay at their home, Royal Lodge, in Windsor, despite her recent skin cancer diagnosis. Andrew leased the property from the Crown Estate in 2003, and the lease is set to last until 2078. Despite reports that King Charles wants them to leave, Andrew's camp insists that the lease entitles them to stay. Some believe the couple may eventually remarry, while others think it's unlikely due to potential restrictions on Sarah's private sector work.
Giant Eagle, a supermarket chain, is relocating its headquarters from O'Hara to Cranberry, Pennsylvania. The company has signed a long-term lease for a 100,000-square-foot building in the Cranberry Woods Business Park and plans to move its corporate team members there this spring. The new headquarters will operate in a hybrid model, combining in-person collaboration with remote work, and will provide various working and meeting spaces to foster teamwork and creativity.
Rivian's electric truck is now available for lease in 14 US states, expanding its availability to more customers interested in electric vehicles.
Chicago has signed a lease for a property in Brighton Park to build a migrant tent camp, with the monthly rent costing over $91,000. The city's mayor, Brandon Johnson, confirmed the lease after returning from Washington D.C., where he sought federal assistance for the migrant crisis. However, some local officials expressed frustration over the lack of transparency in the decision-making process. As more migrants arrive in the city and temperatures drop, Mayor Johnson emphasized the urgency of taking action, but securing funding from a Republican-controlled House of Representatives may prove challenging.
The original Philz Coffee location in San Francisco's Mission District is closing its doors after 20 years in business. The company made the decision not to renew its lease and current employees were offered positions at other San Francisco locations.
Bally's is buying out former President Donald Trump's lease to operate Trump Golf Links at Ferry Point in the Bronx, following a legal battle with the City of New York after the January 6 insurrection. The terms of the multimillion-dollar deal were not disclosed, but the New York City Parks Department expressed support for the transfer and expects Bally's to provide a high-quality golfing experience. Trump's name will be removed from the golf course, which will be renamed. This deal is similar to the one Trump made with Hilton to buy him out of his lease for the old Post Office in Washington, D.C.
Amazon is facing legal battles with landlords over properties where it planned to open Amazon Fresh grocery stores. One such lawsuit involves a lease in Long Island, New York, where Amazon is being sued by Salisbury Partners for $37 million, including unpaid rent. Amazon has canceled or paused some Fresh stores as it reevaluates its grocery strategy. The company has also faced lawsuits from landlords in New Jersey, Philadelphia, and Seattle. Despite setbacks, Amazon still sees potential in the grocery sector but is seeking a mass grocery format that is worth expanding broadly.
Chicago White Sox owner Jerry Reinsdorf is reportedly considering moving the team from Guaranteed Rate Field when their lease expires. The team issued a statement acknowledging that discussions about their lease situation should begin to take place, likely involving the city, ISFA, and the state. This comes after the Sox were close to moving to Florida in 1988 before a tax-subsidized new Comiskey Park was approved.