Free Rent and Triple Net Leases for Dallas Restaurants Provide Some Relief During the Pandemic
Let's Read About Some Good News
BY Megan Ziots // 04.01.20Sylvan Thirty is giving its restaurant tenants free rent for three months. (Courtesy of Sylvan Thirty)
The restaurant industry has been hit hard by COVID-19. Some Dallas favorites have found some ways to bring hope and help to others and now, thankfully, some local restaurants are receiving some much needed relief in the form of free or reduced rent. Let’s dive into some of the good news we’ve heard over the past few weeks.
To support the local restaurant community, Sylvan Thirty is giving its restaurant tenants free rent for three months. So, for April, May, and June, these restaurants, which include Ten Ramen, Cibo Divino, Taco Deli, Juiceland, Shayna’s, Cooper’s, Banh Mi Station, Houndstooth and Whisk Crepes Café, can continue their good work of giving back without paying rent.
“We need to do the right thing,” said Sylvan Thirty developer Brent Jackson in a statement. “We want to relieve our tenants’ stress. We are their partners and want to see them through this unprecedented time. Doing this will have a long-term meaningful impact for all of our businesses.”
Another idea in the works to support Sylvan Thirty’s restaurants is a temporary farmers market where tenants would be able to sell their goods. Keep an eye on Sylvan Thirty’s Facebook page to stay updated.
Over in Lower Greenville, Madison Partners will be giving their restaurant and bar tenants a break on rent by allowing them to temporarily pay triple nets (as first reported by the Observer). Tenants such as Rapscallion and Veritas Wine Room will only be responsible for their real estate taxes, insurance, and maintenance fees during the month of April.
We got a chance to speak with Brooks Anderson, owner of Rapscallion and Veritas Wine Room in Lower Greenville (as well as Hillside Tavern in Lakewood and Boulevardier in Bishop Arts) about the news:
How did it feel to get the news about the rent relief?
When Madison Partners, our landlord at Rapscallion, reached out to their tenants, it made all of us feel appreciated and like we were part of a team. Considering all of the uncertainty, it was greatly appreciated.
How impactful do you think this move will be for your business?
It will be the difference between panic attacks and a decent night of sleep.
Is Rapscallion or Veritas Wine Room offering any pickup, delivery, or specials during this time?
Veritas Wine Room is open for retail sales. Nobody is allowed in the shop, so we take payment over the phone and walk the wine out to the customer’s car. We are trying to be safe as possible while providing our customers with what they need!
Is there anything else you would like people to know about the best way we can help our local restaurant industry right now?
Right now, people should contact their favorite spots and buy gift certificates. It will put a little cash in the business’ bank account, and then it will be redeemable when the businesses reopen.