"Sharing the same fate is another longtime establishment. Quaint, unpretentious Mexican restaurant Casa Isabel is closing April 2. The 31-year-old family-run business at 2434 Park Blvd. is one of Palo Alto's oldest restaurants. "Our landlord has refused to renew our lease," owner Mayra Lopez wrote in a letter to customers. "I left El Salvador in 1974 because ... I wanted to live in peace. I knew that in America if I worked hard I could make a better life for my family. ... Many of you have become like family to me. I have seen your families grow, have seen you have children and those children have children. All of you are dear to me and I will miss you very much," she wrote."
Posted by landlord would not renew the lease?, a resident of the Midtown neighborhood, on Apr 30, 2010 at 5:23 pm
What kind of games are Palo Alto landlords playing? There have been several cases like this where well established Palo Alto merchants had to go out of business because the landlord would not renew their lease. There seem to be plenty of vacant buildings around town. Why are landlords kicking out profitable tenants?
Posted by Anon, a resident of Another Palo Alto neighborhood, on Apr 30, 2010 at 6:54 pm
Chris writes: "Wouldn't you guess that after that many years the rent was well below market?"
Possibly, but, with rents declining and with the ongoing commercial real estate bust, "market" isn't what it was three years ago. If the building is rented right away for a lot more, I will stand corrected, but, if it sits there empty like so many others have ...