Coastside Gourmet Coffee’s lease offer rejected by landlord

Raman Bechar’s offer of $2 per square foot for a five-year lease on his space has been rejected by his landlord, reports Julia Scott in the County Times. At last week’s Half Moon Bay City Council meeting, landlord Mike Shami said he was putting his negotiations with Peet’s on hold so that Bechar could submit an offer. Shami wants $3 plus capital improvements.

"I knew that whatever I said would not be acceptable, because what he wants is for Peet’s to come in," added Bechar. He said he would be willing to make a second offer of $2.25 per square foot by Thursday along with some upgrades that could involve replacing some ceiling tiles, sinks, tables and chairs — but nothing as elaborate as the $175,000 that Peet’s already committed to revamp the entire space.

The article quotes Half Moon Bay commercial real estate broker Dave Worden as saying that Bechar could get a better deal somewhere else.