But it appears something new will be joining this central shopping area in Hayes Valley as early as this summer.
Here are the details on the space:
-Inclosed rear patio
-Enormous windows along Hayes & Laguna
-Storage and back office
-Available August 1, 2012
This prime spot is going for $8200 and will be under a Modified Gross lease.
For those unfamiliar with the term (like we were until last night), it means “a type of real estate rental agreement where the tenant pays base rent at the inception of the lease but in subsequent years pays the base plus a proportional share of some of the other costs associated with the property, such as property taxes, utilities, insurance and maintenance” (Investopedia).
Along with jazz era restaurant/bar Noir taking over Frjtz’s old space a few doors down at 581 Hayes, this part of the block will have a quite a different feel by the end of the summer.