Closing next month. City of Sylvania owns the building, and is selling it. Slightly disappointing. Always sad when an original and locally owned place closes.
Comments ... #
Closes Feb 4. Building selling for $1.1 million
All they had to do was announce the chop house, and Treo closed. :(
Here we go...a new 3,000+ post thread is coming on the demise of downtown Sylvania. 😅
I'm disappointed. I really liked the restaurant, and I was hoping it would stay open even though the building was being sold.
I wonder what the investors other plan for the space is?
So how does this work legally when you rent a building for your business? Is it in the lease that you don't hold the building owner responsible if they sell the building? I just can't imagine pouring money into a business like a restaurant just to have it taken from you because the building owner sells. Do they have to provide sufficient warning? Pardon my ignorance on the subject, but I figure there's enough TT'ers here to - as they say on Reddit - ELI5.
From their FB page:
As you all have probably recently heard, from the recent articles in the newspaper, the Maplewood Marketplace Building in which Treo is located is in the process of being sold by the City to some private investors who have plans for the space in which Treo is operating. As you may not know, despite efforts over the past few years, Treo was unable to secure a long term lease with the City on agreeable terms so our lease has been on a month to month basis. Due to this recent announcement and recognizing that our ability to be able to continue operations would require a more stable lease arrangement, we had to make a difficult business decision. It is with much sadness that we now are announcing that effective Sunday, February 5, 2017 we will be permanently closing Treo Restaurant and the One2Lounge. Until then, the restaurant and bar will remain open during regular hours and be serving most of your favorites. Treo Gift Cards will be fully honored through the close of business on the 4thand we will be contacting those with events scheduled at Treo after this date to return any deposits received and assist in any way we can. We wanted to take this opportunity to sincerely thank our many loyal customers, musicians, artists, family, friends and especially our entire Treo Staff who have been part of the Treo Restaurant/One2Lounge experience over the last 8 years. All of our many local talented musicians and vocalists who have played at Treo over the years are invited to come in during this time and simply play and have fun! We hope you will stop in over the next several days so our team can personally thank you.
Diva, it's also risky to invest money and time into a building you don't own because when the lease expires the rent can be raised. It's disturbing seeing businesses that ultimately suffer due to their own success.
When you buy a building, you also buy a lease, which you are bound to legally uphold. However, you are not required to renew the lease whenever it is up.
A month-to-month lease is crazy, imo... especially when you've invested a lot of money in tenant improvements, etc. This is the risk that you run.
Yes, you have the ability to close down at anytime and not be liable on a long-term lease... but you run the risk of this exact scenario happening.
Yeah, month-to-months are typically done when there's next to no commitment/overhead involved. Somebody who can easily pick up and move at a moment's notice. For a restaurant, not so much.
And, worth noting, this place did quite a decent business. I'm really curious to hear what is going into the space. You would think the City of Sylvania would have tried to help them transition.
Wasn't there a restaurant in there before Treo? Or maybe it was just a name change. Nope, I was right:
Normal first term of a commercial lease like this would be anywhere from 5 to 20 years, with various renewal options (things like at option of tenant, extended length, firm rent calculations, etc.) as agreed at the time of the original lease. Last lease I did for a restaurant had an original term of 20 years, plus four 5-year renewal options for a total of 40 years. (It was a McDonalds so they seriously do their homework before putting a location in). If a lease has no renewal provisions, or if they are not exorcised, the lease will automatically flip to a month-to-month lease.
What ever terms Treo had with the city (which could even be the remainder of Trattoria's lease that Treo could have assumed when they bought Trattoria), made a short-term (5-8 year) stint viable for them or they (theoretically) would not have signed that short of a lease. At this point we don't know who owns the restaurant equipment - may be Sylvania if they put it in, in an effort to attract a restaurant, or it may be Treo which means they can take it with them. So the financial aspects might not be as bad as we think they are.
So, the guy who cuts my hair - and those in that profession seem to know all the scuttlebutt - said the rumor on the street is Brandon Fields, former Miami Dolphins player, bought the building and is planning to open a craft brewery.
However, my hair cutter thinks Brandon may have bought the former Comstock Furniture bldg on Monroe which, according to ARIES was sold last month.
Seems like all the rage - got a few extra million burning a hole in your pocket? Start a craft brewery!
Take this info for WIW - could very well be "someone said that someone said........."
Upside Brewing is already located at 5692 Main St, Treo is located at 5703 Main St. Seems awful close for a new brewery.
Yes, and Upside Brewery has like 15 seats in J&G pizza joint that are usually occupied with pizza eaters. Yes, a town the size of Sylvania, with its income base, is perfect for a serious craft brewery upgrade. Of course, the Toledo area is behind Cleveland, Columbus and Cincinnati for breweries but also Dayton and Akron and, well, you get the idea. There is plenty of room for more breweries, and sooner the better as far as I am concerned.
The Toledo area is doing pretty well in the brewery department. We're up to six breweries and we could certainly use a few more.
I'd also like to see the equivalent of a Hop Cat and a place with decent food that let you bring in your own beer. "Bottle shares" are a big thing and it would be cool if there was a place you could hang out with good food and you could share your home brew or hard to get beer with your friends.
I agree, but just in terms of raw numbers we are behind. HopCat, or something similar, is a great idea. Maybe something that features all Ohio beers. Forest View Lanes in Temperance alsways has 40+ beers on tap from around the state and several are often ones that aren't bottled from Founders and Bell's and other hard to get selections so it makes it worth it to stop by.
Plus, West Toledo is starving for a craft brewery.
West Toledo is undeserved for sure. Things are a lot better in the Southend for me. I love Forestview but it's bit too far for me to go and drink beer, many of which are 15+ABV very often.
the west side is "un-deserved" of a brewery ?! that is cold SG... 47 degree cold.