We were unhappy about last week’s news that Katz’s deli has fallen on hard times. Amidst the recent bankruptcy, Austin’s Katz’s Deli is now certain to be moving. Our sources say the landlord wants them out, and the famous restaurant could vacate as soon as August.
According to the ABJ article, Katz said agreeing to his lease terms was his “biggest mistake.” DAB is being told that the current landlord is asking $42 per foot + ~$12NNN for approximately 6,000 square feet. It’s gotta be hard to make a living paying $27,000 per month in rent while selling sammiches in Austin, Texas!
The restaurant chain may be down, but not out. Even with the financial troubles, it is hard to imagine there isn’t a landlord out there that could benefit from the Katz’s brand cache. We’re eager to find out where they will be moving to.