Midtown Detroit is becoming increasingly popular, and with that comes higher rental prices.
Ms. Ruth's Catering at Hannan Café has been paying $1,750 a month to rent a 2,500-square-foot restaurant at 4750 Woodward Ave. Her lease expires Dec. 31.
But the future of the business is uncertain, reports Perry Farrell of the Detroit Free Press.
A For Lease sign is displayed by Stokas-Bieri Real Estate, and restaurant owner Ruth O'Quin says the rent could jump to $7,000, which she can't afford.
The landlord tells O'Quin, 67, and daughter Tammy Reed that it hopes to get $35 per square foot, the Freep reports. "We were devastated,'' says Reed.
Farrell writes:
Ms. Ruth's Catering is the latest downtown (and Midtown) Detroit business to get squeezed out in the midst of the city's resurgence.
Companies like Harry the Hatter and Angelina Italian Bistro have had to relocate or potentially partner with other businesses because of skyrocketing lease increases.
