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Space currently home to Brooklyn Pizzeria has been listed for lease by landlord HP Investors, a real estate investment firm with commercial properties throughout the west coast. The Core-Columbia restaurant, at 401 C Street, is still open for business, and its lease has not yet expired.
As with many restaurants across the city, country, and world, Brooklyn Pizza seems to be under financial strain amid the novel coronavirus pandemic, and might not be paying its rent, James Bolt of HP Investors hinted at in a prepared statement shared with What Now San Diego (WNSD) Wednesday.
“Covid-19 has had a tragic impact on small business owners and landlords,” Bolt said. “We have supported our tenants (including Brooklyn Pizzeria) throughout the past nine months through material rental abatements. We intend to continue doing so while this period of economic instability persists.”
Calls to Brooklyn Pizzeria Wednesday went unanswered and ownership did not respond to an email from WNSD seeking comment.
“Unfortunately we, as property owners, have not received support from our lenders nor from the costs required to address property management expenses,” Bolt said. “Our resources are limited and we continue to face financial loss and risk losing the property through foreclosure. While we are hopeful that Brooklyn Pizzeria will receive support and find its way through this period, we are fiduciarily obligated to protect our investor’s interests. It is not clear that Brooklyn Pizzeria has the ability to weather this storm and as such we must explore alternative options should Brooklyn Pizza not be able to reopen. Our intent is not to push this tenant, nor any other tenant, out from their lease.”
HP Investors has retained Flocke & Avoyer to lease the space which neighbors The Local, Resident Brewing, Coal Bros Taqueria, and Superfly Tattoo. It is adjacent to the 270-room US Grant Hotel and the planned mixed-use tower, The Theatre House, which will bring 336 units and 190 rooms to the area.