Unfortunately, all is not well here in the Secret Underground Lab. Dark times and big problems. It's a serious mess, threatening my ability to keep my shop here. And my whole future building Scroll Basses.
I don't want to go into all the details, but the quick summary is: We've had construction work going on here for two years, to fix all the building's many problems and add things to please the city. The construction has been badly mis-managed. The crews have demolished things all over the building, and then walked away and not rebuilt them. Things like doors, stairways, lights, walls, etc. Real safety issues. The whole building is a stinkin' mess inside and out. Meanwhile, we're almost full of paying Tenants. Who, like me, are trying to run businesses here. They just keep wrecking more stuff and never finishing anything.
It was particularly bad this year, and PLC, the management company, was losing managers. They wouldn't even answer my calls and e-mails. By August, it got to the point where some of the Tenants were threatening to stop paying rent until the building got cleaned up.
In September, PLC had a complete change of top management. They came down here and toured the building with the building's owners. And determined that it is an unacceptable stinkin' mess. Uh, yeah, we've been trying to tell you...They decided to re-evaluate and re-think the plans for the building, the vision, the market position, etc. Okay....And they got the owners to commit to dumping a bunch more money into the building to fix it up and make it nicer. Move it up in the market. Okay.....
Then they announced that, starting Oct 1st, all rents are doubled. Right now, while the building is still a wreck. You can imagine how well that went over. Turmoil and upheaval. Loud profanity. Dispair. About half the Tenants are moving out, some right now, some in a few months. Man of them have been friends for years. I've spent the last two weeks managing the hall traffic of box trucks and trailers. Helping my friends pull apart their shops and load up their machines. Sad times.
My own situation isn't settled, but I think I'm going to be able to stay here. They are saying that they really, really want me to stay here long term, and continue helping them to manage the building. And it's going to be so much nicer...Okay. I'm working on a deal with them to consolidate my leases into one single lease, for 5-10 years. I'll have about 4100 sq ft. The rent will be a good bit higher than I'm paying now, but not double.
It might work out well. Two years from now, the building could be clean and pretty and a nice place to have my shop. At a much higher rent. I'll have to work harder to break even. But there's a lot of risk in their plans. They may upscale the building and not be able to find any Tenants willing to pay that rent to be in...Fillmore.
But we haven't settled my deal yet, and they are being vague about the plans to fix up the basement. They are still in discussions about the "vision" for the building, and who they want as Tenants in the basement. And apparently there is disagreement between the 4 owners. They've asked me about the possibility of moving my shop across the hall, or maybe upstairs? Maybe and No. They are still thinking and planning and discussing it with the owners. They are saying that they are willing to sign a long term lease with me, so I will stay long term. But it hasn't been signed yet.
The future of the Secret Underground Lab is uncertain right now. I want to stay here. But I may be faced with the daunting task of finding another building and moving. And I'm not entirely sure I have the physical strength to do that. But there is a plan forming up, if I have to leave. Some of the other guys are active searching, and have located several buildings that would work for us, not far away, and reasonably priced. There is hope, if I do have to move. But I'm going to try to work a deal and stay here.