Need advice on Commercial Lease

[casey6062]

We leased a new commercial space in Sept 2003 for a five year contract. We closed our restaurant in November 2006 and subleased to a local restaurant for the remaining 2 years on the lease. He closed his doors on July 2007 and we now are stuck holding the bag for the remaining 9 months of rent. We are unable to pay the rent since we no longer have a business with cashflow. The rent is 10K a month. We have brought two tenants to the table one ready to sign and the second a Nasdaq traded company. Both deals never were made, and now the subtentant has broke his sublease and moved on. I need to know my options and how I can successfully get out of this obligation. I have been very proactive on communicating to the Landlord and before this had always paid on time with no problem.

 

[Cvillecpm]

Who broke the 2 deals? You, the landlord, the broker? If the landlord is being unreasonable, you have a shot at getting out of the remainder of your lease; however, if the tenant(s) backed out on their own, you are probably stuck.