Entertainment

Lafayette’s entertainment venue, Nissis, closes its doors as coronavirus impacts move plans

LAFAYETTE Lafayettes Nissi’s Coffee House Inc., which operates under the name of Nissi’s Entertainment Venue & Event Center, planned to relocate after the rental conditions were changed. But, as with other Colorado event centers, the COVID-19 pandemic instead stopped all operations.

The restaurant and live event venue closed, laying off 17 employees on March 13, while Governor Jared Polis ordered the cancellation of events for 250 or more people.

Before federal, state and city responses to the coronavirus epidemic, the company decided not to renew its lease, which expires in May. The call was made after the owner, Marc Gitlin, was unable to reach a renewal agreement on the 2675 Northpark Drive site with the owner of Nissis. According to Gitlin, the rent could increase by 25%.

The 11,951 square foot building, where Nissis occupies the ground floor, was acquired by Kelby and Beth Zorgdrager under the AOA Bridgetown LLC entity in 2017 for $ 2.05 million, as previously reported by BizWest. Beth Zorgdrager explained that Nissis had a gross rent lease carried over from the previous owners. The Zorgdragers said they wanted to reformat into a triple net lease, where the tenant would absorb costs such as building insurance, property taxes and maintenance.

What has happened is that the price of our taxes has gone up, said Beth. So, the taxes were $ 21,000 on this building in 2016, which is very good for a gross rent structure. But taxes have reached $ 53,000 this year. In four years, taxes have more than doubled.

The building owners offered Gitlin a reduction in base rent, but they were unable to opt for a triple net structure.

Gitlin, who owned Nissis 11 years over 15 years, said that despite $ 100,000 of renovations, AOA would not budge. Just before closing the doors to Nissis due to the pandemic, Gitlin was considering an agreement in principle to move to another Lafayette location.

I was going to finish the last months of my lease, said Gitlin. You know, I booked all my best bands, I already had a few events booked, then this hit. Totally devastated all my plans.

Gitlin announced on Nissis’ website, Facebook page and local community pages on Tuesday that it was closed indefinitely but temporarily. He added that the outpouring of the online community demonstrates the value of the entertainment venue. The Facebook post alone contains over 100 comments from disappointed customers.

With the cancellation of the events and the closure of the restaurants, Gitlin anticipates a loss of $ 220,000 in gross revenue between the closure and the month of May. Several events that last until the fall are now canceled.

The expiration of the lease is doubled with money, as this means that Gitlin will not have to make any payments after May. We don’t know when or where Nissis will reopen.

So now I’m just stuck in this kind of limbo seeing where it all goes, said Gitlin.

2020 BizWest Media LLC

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