Pick Up Stix, a San Clemente,CA based chain of fast casual Asian restaurants, has shuttered 26 stores in Northern California, Nevada, and Arizona as of January 15, 2008. Apparently there was no notice given to the local employees, according to the buzz on Elk Grove, CA based Elk Grove Online (requires registration).
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Commercial leases usually provide for rent increases, often in the form of a cost of living increase per the Consumer Price Index. Attorney David Durrett, through case study examples and citations, presents a compelling case against the CPU clause and suggest that pre-determined rent increases can save the landlord money and provide predictable base rent charges to the strip mall tenant.
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