Introduction of Ordinance to Approve
Lease for a Retail Space at the Historic
Alameda Theater (2315 Central
Avenue) with Shear Terror, (dba It’ll
Do) a California LLC
October 1, 2024
Retail Space at Alameda Theater
Natel Energy
• Designed by the renowned theater architect,
Timothy L. Pflueger
• In 2006, the City undertook a major theater
restoration project
• The Theater building has always included a
variety of axillary uses in the retail suites
along Central Avenue
• This particular suite was most recently
occupied by a wine shop, which closed
earlier this year
The Historic Alameda Theater opened in 1932,
in an Art Deco style
Leased Premises
3 • The leased space is separate from the Theater with
its entrance from the public street
• Includes approximately 700 SF & a single-stall, all-
gender restroom
• Lease premises do not include any designated
parking areas or exterior uses
• The business will need to apply for all required
permits for proposed interior improvements
• No exterior improvements contemplated beyond
inserting signage in the existing fixture
It’ll Do – Barber Shop
4 It’ll Do, is a local barber shop, has been in business in Alameda since 2019 and specializes in precision haircuts, beard trims and shaves. • Fills a vacancy in a key location with a unique
business that has a proven track record and has
built a strong local customer base that will follow
them to the new space
• The shop will have an eclectic style with a mix
retro furnishing & modern color schemes
• It’ll Do offers haircuts and dry beard trims
• Plan to add back straight razor shave & wet beard
trim services to their menu next year
• Current hours of operation are Tuesday - Saturday
from 10 am to 7 pm, with two chairs but plan to
expand in the new space
Use: Warehouse, beverage distribution, food grade equipment leasing, maintenance and repair, beverage bottling, and retail fountain bar
Premises: Interior space plus non-exclusive vehicular access and parking & exterior yard area Term: twenty-five (25) months to be coterminous with adjacent leases.
Rent: $14,198 per month w/ 3% increase in year 2.
Tenant pays share of all services, utilities and taxes (including possessory interest taxes) As-is condition, no-rent credits
Lease Terms
Months
Monthly
Rent
Annual
Rent
1-15 $1,645 $19,740
16-27 $1,702.58 $20,431
28-39 $1,762.17 $21,146
40-51 $1,823.84 $21,886
52-63 $1,887.68 $22,652
Total over 65 months = $105,855
• Use: Barber shop, including retail sales of hair and grooming products • Premises: 700 SF of interior space, no exterior use
• Term: 63-month initial term (5 years + 3 mos.), & one (1) 5-year renewal option • Monthly Rent: $1,645 or $2.35 PSF w/ annual 4% increases • Tenant pays their proportional share of utilities, fees, taxes, etc. • Includes a rent concession equal to 3-months’ rent ($4,935) as the business reestablishes in the new location
• The proposed lease is consistent with the Economic
Development Strategic Plan & strategy to revitalize vacant storefronts
• Hold Public Hearing, and
• Approve introduction of ordinance approving lease with Shear Terror, dba It’ll Do a California LLC
Recommendation