FORT WAYNE, Ind. (WOWO): The Allen County Fort Wayne Capital Improvement Board (CIB) plans to close on their purchase of the “fast food block” near the Grand Wayne Center in January.
The Journal Gazette reports the CIB would become the landlord of the three restaurants next to Jefferson Boulevard–Rally’s, King Gyros and Taco Bell– once the $6 million purchase is completed.
RELATED: CIB to buy “fast food block” next to Grand Wayne Center
However, board members have maintained the sale does not mean the restaurants will be torn down any time soon.
CIB officials say rent will be 4.8 percent of the purchase price on a triple-net lease, where the tenant will pay real estate taxes, building insurance, maintenance, rent and utilities.
