Former Nebraska football player and current defensive tackle for the Miami Dolphins Ndamukong Suh plans on opening a Nike store near campus.
The University of Nebraska board of regents approved a $1.25 million agreement with Suh’s company, TFL Development LLC, last Friday. The agreement would give Suh’s company 17,000 to 19,000 square feet of the building at 13 and Q St. That’s a third of the building that used to be the Nebraska Bookstore, which was bought out by the university for $4.75 million last June.
TFL Development LLC agreed to pay a monthly fee of $1,000 over the span of 20 years along with the initial $1.25 million purchase.
Bob Phares, chairman of the University of Nebraska board of regents, said that now that Suh’s proposal is approved, the next step will be for president Hank Bounds to negotiate and approve the final contract. …show more content…
“The next step now will be for the president and our legal council to work with Suh's company and their attorney to put the final contracts together and have that acceptable to everyone and then there'll be a closing date.”
When searching for buyers for the space, the university asked for a “nationally or globally visible retail store,” one that would “would complement Downtown Lincoln’s continuing development and whose merchandise will be attractive to University students.”
One other offer was made for the space. Tetrad Property Group, run by former Husker football player Zack Wiegert, proposed a CVS Pharmacy in the building. Phares said that the board thought that a Nike store would be more suited for the university.
“We didn't really think that really fit with what we wanted at the south side of the campus in that area,” he said. “Originally, in the request for proposals we had indicated that our preference would be for a retail clothing type
The University of Nebraska board of regents approved a $1.25 million agreement with Suh’s company, TFL Development LLC, last Friday. The agreement would give Suh’s company 17,000 to 19,000 square feet of the building at 13 and Q St. That’s a third of the building that used to be the Nebraska Bookstore, which was bought out by the university for $4.75 million last June.
TFL Development LLC agreed to pay a monthly fee of $1,000 over the span of 20 years along with the initial $1.25 million purchase.
Bob Phares, chairman of the University of Nebraska board of regents, said that now that Suh’s proposal is approved, the next step will be for president Hank Bounds to negotiate and approve the final contract. …show more content…
“The next step now will be for the president and our legal council to work with Suh's company and their attorney to put the final contracts together and have that acceptable to everyone and then there'll be a closing date.”
When searching for buyers for the space, the university asked for a “nationally or globally visible retail store,” one that would “would complement Downtown Lincoln’s continuing development and whose merchandise will be attractive to University students.”
One other offer was made for the space. Tetrad Property Group, run by former Husker football player Zack Wiegert, proposed a CVS Pharmacy in the building. Phares said that the board thought that a Nike store would be more suited for the university.
“We didn't really think that really fit with what we wanted at the south side of the campus in that area,” he said. “Originally, in the request for proposals we had indicated that our preference would be for a retail clothing type