CHARLOTTE, N.C. — Some local businesses are continuing to struggle with soaring rent prices and getting priced out.
Central Coffee Co. recently announced that after more than five years they will be closing their location on Camden Road in South End.
Louisa and Jimmy Kleto say they opened their South End location in 2016, in hopes of becoming the neighborhood coffee shop when they saw the area developing.
"South End, there was more of an opportunity of growth in the long run," Louisa Kleto said.
But now, that growth isn't working in their favor. They say the landlord wanted to raise their rent by almost 40%, citing market rate.
“Our jaws hit the floor, "Jimmy Kleto said. “I hate that the neighborhood is losing a place like this ... of course were sad because it's our business but we really feel for our neighbors."
They're just one of several local businesses closing their doors in South End, like Price's Chicken Coop and Jack's Hamburgers.
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“It kind of takes away a lot of the environment, the vibe, the ambiance of Charlotte is kind of is moving towards bigger companies and chains and you just lose out on a lot," Louisa Kleto said.
Bocado Bar & Diner, which replaced the old Big Ben Pub at South End’s Atherton Mill just last summer, also recently announced their closure.
As prices rise dramatically in retail and residential space, small business owners wonder if there's room for them in Charlotte.
May 16 will be the last day for Central Coffee Co. in South End.
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The company will still have its shop in Plaza Midwood. The Plaza Midwood location is celebrating its 13th anniversary on the same day.
Both owners said they hope to open another shop when the time and price is right, especially after surviving through the pandemic, a labor shortage and the rise in products.
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