AUSTIN (KXAN) - A longtime University of Texas campus favorite is moving out.
The Mr. Gatti's Pizza on MLK Boulevard will leave its location of 40 years on May 28.
A marquee outside the restaurant thanks customers and also simply explaines that "We lost our lease."
Gatti's management did not elaborate further other than to say an agreement with owners could not be worked out.
Jeremy Barta fundraiser
The pizza chain is taking advantage of the opportunity to offer kid pricing for everyone until the restaurant closes. The business will also hold an auction for all the memorabilia on the wall. Proceeds from the auction will go to the Jeremy Barta Memorial Account.
Barta was a manager at the Mr. Gatti's Pizza location killed in a recent Cap Metro Rail accident.
Nick Nelson with Keller Williams Commercial said that rent for businesses in the UT area are skyrocketing in much the same way as that of residential rent.
"When rents continue to increase, it is going to compound and impact businesses in general," he said.
In the West Campus area, there is plenty of open office space available inside mixed-use developments.
Customers spending their lunch breaks at Mr. Gatti's said managers were informing everyone of the move.
"We come here almost twice a week," said Jeffrey Romero. "We are going to miss it. Wish it could stay open."
A search through city of Austin open records showed a site plan under the name "Chick-Fil-A" for the building Mr. Gatti's is leaving.
Travis County District Attorney Rosemary Lehmberg heads to court this week as a defendant in a civil trial that could oust her from office.
Late Saturday night into early Sunday morning, a light band of freezing drizzle traversed the I-35 corridor eastward. With sub-freezing temperatures, even the light precipitation created major problems.
A 10-year-old was killed while standing outside a vehicle after the child's family was involved in a fender bender, DPS said.
Austin Police confirm they have located an 82-year-old women who went missing last night.
APD is responding to a 25 vehicle accident near the 5400 block of Ed Bluestein near Thurgood Ave.
A man is dead after being hit by several vehicles in the eastbound lane of Highway 71 Saturday night.