apparently the rent is cheap (per article)
Yeah that's his trick.
Lures you in with cheap rent, and tells you it's his policy he only signs a 12 month lease at a time, but don't worry you've got nothing to worry about, because he hates to lose tenants, and he really cares about your business, yada, yada, yada. Then (big shocker) he quadruples it at the renewal, knowing you've just spend a fortune on the build-out and aren't in a position to say no.
I know two people off the top of my head who've had this happen to them in the last 6 months.