The Earl of Sandwich, a national sandwich shop based in Florida, will lease Boston’s Pink Palace structure in Boston Common.

The city hopes that this 15-year lease will help revitalize the Boston Common, according to a statement. A portion of revenues from the business will contribute to the upkeep of Boston Common.

"This is a great opportunity to transform a unique unused space into an active business, while contributing to the vitality of the Boston Common," said Toni Pollak, commissioner of Boston Parks Department. "This project will allow us to preserve a historic building while also bringing new life to the park for all visitors to enjoy."

The Pink Palace, a 660-square-foot structure, was built in the 1920s as a men’s restroom facility, according to a statement. The historic structure has been vacant for decades.

The Earl of Sandwich is scheduled to open in late 2011 or early 2012.