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Old Posted Feb 21, 2015, 10:48 PM
Jjs5056 Jjs5056 is offline
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Join Date: Jul 2011
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Check out this article. It seems to back up a lot of what I am trying to say.
https://www.djc.com/news/re/12024308.html

It seems many of Phoenix's retail failures can be attributed to missing the mark on several of his points.
1. Building retail near other retail - Skyline, Summit
2. Building retail for retail - I've continuously heard that Tapestry's spaces are just not conducive to restaurant uses, and let's face it, downtown isn't grabbing any clothing retailers let alone Midtown
3. Market retail from day one - I wouldn't be surprised to see Union's retail fill up as even I have noticed their marketing for the commercial component; meanwhile, this clearly wasn't a priority for places like Summit and 44Monroe where they were so focused on selling units in the recession
4. Set realistic rates/TI improvements - I've heard the TI allowances are another major issue with both Roosevelt Point and Tapestry, and it's clear that the prices of many of these spaces is just simply too high for the market
5. Pick your tenants - this ties into #3; landlords need to be actively seeking and building relationships with potential tenants... I don't see that happening

Another thing I mentioned re: Skyline, but wanted to expand on is the importance of parking. We all hate how Phoenix is so auto-dominated, but it's reality, and no retailer is going to want to open in a space where there is no immediate parking. That's why the side streets are better fits for a lot of these small businesses, where streetside parking is abundant. For Skyline, you're expecting customers to find you at an intersection of 3 parking lots, and then be motivated enough to visit your establishment that they're willing to seek out parking or park in the Skyline garage. That just isn't a reasonable expectation, and is another reason why the removal of parallel parking along Roosevelt is a huge disaster.
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