More retail coming to Congress Avenue.
From the Austin American-Statesman
http://www.statesman.com/business/co...1josabank.html
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Jos. A. Bank coming to Congress Avenue
Men's clothing chain is second national retailer, after Patagonia, to announce plans for the area.
By Shonda Novak
AMERICAN-STATESMAN STAFF
Thursday, May 01, 2008
Men's clothing retailer Jos. A. Bank Clothiers Inc. plans to open a store on Congress Avenue in downtown Austin, the second national retailer, after Patagonia, to announce a location this month along the historical street.
Jos. A. Bank expects to open its 4,000-square-foot store in June on the ground floor of the Koppel Building at 322 Congress Ave., said Craig Holmes, chairman of Hospital Housekeeping Systems. Ltd., an Austin-based hospital-service provider that owns the building. The store will be in the space vacated by Volitant Gallery, which lost its lease last fall, said Holmes, whose company occupies the second floor and part of the first floor.
Founded in 1905, publicly traded Jos. A. Bank has more than 400 stores nationwide that sell midpriced men's tailored and casual clothing, accessories and footwear.
Jos. A. Bank has three other Austin-area locations, in the Arboretum at Great Hills shopping center; the Village at Westlake in West Lake Hills; and in the Hill Country Galleria in Bee Cave.
The Downtown Austin Alliance, a coalition of business and property owners, has been working to recruit a broader mix of retailers downtown, where clubs and restaurants predominate. Although in its heyday Congress Avenue had a thriving retail scene with department stores and other shops, many of those storefronts over the years have been replaced by banks, offices, bars and restaurants.
Not counting bars and eateries, Congress Avenue today is home to 12 retailers from the Capitol to Cesar Chavez Street.
Three weeks ago, outdoors-apparel retailer Patagonia said it will open a 7,000-square-foot store in the historic W.B. Smith Building at 316 Congress Ave.
"With that recent announcement, and the continued success of other Congress Avenue retailers, we clearly see that a quality mix of retail offerings is gaining momentum," said Molly Alexander, associate director of the Downtown Austin Alliance.
Holmes said the deal came about when the Dallas broker for Jos. A. Banks picked up Holmes' advertised listing for the vacancy.
Although Holmes found the tenant on his own, he said the alliance gave him advice in negotiating a lease with a national retailer.
"I don't know that we would have been able to make this deal without their help," Holmes said.
Jos. A. Banks will be located a couple of blocks south of another men's apparel store, Keepers Clothing at 515 Congress Ave., an upscale specialty men's clothier.
Chuck Haidet, managing partner of locally owned Keepers, said he welcomes the new store, although he noted that the stores cater to different niches.
"I'm tickled to death they're coming," Haidet said. "The more retailers we can attract to Congress Avenue, the more viable a shopping area it becomes. There's a synergy to it, and it helps us attract more business."
Since opening in November 2005, Keepers has seen double-digit sales increases in 2006 and 2007, Haidet said.
And although the residential population is increasing downtown, "the majority of our traffic is business travelers," both locals and out-of-towners, he said.
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