Quote:
Originally Posted by allovertown
I don't know, the article paints it that way, but I see little evidence in that regard.
Retail is struggling everywhere but Walnut seems to be doing just fine. There are closures, but overall it seems the balance has been on the upswing.
It seems a considerable part of this has less to do with Walnut St and more to do with Underarmor itself. As per the article:
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Eh. When an Eternity Fashion opens... and a Michael Kors closes...it's not great.
Some vacancies have been there for years now. Rent needs to drop. It's strange b/c Walnut has consistently more foot traffic than i've ever seen...
I've said this before on other threads, but I think there's a bit of market uncertainty with the Fashion District. New retailers who may be circling our market are in a holding pattern until they see how the Fashion District comes together. FD offers more of a build-to-suit, brand new space with far cheaper rents than Walnut (older, costly retrofit, way more expensive rent).
Once the dust settles - and assuming FD doesn't suck - i think Walnut and FD can complement each other nicely. It may really depend on how an individual brand sees itself - which determines which street they open up shop on. A lot of wait and see.