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urbanvb

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More apparent updates on the Divaris website. Note: the block 9 plan with retail named ...that which has yet to be named publicly to my knowledge....

Now I'm wondering whether this is poaching 2 original major tenants  from MacArthur Center? Or are the two companies adding additional locations in this market.  I have a feeling....

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True. Williams Sonoma has been at La Promenade at Hilltop for at least 20 years or so. If you count Williamsburg, we currently have three locations. 

As for Pottery Barn, I have my doubts  because we have lost quite a few furniture stores around here over the years (Z gallerie, Restoration Hardware, North Carolina Company, EQ3, etc.), though we've gained West Elm.   Three of those in parentheses where once located at MacArthur Center. 

Also, the 20 year leases  for Pottery Barn and WS will be up in March of 2019. Just so happens this Block 9 retail should come online summer of 2018.  Oh, and there have been many rumors swirling around downtown of an impending exodus of several original,  unique-to-market stores at MacArthur at or before the end of their 20 year lease.  Including those two, and Nordstrom.

Edited by baobabs727
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On 10/23/2017 at 11:30 PM, baobabs727 said:

True. Williams Sonoma has been at La Promenade at Hilltop for at least 20 years or so. If you count Williamsburg, we currently have three locations. 

As for Pottery Barn, I have my doubts  because we have lost quite a few furniture stores around here over the years (Z gallerie, Restoration Hardware, North Carolina Company, EQ3, etc.), though we've gained West Elm.   Three of those in parentheses where once located at MacArthur Center. 

Also, the 20 year leases  for Pottery Barn and WS will be up in March of 2019. Just so happens this Block 9 retail should come online summer of 2018.  Oh, and there have been many rumors swirling around downtown of an impending exodus of several original,  unique-to-market stores at MacArthur at or before the end of their 20 year lease.  Including those two, and Nordstrom.

That is a shame if it is true for MacArthur Center, I remember when it was built, it was seen as a gamble to reinvest in downtown Norfolk. If that mall fails now, I can only imagine what kind of setback that would be for Norfolk. Personally I think building a continuous mall was a mistake, they should have built several mall buildings connected by skywalks and kept some sort of street grid with street side retail included.

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7 hours ago, urbanlife said:

That is a shame if it is true for MacArthur Center, I remember when it was built, it was seen as a gamble to reinvest in downtown Norfolk. If that mall fails now, I can only imagine what kind of setback that would be for Norfolk. Personally I think building a continuous mall was a mistake, they should have built several mall buildings connected by skywalks and kept some sort of street grid with street side retail included.

I wondered in the Norfolk thread about this whether they could open it up sort of like how Richmond's Short Pump Town Center is. I know the parking garages make that a bit of a challenge, but I bet it COULD be done. Now whether it can be done in a cost effective manner is another question all together.

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Well, if true, this is great for Virginia Beach Town Center. The TC continues to grow and to flourish,  attracting  highly sought after retailers that are unique to the region. And remember, this is not a phenomenon unique to this area.  Poaching, that is. Often times, retail and office areas are built and then  tenemts migrate to that area.  Then those areas age or other ones are built perhaps in a more prosperous area of town, and so there is another migration  as new developments surpass the older ones. And then  maybe 10 to 20 years later, sometimes the cycle eventually reverts back to the original development area ( which by that time has likely been redeveloped and reinvented) ,  or subsequent population and income growth is such that multiple locations can then be supported. 

Edited by baobabs727
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2 hours ago, Virginia City said:

They turned Coliseum Mall into a Short Pump like mall and they demoed every part of it but the Macy's and now the Macy's is currently a pile of concrete.  I think an extended-stay hotel is going in the spot but that is Hampton in a nutshell.

True. But that was a full demolition/rebuild. I was thinking of essentially taking the current footprint and building elements but opening it up to make accessible. It wouldn't be quite is "open" as Short Pump, but they may still be able to put a bit of a more pedestrian friendly element to it.

As for VBTC, it does seem to be poaching a lot of MacArthur's retail and I do think that their locations will probably be closing soon (including Nordstrom which hasn't relocated but there's a "Rack" location). It's good to see TC beginning to thrive. I just hope it doesn't fully kill MA in the process.

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I believe C&B was rumored to be going in the Gateway Tower in block 2 which was axed a few years ago. Hopefully they will reconsider when that block is developed. I feel they would be a good fit as well. It's amazing to consider TC proper will be built out with block 2. Block 1 is the Taco Bell and so far they've been holding out but I feel it's really just a matter of time. 

Edited by urbanvb
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Here's the full article.

http://vabeachtowncenter.com/two-national-retailers-coming-to-town-center-of-virginia-beach/

“We look forward to increasing our presence in Virginia Beach in the spring of 2018,” said Bud Cope, Executive Vice-President of Real Estate and Development of Williams-Sonoma, Inc. “Our West Elm store has been serving customers in Town Center since 2014 and we feel those who enjoy the quality of our products will be pleased to have the opportunity to visit both our Williams Sonoma and Pottery Barn stores while shopping in one of the prime destinations in the region.”

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Very Nice!

On another note  related to the interconnected world of regional retail,  and specifically re: Virginia Beach Town Center and MacArthur Center,  a very reliable contact of mine told me that one of the Nordstrom brothers and a few members of the Norfolk City Council toured the MacArthur Center store recently.  Not exactly sure what they were doing there.  There are a couple of rumors, but I'm not going to repeat them because I have no idea if they're true. But one thing I do know is that there hasn't been a dedicated shoe salesperson in men's shoes for over six months. I know this by multiple personal visits, and it has also been confirmed by an employee. Very odd for any department store, much less a Nordstrom.  Shoes have always been their specialty. 

Edited by baobabs727
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