Retail Trends That May Affect Central Florida

[spenser1058]

Following in the footsteps of CVS, Walgreens ups the ante and announces 200 stores will be closed.

No word on locations yet.

https://www.cnbc.com/amp/2019/08/06/walgreens-to-close-200-stores-in-us.html

From CNBC 

Meanwhile, it seems a BurgerIM in midtown Atlanta abruptly closed its doors recently. Are we detecting a trend?

https://whatnowatlanta.com/burgerim-midtown-metropolis-closed/amp/

From What Now Atlanta 

Edited August 7, 2019 by spenser1058

[spenser1058]

More Sears closings - this round includes Vero Beach and Sebring:

https://amp.usatoday.com/amp/1940039001

From USA Today 

[spenser1058]

OMG! FINALLY, after all these years Le Tarjay can sell Red Tab Levi’s.

There is a Just and Fair God, at least for those of us who wear only 501’s.

https://www.marketwatch.com/amp/story/guid/83DBD372-3176-496D-A4EB-14F7C09A8996

From Market Watch

[spenser1058]

Target has been rebranding its private label brands and reducing some old faithful name brands lately and the results have generally been quite successful.

Now it’s the grocery side’s time to go in search of Target’s, ummmm, target market, millennial families

On the way out are Archer Farms and Simply Balanced (natural and organic)

On the way in with flashy new packaging: Good and Gather, with over 2000 options. The staple everyday brand, Market Pantry, will be reduced.

I know you all can’t wait to get your Avocado Toast Kit!

https://thetakeout.com/target-launching-new-grocery-line-good-gather-1837373076/amp

From The Takeout 

 

[spenser1058]

Everyone is flocking to Target based on latest quarterly earnings including Shipt (which Target owns and jgardner is apparently one of its favorite customers :-):

https://www.cnbc.com/amp/2019/08/21/target-reports-fiscal-2019-q2-earnings.html

From CNBC

Cheap Chic Rules!

Edited August 21, 2019 by spenser1058

[spenser1058]

A stat I hadn’t seen laid out before: the average small-format “college” Target is 17000sf or about 15% of the size of a regular Target.

https://www.chainstoreage.com/store-spaces/target-embraces-smaller-format-stores/

From Chain Store Age

[spenser1058]

A small-format Target proposed for college town Iowa City, ummm, Iowa:

https://www.kcrg.com/content/news/Downtown-Iowa-City-to-get-small-format-Target-558732101.html

From KCRG

Features a video of how the store could fit in the city’s downtown renovation.

[jgardnerucf]

The Gainesville one is nice.

[spenser1058]

The new Target “at Disney” announced recently along with the in-Target Disney stores will be going to Flamingo Crossing:

https://www.fool.com/amp/investing/2019/09/04/disneys-deal-with-target-is-much-ado-about-nothing.aspx

From The Motley Fool 

[spenser1058]

The Sears stores in Oviedo and Leesburg are now set to close later this year:

https://www.orlandosentinel.com/business/os-cfb-sears-closings-leesburg-oviedo-20190904-rg3simmzcbe7reejr56lalmj6u-story.html

From the Sentinel 

Hang in there, Florida Mall!

[spenser1058]

Old Navy, which is spinning off from its moribund parent GAP, has announced it will be opening 800 new stores over the next few years. Most will be away from malls.

If you were an energetic head of Orlando’s DDB or a rising young staffer under the Dome, well gosh you’d probably be lighting up every channel you could find to tout all the urban dwellers desperate for affordable retail.

Meanwhile, what have we heard from Go Slow Thomas, Mayor-for-Life Buddy and the rest of our burgeoning city staff?

*crickets*

But then, why should Now be any different?

https://amp.cnn.com/cnn/2019/09/12/business/old-navy-stores-gap-athleta/index.html

From CNN

Edited September 12, 2019 by spenser1058

[AmIReal]

31 minutes ago, spenser1058 said:

Meanwhile, what have we heard from Go Slow Thomas, Mayor-for-Life Buddy and the rest of our burgeoning city staff?

*crickets*

Have you been sitting in on their meetings...?

[spenser1058]

15 minutes ago, AmIReal said:

Have you been sitting in on their meetings...?

That excuse stopped being relevant oh, about a decade ago. There has been basically zero movement on retail and not a peep from anyone at City Hall. The thing is, they always move the goal posts but never establish solid plans. Instead, they do “wish lists” online and call that their plan.

Compared to cities like Austin and Greenville, SC that actually went out and got results, we’ have nothing.

If you have seen any sign of that changing since Publix and the theater in the mid aughts, please feel free to share. Show me one speech by Thomas Chatmon with an actual plan. Unless there was one written last week, it doesn’t exist.

Let’s not forget that this is an administration that spends an hour on all sorts of minutiae about the core at The State of Downtown speech.

Downtown also has more coverage (including OBJ’s incessant rumors) than any part of Central Florida except the tourist zone. If there were actual news, it would be all over the place.

Edited September 13, 2019 by spenser1058

[spenser1058]

8 minutes ago, spenser1058 said:

That excuse stopped being relevant oh, about a decade ago. There has been basically zero movement on retail and not a peep from anyone at City Hall. The thing is, they always move the goal posts but never establish solid plans. Instead, they do “wish lists” online and call that their plan.

Compared to cities like Austin and Greenville, SC that actually went out and got results, we’ have nothing.

If you have seen any sign of that changing since Publix and the theater in the mid aughts, please feel free to share. Show me one speech by Thomas Chatmon with an actual plan. Unless there was one written last week, it doesn’t exist.

Let’s not forget that this is an administration that spends an hour on all sorts of minutiae about the core at The State of Downtown speech annually.

Downtown also has more coverage (including OBJ’s incessant rumors) than any part of Central Florida except the tourist zone. If there were actual news, it would be all over the place.

 

[AmIReal]

4 minutes ago, spenser1058 said:

That excuse stopped being relevant oh, about a decade ago. There has been basically zero movement on retail and not a peep from anyone at City Hall. The thing is, they always move the goal posts but never establish solid plans. Instead, they do “wish lists” online and call that their plan.

Compared to cities like Austin and Greenville, SC that actually went out and got results, we’ have nothing.

If you have seen any sign of that changing since Publix and the theater in the mid aughts, please feel free to share. Show me one speech by Thomas Chatmon with an actual plan. Unless there was one written last week, it doesn’t exist.

I don't know, I think the excuse still works unless you have better info.

Austin no doubt has a leg up on about everyone in the country. Seriously, retail aside do you want to spend anytime in Greenville. I've been there recently and don't need to go back.

Retail is a moving target. You may want a place to buy you button downs and khakis, but do the other residents downtown need the same. I don't hear the people living downtown clamoring for retail. I've never hear anyone, other than on this forum say they need a hardware store in the CBD. 

As you often mention the need for organic growth, I would think retail will fill in when the downtown citizens quit spending their available funds on drinks... and not until then. Having been involved in attracting businesses to this area and others, I can assure you they will come when the clients are there to pay them.

[spenser1058]

19 minutes ago, AmIReal said:

I don't know, I think the excuse still works unless you have better info.

Austin no doubt has a leg up on about everyone in the country. Seriously, retail aside do you want to spend anytime in Greenville. I've been there recently and don't need to go back.

Retail is a moving target. You may want a place to buy you button downs and khakis, but do the other residents downtown need the same. I don't hear the people living downtown clamoring for retail. I've never hear anyone, other than on this forum say they need a hardware store in the CBD. 

As you often mention the need for organic growth, I would think retail will fill in when the downtown citizens quit spending their available funds on drinks... and not until then. Having been involved in attracting businesses to this area and others, I can assure you they will come when the clients are there to pay them.

Actually, my button downs and khakis come from LL Bean and have since the ‘80’s so I’m good. Perhaps because I live in an area of downtown with older condos and lots of restored ‘20’s houses, maybe that’s why I often hear people wish there was a hardware store handy instead of stopping in the middle of a project and having to drive to SoDo or Colonialtown (or Home Depot for the big box crowd). Your dismissal of Eola Heights, Thornton Park, Lake Lawsona and Lake Cherokee residents as having no interest in anything but drinking is perhaps inconsistent with their demographics. 

As for Greenville, it is generally considered one of the great success stories of smaller US cities. James Fallows of The Atlantic and his wife have written extensively about its resurgence. I’m also familiar with it as a good college friend of mine was from there and his dad was a prominent consultant. They have been able to successfully wed tech and manufacturing to build a successful economy. I confess it’s waaaay too Republican for my taste, but it’s been quite popular for the red state crowd.

https://www.theatlantic.com/projects/city-makers-american-futures/category/greenville-sc/

Edited September 13, 2019 by spenser1058

[AmIReal]

59 minutes ago, spenser1058 said:

Actually, my button downs and khakis come from LL Bean and have since the ‘80’s so I’m good. Perhaps because I live in an area of downtown with older condos and lots of restored ‘20’s houses, maybe that’s why I often hear people wish there was a hardware store handy instead of stopping in the middle of a project and having to drive to SoDo or Colonialtown (or Home Depot for the big box crowd). Your dismissal of Eola Heights, Thornton Park, Lake Lawsona and Lake Cherokee residents as having no interest in anything but drinking is perhaps inconsistent with their demographics. 

As for Greenville, it is generally considered one of the great success stories of smaller US cities. James Fallows of The Atlantic and his wife have written extensively about its resurgence. I’m also familiar with it as a good college friend of mine was from there and his dad was a prominent consultant. They have been able to successfully wed tech and manufacturing to build a successful economy. I confess it’s waaaay too Republican for my taste, but it’s been quite popular for the red state crowd.

https://www.theatlantic.com/projects/city-makers-american-futures/category/greenville-sc/

I live in the Lake Cherokee area- one of the areas you referred to... why would I want to drive downtown to buy my home repair items or why would I want a hardware store in my neighborhood. Heaven forbid I need to drive 2 miles to Ace to get what I need. But those neighborhoods are not in the CBD- which is where I assumed you thought we should entice national retail vendors.

Here's an interesting game to play with downtown properties- everyone on the forum can participate. Name a vacant 3,000 square feet building that needs retail in it and then state what sort of retail you would like to see  there. The Sentinel property is excluded since we don't know the plans for it. And the game gets even harder if you try to do this with Eola Heights and Thorton Park...

Bottom line, retail is swell. I guess someone gets out to shop for stuff although a stroll through the mall makes me think it is mostly visiting Brazilians. But if I were a Mayor or a Downtown Orlando Director I'm not sure I'd stake my beachhead on trying to attract stores that will have 15 staff members that are paid $9/ hour to sell $7 shirts made in Malaysia or wherever Old Navy gets their stuff.

Remember, any project- particularly national players- that go downtown will get some financial incentive to be there. Is putting that incentive in retail a good investment for the community? I'm more than open to having my views changed on this, but I haven't yet heard good arguments for it.

If someone wants to come along and force the issue and build a "mall-ish" type project than that would be great (for example on the Sentinel property). Meanwhile, retail can grow on its own without Buddy or the City getting involved. 

And again, I've spent time recently in Greenville... nice place to visit, but its not all that.

[popsiclebrandon]

12 minutes ago, AmIReal said:

Here's an interesting game to play with downtown properties- everyone on the forum can participate. Name a vacant 3,000 square feet building that needs retail in it and then state what sort of retail you would like to see  there. The Sentinel property is excluded since we don't know the plans for it. And the game gets even harder if you try to do this with Eola Heights and Thorton Park...

420 has 2800 sqft

The Woofgang spot will be vacant soon, not sure its size.

The Sevens has a ton of space

Same with Modera

520 will be bringing a lot of space

EO Inn

Old Fiat building project

55W Retail

Chase Plaza

Suntrust

 

Those off the top of my head. There is a lot of space. I don't know what sort of retail would work but there needs to be more than 1 clothing store downtown. Unfortunately I think the best hope is a small Target in the CV area.

[AmIReal]

10 hours ago, popsiclebrandon said:

420 has 2800 sqft

The Woofgang spot will be vacant soon, not sure its size.

The Sevens has a ton of space

Same with Modera

520 will be bringing a lot of space

EO Inn

Old Fiat building project

55W Retail

Chase Plaza

Suntrust

 

Those off the top of my head. There is a lot of space. I don't know what sort of retail would work but there needs to be more than 1 clothing store downtown. Unfortunately I think the best hope is a small Target in the CV area.

I agree there is space- add to that list the Exchange and the Empire on Central and several more- but then the question becomes at $2,000 to 4,000/ per 1000 square feet what type retail can/ will pay for it and should the City provide incentive for that to happen?

I think retail will fill in if a retailer sees the need and so why blame Mayor Dyer if that hasn't, or never will, happen?

[bqknight]

10 hours ago, popsiclebrandon said:

 

The Woofgang spot will be vacant soon, not sure its size.

 

Woofgang is closing? Sad. Not that I go there often but I liked having the chance too if I needed to. 

 

10 hours ago, popsiclebrandon said:

420 has 2800 sqft

Btw - they put a "directory" up in the garage and for the 2800 sqft space it says that it's occupied by "BYNX". I Googled and only sound some software company and the for lease sign is up. I wonder why they did that. A different parcel has "Coming Soon" next to it. 

[popsiclebrandon]

1 hour ago, AmIReal said:

I agree there is space- add to that list the Exchange and the Empire on Central and several more- but then the question becomes at $2,000 to 4,000/ per 1000 square feet what type retail can/ will pay for it and should the City provide incentive for that to happen?

I think retail will fill in if a retailer sees the need and so why blame Mayor Dyer if that hasn't, or never will, happen?

I've only been on the tenant side and never worked in government so any ideas I have are half-baked at best but I always thought the city should go building by building downtown and give a best, acceptable, and unacceptable use for them. Provide incentives for landlords that fill their spaces with best/acceptable uses. Its probably not feasible but without any sort of landlord incentives we're not going to see much different stuff going in. I also don't like corporate welfare on the whole (at least for large businesses that don't need it).

 

1 hour ago, bqknight said:

Woofgang is closing? Sad. Not that I go there often but I liked having the chance too if I needed to. 

 

Btw - they put a "directory" up in the garage and for the 2800 sqft space it says that it's occupied by "BYNX". I Googled and only sound some software company and the for lease sign is up. I wonder why they did that. A different parcel has "Coming Soon" next to it. 

Yeah someone told me the other day its closing soon. I thought it would do well there.

I forgot they did lease that space when I reached out a few months ago about a new project there.  I was told they took it all so I guess we will see. Office might be the best use at this point. They don't want to make leasing 520 the same slog.

[dcluley98]

14 hours ago, spenser1058 said:

If you have seen any sign of that changing since Publix and the theater in the mid aughts, please feel free to share.

Walgreens

Earth Fare

Edited September 13, 2019 by dcluley98

[spenser1058]

9 minutes ago, dcluley98 said:

Walgreens

Technically, you're right but since it doesn't have an actual pharmacy and limited hours I am loathe to include it. It was also disappointing but it was the lone exception after years of no progress. Also, given Walgreens deemphasis on front of house retail I'm not convinced it's a keeper.

[spenser1058]

If South Beach has room for a Target, surely there’s room for one in our downtown:

https://amp.miamiherald.com/news/business/real-estate-news/article184374188.html

From the Miami Herald 

[spenser1058]

The Jaxson remembers some grocery chains from the past. You’ll recognize some of them that had stores in Central Florida:

https://www.thejaxsonmag.com/article/eight-defunct-grocery-chains-you-remember-page-2/