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Norfolk Stores and Retail and Resturants


vdogg

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  • 4 weeks later...

Market at Harbor Heights space for sale?

Wtf? Am I reading this correctly? It seems like the whole space is up for lease. This doesn't sound good.

Nope, Vdogg -- what they are selling is the space The Market is occupying -- read it carefully, the nineteen years remaining on the lease conveys. It is purely a ROI deal -- pay this much, for this much annual income stream, on a triple net basis. Kinda like getting a CD, except that if the bank defaults, the FDIC pays you. If Farm Fresh defaults, oh well.
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Nope, Vdogg -- what they are selling is the space The Market is occupying -- read it carefully, the nineteen years remaining on the lease conveys. It is purely a ROI deal -- pay this much, for this much annual income stream, on a triple net basis. Kinda like getting a CD, except that if the bank defaults, the FDIC pays you. If Farm Fresh defaults, oh well.

Phew! Ok. The way they worded the article it seemed to be impying that HH was struggling and therefore the Market space was up for sale. This seems to make a lot more sense though because as far as I knew the Market was doing fine. Thanks for the clarification. :thumbsup:

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This seems to make a lot more sense though because as far as I knew the Market was doing fine.
Maybe not. While their lunch business is better than expected, what I hear is that the Market is only at 30% of their pro forma revenue numbers, over all.

And are you shocked that the VP would leave the impression that some business here was failing, when it wasn't? :ermm:

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  • 3 weeks later...

Fixed link: 2 Story Harris Teeter

One of the best points of this article is that the old store will be completely torn down, and a store built from scratch. In doing so they'll open up towards Colonial Ave, rather than having it's back to it, as is the case now. The current layout makes Colonial Ave feel very closed in for this stretch; in opening it, will go better with the feel of the neighborhood. This is a win win!

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One of the best points of this article is that the old store will be completely torn down, and a store built from scratch. In doing so they'll open up towards Colonial Ave, rather than having it's back to it, as is the case now.

It will also allow them to keep the current store open while the new one is under construction. This is great news for the Ghent neighborhood. When I lived there, it was a drag that our HT had half the number of items of the suburban stores. I wonder if the remodeling/expansion of the former GW store had anything to do with this.

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It will also allow them to keep the current store open while the new one is under construction. This is great news for the Ghent neighborhood. When I lived there, it was a drag that our HT had half the number of items of the suburban stores. I wonder if the remodeling/expansion of the former GW store had anything to do with this.

It would be nice if they could put some street level retail along Colonial that backs up the the store...

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Wow, one thing I have always liked about HT in Ghent is that it is small, easy to navigate and has just about everything needed. I loathe the ginormous HT in Chesapeake because it is so unmanageable. And with them tearing the old one down, it will open up the whole huge PARKING LOT onto Colonial, YAY!!! I just LOVE looking at suburban strip mall looking projects that seems to keep popping up in Ghent. Pretty soon it will look just like VB. YES!

From the sounds of this, I do hope there is something to keep the lot from being the focal point driving up Colonial. And also, the old folk's tower next to HT has a sky garden or something. Oh well, easy come, easy go.

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  • 2 weeks later...

That's true....I'm also excited about the Wal-Mart Neighboorhood Market that will open sometime this year off of Little Creek Road. It is where Winn-Dixie used to be located. So that will be 3 Wal-Marts in Norfolk...2 supercenters and one market.

Of course Tel had to reply for them to add a walmart. :rolleyes: Not sure why he said Suffolk since there are 2 in Norfolk. :huh:
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That's true....I'm also excited about the Wal-Mart Neighboorhood Market that will open sometime this year off of Little Creek Road. It is where Winn-Dixie used to be located. So that will be 3 Wal-Marts in Norfolk...2 supercenters and one market.

Have they done any work on that site? Last time I was in that area if town it was still up for lease.

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Have they done any work on that site? Last time I was in that area if town it was still up for lease.

So far they just gutted out the building. They have the area fenced so you can obviously tell that work is in progress. They haven't worked anything with the exterior as of yet. I heard it was supposed to be open in October but it seems like that will be postponed IMO.

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Of course Tel had to reply for them to add a walmart. :rolleyes: Not sure why he said Suffolk since there are 2 in Norfolk. :huh:

:lol:

poke poke poke em!

Pilot is moderating my comments again. They are an odd bunch. Sure I get to "I told you so" about the economy and real estate, but hey, I've earned that right by trying to encourage them to write real articles instead of participating in fanning the fire. But I think the comment that got me shoved on moderation was referring to the Jhag building, which was a tounge in cheek poke at the hag Precision Bearings building that was assimilated into the JFCOM facility. Every building is a J .. J7, J9, etc. For a long time the building still carried the hag logo, so people called it Jhag. Some people are just can't have fun.

Also, I think there is a bit of a racist thing with walmart. You can go to the suffolk walmart, and there is staff and the store is nice and everything. But if you go to the Military Circle walmart, there is hardly anyone at the checkout lines even though there are tons of customers.

I think I'm going to bring the issue up with Wal*Mart, and get them to staff the Military Highway location better.

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Just to change the subject, I've noticed reading the Charlotte forum that their downtown (uptown as they call it) doesn't have much retail or any grocery store. MacArthur Center alone has much more than four times the s.f. of all that in uotown Charlotte ( they don't even have a major dept. store uptown), and something like The Market as well doesn't exist there. They are clammoring for more, but I think it's interesting that Norfolk already has what they want (in those two categories anyway). Now, office space and pro sports facilities are alltogether another subject...

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