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Norfolk Stores and Retail and Resturants

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Interesting article in today's business section of PilotOnline regarding the performance of Norfolk's Nordstrom. It is only doing one-third (1/3) of the national average on a per sq ft basis.

http://hamptonroads.com/2013/10/cause-worry-norfolk-nordstrom

 

It looks like the city has put them in a position where they would want to keep sales below 40 million a year.  That and we have the whole average wage + high cost of living thing going on around here which is why you don't see a lot of those other popular high end national retailers.  For comparison our metro has one Wholefoods versus 3 or 4 in the Raleigh metro which has a smaller population.

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I don't think the rent due above 40M threshold amounts to any more than 1.5% of sales. So, I feel certain that they'd prefer to do 50M and pocket the 98.5% of those additional millions than a measly 25M less 200k in rent.

Makes me wonder whether the store should've been located in Virginia Beach, proximate to the true wealth center. You mentioned Whole Woods. Look where they located themselves.

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I don't beleive having it in va Beach would change anything; they lost their Lord and Taylor in record time at their best mall. I think if Nordstrom would upgrade their entire collection and let the public know, it would peform better. I know many people who shop at Nordstrom in other cities because they don't carry the same merchandise here. They should give it a try.

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Yes, Lynnhaven lost Lord & Taylor in a matter of five or six years, but it was part of a nationwide mass closing around 30 stores. Also, I would not exactly call that retrofit over at Lynnhaven Mall a first class build-out, nor would I consider the tenant mix there to be on level with MacArthur Center. MacArthur Center retail is higher-end, more unique to the market. And the mall, itself, is much more luxe, modern and attractive.

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Both Paradise Donuts (Granby St.) and O's Donuts (21'st Street) are open.  Haven't checked either out yet but looking forward to it.  Both places are open 6am-3pm daily.

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Norfolk has a Piggly Wiggly...it's the former BeLo on Princess Anne Road+Azalea Garden.

 

http://hamptonroads.com/2013/11/piggly-wiggly-returns-region-norfolk-store

 

I rode past it last week and had to do a double-take. One because that was the last remaining BeLo on this side and two because I had only heard of those being in the deep South.

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I'm not sure why you think Hampton Roads is bigger when the Raleigh-Durham CSA has reached 2,000,000 and is adding nearly 100,000 people a year. Unless I am wrong (and I can't find the CSA number on census.gov), HR is at 1,700,000 and adding very little. You don't get to decide that one statistic matters and one doesn't. We mustn't split hairs to make one area inferior to another. CSA's are essentially metro areas that have grown as one. People try to use CSA when it makes for bragging rights and MSA when they want to belittle someone. CSA's are the true extent of a city's influence. Raleigh is also much wealthier. It has one of the highest educated populations in the country and RTP gives it one of the highest incomes.

Edited by modernurbanity

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I'm not sure why you think Hampton Roads is bigger when the Raleigh-Durham CSA has reached 2,000,000 and is adding nearly 100,000 people a year. Unless I am wrong (and I can't find the CSA number on census.gov), HR is at 1,700,000 and adding very little. You don't get to decide that one statistic matters and one doesn't. We mustn't split hairs to make one area inferior to another. CSA's are essentially metro areas that have grown as one. People try to use CSA when it makes for bragging rights and MSA when they want to belittle someone. CSA's are the true extent of a city's influence. Raleigh is also much wealthier. It has one of the highest educated populations in the country and RTP gives it one of the highest incomes.

Took me a while to see the post you were referring to, I honestly don't see where the belittling came in. As a general rule we do not allow city vs. city arguments to continue on the forum, as they never end well. If you feel there is an error in a particular statistic understand that it was more than likely an honest error and not an attempt to elevate one city over another. Let's try to keep this discussion civil and on topic please.

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I'm not sure why you think Hampton Roads is bigger when the Raleigh-Durham CSA has reached 2,000,000 and is adding nearly 100,000 people a year. Unless I am wrong (and I can't find the CSA number on census.gov), HR is at 1,700,000 and adding very little. You don't get to decide that one statistic matters and one doesn't. We mustn't split hairs to make one area inferior to another. CSA's are essentially metro areas that have grown as one. People try to use CSA when it makes for bragging rights and MSA when they want to belittle someone. CSA's are the true extent of a city's influence. Raleigh is also much wealthier. It has one of the highest educated populations in the country and RTP gives it one of the highest incomes.

 

I don't know much about CSA's as I don't believe Hampton Roads is part of one.  I agree that Raleigh is wealthier with a slightly lower cost of living and a slightly higher wage which is a reason for the higher end retail opportunities.  It just seems that a lot of these retailers come to the Hampton Roads market 5-7 years after they enter other similar sized markets, and I'm not even referring to high end retailers.  Chipotle is relatively new to our market, Noodle and Co is just starting to open a couple locations.  We didn't have Trader Joe's until 2009 and Wholefoods until this year.  Are we just off the radar or are we that poor?

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I don't know much about CSA's as I don't believe Hampton Roads is part of one.  I agree that Raleigh is wealthier with a slightly lower cost of living and a slightly higher wage which is a reason for the higher end retail opportunities.  It just seems that a lot of these retailers come to the Hampton Roads market 5-7 years after they enter other similar sized markets, and I'm not even referring to high end retailers.  Chipotle is relatively new to our market, Noodle and Co is just starting to open a couple locations.  We didn't have Trader Joe's until 2009 and Wholefoods until this year.  Are we just off the radar or are we that poor?

Meanwhile, we got Nordstrom's and Lord & Taylor in 1999...the former when MacArthur Center opened. 

 

Seems to me the cost-of-living didn't skyrocket here until the housing bubble in the mid-2000s. Unfortunately, the rents/mortgages stayed higher than average while civilian salaries remained stagnant.

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Went to O's donuts.  It was delicious.  Peanut butter glazed.  Need I say more.

 

 

Agreed! They're made right in front of you and aren't overpriced either.  I had peanut butter glazed with oreo chunks....mmm.

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The Jewish Mother (which serves as the Restaurant for the Norva) has closed it's doors.  My assumption is that the Norva must maintain a restaurant at that location in order to offset liquor sales from the venue as they have already announced a new tenant shall be in place within 10 days.  It's a great building with awesome aesthetics but I don't know what it will take to keep something active.  Downtown is a tough restaurant market with a lot of competition and inconsistent foot traffic.

 

Not sure if it was mentioned but a new Wine and Beer shop is opening on Granby Street near A Latte Cafe.  It's a very small shop but maybe it'll do well with all the new apartment units coming on line.

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I think the Jewish Mother location would be a great spot for a Hard Rock Cafe.... but it will never happen.

Nor big enough if they only size like their other locations.

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Yeah I tried finding out more but all I heard was that they're not doing anything to the spot renovation-wise and it'll be the same theme of food…burgers, sandwiches, etc.  The folks I spoke to don't believe it has a very good chance of surviving.

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The Monticello Chick-fil-A is well underway but oddly enough it is not listed on the official website as coming soon:

 

http://www.chick-fil-a.com/Locations/Openings

 

I was mostly curious as to an opening date but I guess we'll wait and see. I personally don't think it'll take more than a couple of months.

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