Birmingham Retail Development

[DavidH74]

I would be extremely surprised if Saks is still operating at The Summit this time next year. That store has already been reported (by Saks in statements) as a very poor performer -- one of the third worst in the chain. Furthermore, it is very easy to tell just how poorly it must be doing by going in. No Saks I've seen has less inventory. No Saks I've seen has fewer customers. It has also been reported that Saks, troubled as a whole, will divest of its smaller stores -- I believe they are called "market stores".

It will be a shame to see, but I more than fear it is more than highly inevitable. The next round of Saks closings (last was several years ago (and there will be another), The Summit location will not make the cut.

That is clearly highly visible and coveted space at The Summit. I wonder what would happen to that space WHEN (not even if, seriously, at this point) Saks shutters there.

Relocated Gus Mayer? Crate & Barrel? Would Nordstrom be interested in that space (could add a level, maybe) in lieu of The Galleria? They have only a letter of intent with General Growth - not a binding contract.

Discuss.

[kayman]

Well, for one the store to my knowledge wasn't a full-line Saks anyways because most other locales had a much broader selection, so Saks half-assed with this store to be in the Summit. Also I do believe it make just wind up with Crate & Barrel in space if it shutters because the talks between GGP and them have stalled, but they are still actively pursuing a locale here. Although Nordstrom has just signed a letter of intent, I doubt they will change their mind on location because if they were going to the Summit they would have jumped at it when Phase III was being developed because Bayer would have most likely accommodate their wishes and made more space for a large space for a location.

[| BRAVO |]

^^^ I agree... Someone will jump on that space if it opens. I have no doubt.

I'm much more interested in seeing what lands at Habert Plaza downtown.

[kayman]

^^^ I agree... Someone will jump on that space if it opens. I have no doubt.

I'm much more interested in seeing what lands at Habert Plaza downtown.

Oh, I heard the one of levels of the former Belk/Parisian will be a restaurant, but the othe level is still to be announced.

[kayman]

Encouraging news on some area shopping centers to open even with the upsetting economy:

• The Grove, a SuperTarget-anchored center in Hoover at AL 150 and I-459, should be complete this fall. The center has commitments or is in negotiations with Lowe's, Kohl's, Best Buy, Books-A-Million, Hibbett Sports, Petco, Dress Barn, Maurice's, Shoe Carnival, Dots and Fontera Mexican Grill. Smaller portions of the center and stand-alone sites are slated to have Compass Bank, Superior Bank, Chick-fil-A, McDonald's, Burger King, Beef O'Brady's, Mattress Firm, Diamond Nails, Massage Envy and a salon.
  
• The final phase of The Summit will include 50,000 sq ft of retail space along with 50,000 sq ft of office space when it is complete in late summer or early fall.
  
• A center with three restaurants and a separate strip center are being built with stand-alone locations of a CVS Pharmacy, Legacy Credit Union and Alabama Telco Credit Union at the Chace Lake community on US 31 in Hoover.
  
• Nordstrom is still targeted for a spring 2012 opening.
  

More info here: Store bankruptcies, closings may wreak havoc in economy

I am excited, especially about Nordstroms not changing their date, and The Summit still pressing forward on it's new expansion. I guess the money-makers are still going to be doing (upscale) luxury shopping in the area. Now I just wonder what's coming to The Summit.

Well, the thing that I'm inquiring about is whether or not the new Target store to open in the Grove is going to be an actual SuperTarget or just another Target with grocery section without a full bakery, meat, deli, and seafood counter? I know that the last SuperTarget was opened in 2004 at the Tutwiler Farms in Trussville.

[TRoberts]

Well, the thing that I'm inquiring about is whether or not the new Target store to open in the Grove is going to be an actual SuperTarget or just another Target with grocery section without a full bakery, meat, deli, and seafood counter? I know that the last SuperTarget was opened in 2004 at the Tutwiler Farms in Trussville.

Kimco Developers is listing the Target location at over 191,000 sq. ft. which clearly puts it in the size range of a SuperTarget. Regular Target stores with the small food sections generally run 110,000 to 130,000 sq. ft. (the Target at Tannehill is 127,000). It's also clearly marked on the marketing information for The Grove that it is a SuperTarget.

[kayman]

Kimco Developers is listing the Target location at over 191,000 sq. ft. which clearly puts it in the size range of a SuperTarget. Regular Target stores with the small food sections generally run 110,000 to 130,000 sq. ft. (the Target at Tannehill is 127,000). It's also clearly marked on the marketing information for The Grove that it is a SuperTarget.

Wow, that is excellent! I'm glad to see that Target is back to opening SuperTargets in the region. Now if we could only get Colonial Properties would finally decide what they will do with the redevelopment of the Brookwood Convenience Center. I'm hoping that Target would consider that locale if it is still in the mode to open a store in the core of the region.

[TRoberts]

Wow, that is excellent! I'm glad to see that Target is back to opening SuperTargets in the region. Now if we could only get Colonial Properties would finally decide what they will do with the redevelopment of the Brookwood Convenience Center. I'm hoping that Target would consider that locale if it is still in the mode to open a store in the core of the region.

That would be nice but I can't see it happening... With the rumored (although possibly cancelled now) Westin to go on the other end of the shopping center and Colonial's desire to move the center slightly more upscale, I don't see Target being a good fit. Plus a "regular" Target is in the neighborhood of 130k sq. ft. which would probably be pushing it for that site. I'm not sure what the existing building encompass however.

Since leasing seems to have done so well with that office tower, I honestly would expect to see another office tower on site with ground level retail and restaurants. Another parking garage as well would compliment the site and allow for more of the existing parking to be used up. I'd like to see another "street-scape" retail created like what is in front of Brookwood. They could create another entrance promenade type setting as you come across the bridge at Applebee's. Have Applebee's frame one corner and another new restaurant frame the other with some shops and whatnot leading back to the existing office tower and a new one.

Another option... Would be Brookwood taking some of the land for further development. They are slowly growing to the point they have no more land and I'm sure they are looking toward the future themselves. Personally, it makes more sense to put the rumored hotel on the end with Brookwood and build some type of connection to the two so that Brookwood could take advantage of having a hotel connected to the hospital.

[bhamsly]

That would be nice but I can't see it happening... With the rumored (although possibly cancelled now) Westin to go on the other end of the shopping center and Colonial's desire to move the center slightly more upscale, I don't see Target being a good fit. Plus a "regular" Target is in the neighborhood of 130k sq. ft. which would probably be pushing it for that site. I'm not sure what the existing building encompass however.

Since leasing seems to have done so well with that office tower, I honestly would expect to see another office tower on site with ground level retail and restaurants. Another parking garage as well would compliment the site and allow for more of the existing parking to be used up. I'd like to see another "street-scape" retail created like what is in front of Brookwood. They could create another entrance promenade type setting as you come across the bridge at Applebee's. Have Applebee's frame one corner and another new restaurant frame the other with some shops and whatnot leading back to the existing office tower and a new one.

Another option... Would be Brookwood taking some of the land for further development. They are slowly growing to the point they have no more land and I'm sure they are looking toward the future themselves. Personally, it makes more sense to put the rumored hotel on the end with Brookwood and build some type of connection to the two so that Brookwood could take advantage of having a hotel connected to the hospital.

I can also see Brookwood taking advantage of the space where Brunos was, and makinging it mixed-use. Perhaps, a small "street-scape" portion with perhaps 10 stores and restaurants anchored by something like Trader Joe's(something that many would enjoy), and a tower with office and hotel space. It don't think that it would have to be next to Macy's or close to the mall because the mall is holding it's own right now...this will add to the malls other end.

[Southron]

Whole Foods plans to open a second Birmingham area store in Hoover as part of the redevelopment of Riverchase Village at the corner of US 31 and AL 150. The new Whole Foods Market will be in the former Bruno's location.

 

This new store is part of a major expansion by Whole Foods in Alabama. Three other new stores are being built in Mobile, Montgomery and Huntsville.

 

Whole Foods to open second Birmingham area store in Hoover