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The Promenade At Chenal


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The problem is NWA is so close to Tulsa and Springfield/Branson. It's draw area isn't nearly as large as LR/NLR, which is well over a million. People in Russellville, Pine Bluff, Hot Springs, etc generally have to drive to LR to get anything past limited offerings. People outside the NWA MSA generally have something else closer.

Now, I think that Promenade at Chenal is in the most affluent area of the state, the problem is that is fairly remote. It's surrounded by $500,000+ homes in every direction but it's also surrounded by trees. Well, forests. It has limited access, it has to be at least 5 miles from the I-630/430 interchange. That makes it a different animal than Pinnacle Promenade.

Pinnacle is the regional mall for Benton Co. It has some upscale offerings like PF Chang's and Pottery Barn and some lower-tier offerings like Payless and JC Penney. In general, it has everything the market can support but it's essentially a full-service mall.

The intent with Promenade at Chenal is to be a smaller suburban shopping center geared to the affluent in a limited area with several specialty stores. The scale will be quite a bit smaller than Pinnacle and even if it grows some it'll be half the size at best of Pinnacle. The focus of LR retail will remain on the major retail centers in the metro - Midtown and McCain, and the development of other more visible centers along I-430.

Great observations Apork. One correction: Pinnacle Hills does not currently have Pottery Barn (but perhaps its been announced?).

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Great observations Apork. One correction: Pinnacle Hills does not currently have Pottery Barn (but perhaps its been announced?).

Yes Pinnacle Promenade is getting Pottery Barn as well. I also heard rumor of Crate and Barrel coming in as well. General Growth, the developer of the Promenade, has recently bought two huge tracts of land next to the mall. One is for Target and 6 restaurants. The other is suppose to be to expand the mall for more retail stores and restaurants. That might mean we get more upscale retail, such as Jcrew, Apple, Cheesecake Factory, Macys??? I just have to think that Macys is coming somewhere in NWA really soon. So many people from the Northeast that live in NWA now are used to shopping at a Macys. I think that Pinnacle Promenade will eventually be a Superregional mall for NWA, Tulsa, SW Missouri, East Oklahoma, Ft Smith, and Joplin. We definitely have enough people in the region to have upscale stores in the mall. Plus, you have to think about the thousands of business travelers that come to Bentonville every week to see Walmart. Hotels are going up like crazy, including a recently announced 4 star Marriott Hotel in Johnson (I can't believe there out of all places). Plus the Westin and a new concept called the "W Aloft" hotel that is super trendy. I am excited to see what pans out.

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Yes Pinnacle Promenade is getting Pottery Barn as well. I also heard rumor of Crate and Barrel coming in as well. General Growth, the developer of the Promenade, has recently bought two huge tracts of land next to the mall. One is for Target and 6 restaurants. The other is suppose to be to expand the mall for more retail stores and restaurants. That might mean we get more upscale retail, such as Jcrew, Apple, Cheesecake Factory, Macys??? I just have to think that Macys is coming somewhere in NWA really soon. So many people from the Northeast that live in NWA now are used to shopping at a Macys. I think that Pinnacle Promenade will eventually be a Superregional mall for NWA, Tulsa, SW Missouri, East Oklahoma, Ft Smith, and Joplin. We definitely have enough people in the region to have upscale stores in the mall. Plus, you have to think about the thousands of business travelers that come to Bentonville every week to see Walmart. Hotels are going up like crazy, including a recently announced 4 star Marriott Hotel in Johnson (I can't believe there out of all places). Plus the Westin and a new concept called the "W Aloft" hotel that is super trendy. I am excited to see what pans out.

If NWA has enough people to support upscale retail, restaraunts, and hotels, then Little Rock more than does. It doesn't make sense for those that invest in NWA to ignore Little Rock. Hopefully Park Avenue will have some gravity and will be able to get something done that these other developments have not been able to do. I am still hoping for something like a 4 star Marriott at Park Avenue instead of a Hampton Inn or something generic like that.

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If NWA has enough people to support upscale retail, restaraunts, and hotels, then Little Rock more than does. It doesn't make sense for those that invest in NWA to ignore Little Rock. Hopefully Park Avenue will have some gravity and will be able to get something done that these other developments have not been able to do. I am still hoping for something like a 4 star Marriott at Park Avenue instead of a Hampton Inn or something generic like that.

bchris02 - I agree in general with your observations, but remember that its more than just population alone. Though NWA's population is much less than LR, you have to consider per capita income and the income level of the growth. No matter how you slice it, a sizable portion of Little Rock's MSA is a low-income, marginalized section of the population. This is no different than most ANY significant metropolitan area - some more than others. But note that NWA is very, very unusual in this regard. Its portion of low-income population is relatively small, and getting smaller as much of the growth is from relatively high income professionals.

But again, I'll reiterate that the main driver or differential between the retail scene in NWA and LR has less to do with population and income as it does the presence of one main development by a major national player versus numerous smaller developments with (some) local developers.

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Updated list with Lids added.

J Crew

Apple

Bebe

Victoria's Secret

Coldwater Creek

Dickinson Theater/IMAX

Chili's

Portrait Innovations

Ann Taylor Loft

Journeys

Finish Line

American Eagle

Lids

Add Limited Too and Select Comfort. Wow.

OK, I'm going to say it. Does anyone else think this is a LAME center? Not nearly as impressive as the location should dictate. Take out Apple (unique, but a very limited appeal) and this center looks just like every other C minus shopping center. Where's Claire's Boutique, Regis Salon and Sbarro? Very dissapointing so far.

Edited by 84Hog
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Add Limited Too and Select Comfort. Wow.

OK, I'm going to say it. Does anyone else think this is a LAME center? Not nearly as impressive as the location should dictate. Take out Apple (unique, but a very limited appeal) and this center looks just like every other C minus shopping center. Where's Claire's Boutique, Regis Salon and Sbarro? Very dissapointing so far.

You're right, this line up is weak. Surely some bigger names will show up, and I mean those not in the market.

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Add Limited Too and Select Comfort. Wow.

OK, I'm going to say it. Does anyone else think this is a LAME center? Not nearly as impressive as the location should dictate. Take out Apple (unique, but a very limited appeal) and this center looks just like every other C minus shopping center. Where's Claire's Boutique, Regis Salon and Sbarro? Very dissapointing so far.

Well I wouldn't call it a C- shopping center, more like a B or B-. I am really excited about Apple and the IMAX. I hope the rumor is true that Abuelos is opening there. There are 39 or so tenants supposed to go in at open, so hopefully we see some improvement. Do you think Park Avenue may be stealing tenants?

Now Shackleford Crossing is a true C-. That center is becoming so sad and is a tremendous waste of a very great location.

Edited by bchris02
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Add Limited Too and Select Comfort. Wow.

OK, I'm going to say it. Does anyone else think this is a LAME center? Not nearly as impressive as the location should dictate. Take out Apple (unique, but a very limited appeal) and this center looks just like every other C minus shopping center. Where's Claire's Boutique, Regis Salon and Sbarro? Very dissapointing so far.

I think we'll see some nicer tenants fill this out, but truthfully, what were you expecting? Apple and J Crew are top-notch and are new to the market - the others are similar to Park Plaza - again, turning into the "second" location for many of the nicer national retailers. I would hope/expect to see both GAP and Banana Republic. Remember, only ONE GAP currently in Central Arkansas - that won't last long. Surely a book store will land here - hopefully Borders (Promenade and Park Avenue....Lord knows they'd be far enough apart).

About Apple. Limited appeal? Apple's retail stores are a HUGE hit, and its estimated that they are the highest grossing sales/SF retail outlet in the U.S. And lest you think its just a store, think again. They're hot spots. A place to hang out...to see and be seen. This store will have more traffic than ANY other outlet in Promenade, save for the IMAX theater.

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Add Limited Too and Select Comfort. Wow.

OK, I'm going to say it. Does anyone else think this is a LAME center? Not nearly as impressive as the location should dictate. Take out Apple (unique, but a very limited appeal) and this center looks just like every other C minus shopping center. Where's Claire's Boutique, Regis Salon and Sbarro? Very dissapointing so far.

You may have missed the post that was a little after the one you referenced that included those two retailers. Here is what we know of so far that is coming to the Promenade. Hopefully Architect is right and that there will be announcements of more retailers and restaurants that aren't in the market coming to the Promenade. Apple, J Crew and the IMAX are good starts, but there needs to be more than just second locations or stores at Park Plaza and Midtowne. Think about stores like Coach, DSW, Nine West, Sephora and Border's that are located at Pinnacle Hills Pomenade, but are not in the LR market. Are they holding out for Park Avenue? Who knows.

JCrew

Apple

Bebe

Victoria's Secret

Coldwater Creek

Dickinson Theater/IMAX

Chili's

Portrait Innovations

Ann Taylor Loft

Journeys shoes

Finish Line

American Eagle

Lids

Select Comfort mattresses

Kay Jewlers

Bath and Body Works

Limited Too

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About Apple. Limited appeal? Apple's retail stores are a HUGE hit, and its estimated that they are the highest grossing sales/SF retail outlet in the U.S. And lest you think its just a store, think again. They're hot spots. A place to hang out...to see and be seen. This store will have more traffic than ANY other outlet in Promenade, save for the IMAX theater.

HUH??? If an Apple store has become a place to be seen, then my disillusionment with the American populace is certainly well founded. Or is this just the Steve Jobs party line???

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HUH??? If an Apple store has become a place to be seen, then my disillusionment with the American populace is certainly well founded. Or is this just the Steve Jobs party line???

It is in certain circles. It may not be a place YOU would go to be seen or hang out, but there are many who think differently about it. Apple, unlike Microsoft, has become a very trendy fad.

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Another thing that would be nice to have in the LR market is an Elephant Bar restaurant.

http://www.elephantbar.com/

They just opened in Tulsa and Albuquerque so smaller markets are on their radar. Either the Promenade or Park Avenue would make a good location for a restaurant like this.

Looks like they haven't made it this far east yet. They hadn't made it to Texas yet so I had never heard of them. Have you been to one?

I think we'll see some nicer tenants fill this out, but truthfully, what were you expecting? Apple and J Crew are top-notch and are new to the market - the others are similar to Park Plaza - again, turning into the "second" location for many of the nicer national retailers. I would hope/expect to see both GAP and Banana Republic. Remember, only ONE GAP currently in Central Arkansas - that won't last long. Surely a book store will land here - hopefully Borders (Promenade and Park Avenue....Lord knows they'd be far enough apart).

About Apple. Limited appeal? Apple's retail stores are a HUGE hit, and its estimated that they are the highest grossing sales/SF retail outlet in the U.S. And lest you think its just a store, think again. They're hot spots. A place to hang out...to see and be seen. This store will have more traffic than ANY other outlet in Promenade, save for the IMAX theater.

I agree, right now Apple stores are one of a handful of specialty stores that kind of define a development as "high end". They are considered "trendy" right now.

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I really am suprised the Promenade thus far is not getting a department store of some sort, be it Dillard's, Macy's, or whatever. A decent anchor would give this center some gravity, and if it was successful it would spur even more development in the area.

Why exactly did Dillard's pull out anyways?

Edited by bchris02
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I don't really understand your post. I merely stated a widely recognized fact about Apple stores.

I fail to understand what could be so trendy and cool about an Apple store as to make it a place to see and be seen... It seems like this widely recognized "fact" is as much Apple advertising as anything. I've never been to one so I'm admittedly making a judgement with no data in hand on gut instinct alone. These stores may be GREAT for Apple but it's still a tech store no matter how it's decorated or what type of lighting they use and people will go to shop and browse gadgets and software. The "new" will wear off of this just like everything else. It may also be a GREAT draw for the Promenade throughout it's entire lifetime but a hipster hangout, naw, don't see it happening. JMO...

My quick and short reply was really an apparently poor attempt at humor: If an Apple store is the new cool trendy spot to hang out then my faith in the human race sinks to a new low or some such :P:p

Edited by Stormcrow
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I fail to understand what could be so trendy and cool about an Apple store as to make it a place to see and be seen... It seems like this widely recognized "fact" is as much Apple advertising as anything. I've never been to one so I'm admittedly making a judgement with no data in hand on gut instinct alone. These stores may be GREAT for Apple but it's still a tech store no matter how it's decorated or what type of lighting they use and people will go to shop and browse gadgets and software. The "new" will wear off of this just like everything else. It may also be a GREAT draw for the Promenade throughout it's entire lifetime but a hipster hangout, naw, don't see it happening. JMO...

My quick and short reply was really an apparently poor attempt at humor: If an Apple store is the new cool trendy spot to hang out then my faith in the human race sinks to a new low or some such :P:p

I was just stating that Apple stores are popular, trendy and bring lots of traffic. I can't really say if they're necessarily a place to see or be seen....who knows. I think it will be great for Little Rock and the Promenade.

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I fail to understand what could be so trendy and cool about an Apple store as to make it a place to see and be seen... It seems like this widely recognized "fact" is as much Apple advertising as anything. I've never been to one so I'm admittedly making a judgement with no data in hand on gut instinct alone. These stores may be GREAT for Apple but it's still a tech store no matter how it's decorated or what type of lighting they use and people will go to shop and browse gadgets and software. The "new" will wear off of this just like everything else. It may also be a GREAT draw for the Promenade throughout it's entire lifetime but a hipster hangout, naw, don't see it happening. JMO...

My quick and short reply was really an apparently poor attempt at humor: If an Apple store is the new cool trendy spot to hang out then my faith in the human race sinks to a new low or some such :P:p

Apple, like I said before, is not like Microsoft. Apple enthusiasts are considered hip while Microsoft enthusiasts are considered nerds. You shouldn't pass judgement if you have never been to an Apple store.

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I really am suprised the Promenade thus far is not getting a department store of some sort, be it Dillard's, Macy's, or whatever. A decent anchor would give this center some gravity, and if it was successful it would spur even more development in the area.

Why exactly did Dillard's pull out anyways?

A lot of developments like this these days are built without true anchors. Southlake Town Square in suburban DFW was THE lifestyle center of the last decade and it lacked an anchor but it had just about every store and restaurant one could ever want and sprawls for blocks.

Anchors aren't what they used to be.

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A lot of developments like this these days are built without true anchors. Southlake Town Square in suburban DFW was THE lifestyle center of the last decade and it lacked an anchor but it had just about every store and restaurant one could ever want and sprawls for blocks.

Anchors aren't what they used to be.

I agree totally with this comment. Having said that, as hopeful as we are about Promenade, I don't think any of us think that Promenade will end up like Southlake....there just isn't the footprint. But, having an "anchor" isn't the big deal, it's simply having desirable tenants for shopping, eating, entertainment...nothing more, nothing less.

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I agree totally with this comment. Having said that, as hopeful as we are about Promenade, I don't think any of us think that Promenade will end up like Southlake....there just isn't the footprint. But, having an "anchor" isn't the big deal, it's simply having desirable tenants for shopping, eating, entertainment...nothing more, nothing less.

I would agree with this perspective in concept. However, I think the point others are making is that relating to this particular development in Little Rock, an "anchor" would have a tremendous impact on the traffic it would draw, particularly were it a NEW department store offering, such as Macy's. Again, I think in this case, it would help increase regional traffic to an otherwise "local" neighborhood development.

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I agree totally with this comment. Having said that, as hopeful as we are about Promenade, I don't think any of us think that Promenade will end up like Southlake....there just isn't the footprint. But, having an "anchor" isn't the big deal, it's simply having desirable tenants for shopping, eating, entertainment...nothing more, nothing less.

Oh, I agree - it won't end up 1/4 as large and can't bring in the high profile tenants that community can.

I'm just saying that development is the case and point about anchors. It works better without one.

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