Jump to content

The Promenade At Chenal


Recommended Posts

Correction. I do know that Dave and Busters started in Little Rock and yes I could see Little Rock getting one. Dave and Busters is now headquartered in Dallas. I also believe NWA could support one as well. The difference in the money in Little Rock vs. NWA is that LR has a lot of older money (people 45+) compared to NWA (having an average age of 32-35). There are so many twenty and thirty year olds up here that want trendy restaurants, department stores, and bars that Nordstrom will have to come here soon. I know most of the commercial builders here in the area and they say that there are more retailers that come to look at opening in this area than in Little Rock due to the population growth and all the business travelers that come here every week. It just keeps on fueling the economy. One of my friends said that Crate & Barrel, Nordstrom, Cheesecake Factory, Macys, and many others are currently scoping the area and looking for site spots to open up.

It won't be too far down the road until it happens here. I just think with the downturn in the economy and the housing market going under that construction has slowed a lot. So it may be 2 years before something like that happens.

Cheesecake Factory looked at Pinnacle Hills and initially signed up but backed out. They will not build in NWA. Nordstrom's will enter larger markets like Tulsa, OKC, Memphis, Nashville and eventually LR before it hits NWA. It's several years away from that. Macy's is looking at both NWA and Little Rock for sites. I don't know if NWA will be feasible. I'm sure Dillard's has some kind of agreement in place to keep them out of Pinnacle Hills.

Link to comment
Share on other sites


  • 2 weeks later...

I drove by the development today, and was surprised at the progress and impressed with its apparent quality. Again, its weakness is its remote location and (again...like the others), its total lack of scale to propel it into something more significant than a neighborhood center. I hope it proves successful. Too bad they didn't locate a major retailer like Macy's.

Link to comment
Share on other sites

I drove by the development today, and was surprised at the progress and impressed with its apparent quality. Again, its weakness is its remote location and (again...like the others), its total lack of scale to propel it into something more significant than a neighborhood center. I hope it proves successful. Too bad they didn't locate a major retailer like Macy's.

This question probably belongs in another thread, but just how strong is the Dillard's stronghold in Arkansas and specifically central Arkansas?

Link to comment
Share on other sites

This question probably belongs in another thread, but just how strong is the Dillard's stronghold in Arkansas and specifically central Arkansas?

I think a lot of the problem was other department stores didn't have a development to locate to until the recently. Pleasant Ridge brought in Parisian (which is now one of the higher end Belks). Hopefully Park Avenue can pull in Macy's. Shackleford Crossing originally had Dunlaps in their plans until the company folded and some believe that a department store may eventually land at the Promenade Chenal.

For it to be headquartered in Little Rock, their presence is not that strong. There are four stores within a 50 mile radius of Little Rock (Park Plaza, McCain, Pine Bluff and Hot Springs). Maybe that's all the market can bear, I don't know. You would think that they would add another location in west Little Rock, but they will not be locating in the Promenade, so that second location may be a while coming.

Link to comment
Share on other sites

I think a lot of the problem was other department stores didn't have a development to locate to until the recently. Pleasant Ridge brought in Parisian (which is now one of the higher end Belks). Hopefully Park Avenue can pull in Macy's. Shackleford Crossing originally had Dunlaps in their plans until the company folded and some believe that a department store may eventually land at the Promenade Chenal.

For it to be headquartered in Little Rock, their presence is not that strong. There are four stores within a 50 mile radius of Little Rock (Park Plaza, McCain, Pine Bluff and Hot Springs). Maybe that's all the market can bear, I don't know. You would think that they would add another location in west Little Rock, but they will not be locating in the Promenade, so that second location may be a while coming.

There were recent reports of a southwest Little Rock Dillard's location at the "proposed" Gateway Towne Center (now referenced as Fountain Creek Towne Center) at the (infamous Otter Creek Mall) location of I-430/I-30.

Activity/buzz on this development reached a peak about 14 months ago. Anyone have any updates?

Link to comment
Share on other sites

Again, I think its strange they haven't "officially" publicized their tenants.

The Life in Chenal magazine hinted at a big announcement they are holding back on and I'd heard the same. I could speculate this means a dept store or additional development in the adjoining land behind it since that would be logical if it's 100% leased but I really have no idea.

Link to comment
Share on other sites

The Life in Chenal magazine hinted at a big announcement they are holding back on and I'd heard the same. I could speculate this means a dept store or additional development in the adjoining land behind it since that would be logical if it's 100% leased but I really have no idea.

This could be GREAT news. Again, if they could land a large, significant tenant and/or increase the total size/scope of the project, it would have a much better shot at becoming a real viable, successful development (with a regional draw).

As an aside, I drove by this weekend and I'm impressed with what I can see so far. Its also quite a bit larger than I had expected it to be - in spite of no real anchor.

Link to comment
Share on other sites

This could be GREAT news. Again, if they could land a large, significant tenant and/or increase the total size/scope of the project, it would have a much better shot at becoming a real viable, successful development (with a regional draw).

As an aside, I drove by this weekend and I'm impressed with what I can see so far. Its also quite a bit larger than I had expected it to be - in spite of no real anchor.

What kind of department store do you think it could be? Do you think this development is high-profile enough that Macy's could be a possible contender? Rumor has been for a while that they are looking at sites in Little Rock and in NWA.

Link to comment
Share on other sites

Well, if they were going to move, Shackleford should have been it. Let's hope this isn't the announcement for the Promenade at Chenal! :lol:

Don't kid like that! Now that I think about it, as sad as it would be, I could definately see that happening. It would definately bring Promenade at Chenal down a notch in terms of scale. It wouldn't be as devastating as a Wal-Mart however.

Link to comment
Share on other sites

Don't kid like that! Now that I think about it, as sad as it would be, I could definately see that happening. It would definately bring Promenade at Chenal down a notch in terms of scale. It wouldn't be as devastating as a Wal-Mart however.

No way that would happen. I was just joking.

Actually, if Sears were to move now, it would probably be whatever is happening (or if it is happening) at I-430/Col. Glenn.

Link to comment
Share on other sites

What kind of department store do you think it could be? Do you think this development is high-profile enough that Macy's could be a possible contender? Rumor has been for a while that they are looking at sites in Little Rock and in NWA.

Who knows. Sounds like Apork may have the inside track on this one.

Just pure speculation however, if it came down between an expanded property/development (more acreage) or a new, bang-up tenant (Cheesecake Factory, etc.), I'd choose the expanded development. I think this would be a better deal in the long run. Note that the original acreage was larger - not sure if that land is still available however. If the center is 100% leased, it may give RED the confidence to expand already...

Link to comment
Share on other sites

Who knows. Sounds like Apork may have the inside track on this one.

Just pure speculation however, if it came down between an expanded property/development (more acreage) or a new, bang-up tenant (Cheesecake Factory, etc.), I'd choose the expanded development. I think this would be a better deal in the long run. Note that the original acreage was larger - not sure if that land is still available however. If the center is 100% leased, it may give RED the confidence to expand already...

If the center is 100% leased, that also shows that retailers are showing confidence in this development. I do however wonder how many of the remaining unanounced tenants will be cell phone shops.

Has Cheesecake Factory shown an interest in the LR market or is it just pure speculation? If they were to come here, I would expect them to hold out for Park Ave but who knows.

Edited by bchris02
Link to comment
Share on other sites

If the center is 100% leased, that also shows that retailers are showing confidence in this development. I do however wonder how many of the remaining unanounced tenants will be cell phone shops.

Has Cheesecake Factory shown an interest in the LR market or is it just pure speculation? If they were to come here, I would expect them to hold out for Park Ave but who knows.

Cheesecake Factory was just a "for instance". I agree that Park Avenue would be much better suited, and I'd assume that they would agree.

Link to comment
Share on other sites

I could be wrong, but my expectations of the big announcement for next month were a bit lower than those posted above. I was thinking that the big announcement next month was just going to be what the other tenants are rather than any additional space. As Architect has noted, they've been silent for a long period on tenants so perhaps they just wish to create some buzz by listing several of the remaining tenants in one big bash. One thing is certain, if most of these tenants are going to open with a grand opening (and perhaps that a bad assumption), you'd think there will be all sorts of telltale activity that would leak the news (plumbing reports, job position openings etc). Based upon the size of this and the number of tenants currently listed, you'd think there must be almost as many unnamed tenants as named tenants. Something has got to give soon...

Link to comment
Share on other sites

If the center is 100% leased, that also shows that retailers are showing confidence in this development. I do however wonder how many of the remaining unanounced tenants will be cell phone shops.

Has Cheesecake Factory shown an interest in the LR market or is it just pure speculation? If they were to come here, I would expect them to hold out for Park Ave but who knows.

Cheesecake Factory is in Tulsa and Des Moines so I think the market size for LR is reasonable but they will wait for the right development. Then again, they considered and then passed on Pinnacle Hills. I would be a little surprised if they don't go to Park Ave, it seems like a much better fit.

Link to comment
Share on other sites

Don't kid like that! Now that I think about it, as sad as it would be, I could definately see that happening. It would definately bring Promenade at Chenal down a notch in terms of scale. It wouldn't be as devastating as a Wal-Mart however.

He was joking. Sears wouldn't jive with the tenant mix we'll see at Chenal. Neither would Penney's for that matter. I think Dillard's and Macy's would be the only options if a dept store was eventually added.

For those of you that don't realize it, the current space takes up about 2/3 of a triangle that is bounded by Lagrande, Rahling, and Chenal. The back third that is hidden was initially supposed to be part of the project but was dropped when Dillard's backed out. If RED really has this 100% leased they have to be thinking about doing something with that property. That would at the very least protect their development from something crappy being developed behind it which would affect their property values.

Link to comment
Share on other sites

Cheesecake Factory is in Tulsa and Des Moines so I think the market size for LR is reasonable but they will wait for the right development. Then again, they considered and then passed on Pinnacle Hills. I would be a little surprised if they don't go to Park Ave, it seems like a much better fit.

Plus, it will be 2 or more years before Park Avenue is in play, so the market will be that much more mature.

However, EJC may be right - it could merely be just the unveiling of tenants. And since, again as EJC pointed out, that not even half of them have been identified, there could be some real surprises.

Link to comment
Share on other sites

Plus, it will be 2 or more years before Park Avenue is in play, so the market will be that much more mature.

However, EJC may be right - it could merely be just the unveiling of tenants. And since, again as EJC pointed out, that not even half of them have been identified, there could be some real surprises.

I thought it was something different based on what I've heard but I and/or the person I talked to could've misunderstood.

Also, I think there is quite a bit of development being planned a little bit East of there, near the Kroger.

Link to comment
Share on other sites

He was joking. Sears wouldn't jive with the tenant mix we'll see at Chenal. Neither would Penney's for that matter. I think Dillard's and Macy's would be the only options if a dept store was eventually added.

For those of you that don't realize it, the current space takes up about 2/3 of a triangle that is bounded by Lagrande, Rahling, and Chenal. The back third that is hidden was initially supposed to be part of the project but was dropped when Dillard's backed out. If RED really has this 100% leased they have to be thinking about doing something with that property. That would at the very least protect their development from something crappy being developed behind it which would affect their property values.

Is it set up such that one of the shopping "streets" forms an opening or is on axis with the other 1/3 of the property (so that it could easily be expanded now or later)?

Link to comment
Share on other sites

Is it set up such that one of the shopping "streets" forms an opening or is on axis with the other 1/3 of the property (so that it could easily be expanded now or later)?

In the 8/06 plan, the last one published it was not. However, since then the plan has been modified so the "street" providing main access from Chenal Pkwy extends through the development, that is the original plan has a building behind the fountain in the development's center and now this is divided in half allowing traffic to flow behind it as well.

That said, the land is still listed for sale with Chenal Properties.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.