The Promenade At Chenal

[adman0468]

Since we've mentioned before that there's land around the center to develop and there's the rumor that it is 100% leased (which I'll believe when I see it), will expansion be a possibility? Maybe a department store could fit next to it. Macy's or Nordstrom's? We can wish.

[EJC]

Is this a big catch so to speak?

I could care less...but my wife...she's FIRED UP.

[candacet]

EJC...I'm with your wife, well if I can afford to drive over there.

[theman]

According to today's DOG article, stores that won't be coming to the Promenade for a few more years include Urban Outfitters and Anthropologie. Sephora doesn't have plans at the Promenade either.

RED says that the Promenade is not 100% leased contrary to what we have heard before.

Stores will start opening Memorial Day and continue throughout the summer. J Crew is scheduled to open Aug. 28 and DSW shoes at the end of Aug. A grand opening for the Promenade is planned in October.

[Architect]

According to today's DOG article, stores that won't be coming to the Promenade for a few more years include Urban Outfitters and Anthropologie. Sephora doesn't have plans at the Promenade either.

RED says that the Promenade is not 100% leased contrary to what we have heard before.

Stores will start opening Memorial Day and continue throughout the summer. J Crew is scheduled to open Aug. 28 and DSW shoes at the end of Aug. A grand opening for the Promenade is planned in October.

The article made the clear point that Apple wasn't included on the "official" tenant list b/c they have a policy of not pre-announcing stores before they open. Not surprising for Apple, since this policy is true for their products as well. I'm 99% positive that this is happening (they've already hired the store manager, etc...).

Also, I wouldn't rule Sephora out. As I recall, the article stated that the representative was bullish on the LR market, but they hadn't yet identified a location (or something to that affect).

[bchris02]

According to today's DOG article, stores that won't be coming to the Promenade for a few more years include Urban Outfitters and Anthropologie. Sephora doesn't have plans at the Promenade either.

So basically those stores are coming they are just waiting out the recession? Its a shame those stores aren't coming sooner. They would have been a huge catch for this development and the LR market. Apple however is a great catch and its something NWA doesn't have.

Edited April 21, 2008 by bchris02

[bwiched]

lots going on at the center....

*the actual DSW sign is up. they have removed the temporary hanging sign.

*the movie theater sign is about 1/2way up. it's red and only a few letters were placed by last friday afternoon.

*some of the parking lot lighting is now up.

looks like things are going to start moving fast now.

[ArkansasTraveler]

Does anyone out there know the strategy Sephora applies in its store placement relative to JCPenney locations with Sephora contract units inside? For the amount of buzz Sephora does get, I have to wonder if a proper store at Promenade would be considered close or far relative to Shackleford Crossing.

I'm really looking forward to J. Crew in late August, and an overall October opening could still be very beneficial

[bchris02]

Does anyone out there know the strategy Sephora applies in its store placement relative to JCPenney locations with Sephora contract units inside? For the amount of buzz Sephora does get, I have to wonder if a proper store at Promenade would be considered close or far relative to Shackleford Crossing.

I'm really looking forward to J. Crew in late August, and an overall October opening could still be very beneficial

[Architect]

I agree. I believe Godiva left Park Plaza with intention of locating in Summit, but since Summit never happened our market lost them altogether. That happened with a few other stores too like Brookstone and Disney Store.

Disney? Yes.

Brookstone? No. To my knowledge, they've never had a (permanent) Park Plaza (or Little Rock) location.

[Aporkalypse]

Letters are now going up on the movie theater as well, it looks nearly finished on the exterior.

Anyone know when they plan on starting on the outbuildings? They didn't pave those areas so I know they plan on building there, but they aren't even laying foundations yet as far as I can tell.

[bwiched]

i live in chenal and drive by the promenade several times a day. i'll post any and all updates on the property when i can...

*all of the letters are up on the movie theatre now. it says "chenal 9 imax".

*some of the trees have gone in (landscaping)

oh...did anyone catch the article in the sunday paper about the promenade? it was interesting. it was in a special little magazine. talked about all of the development in this area and talked about the other malls, as well. they did mention that apple hasn't announced its involvement in the promenade yet - but did say, as we've discussed here, that they do have a plumbing permit. very informative little magazine and nice to read about other developments in the state.

Edited April 28, 2008 by bwiched

[Aporkalypse]

i live in chenal and drive by the promenade several times a day. i'll post any and all updates on the property when i can...

*all of the letters are up on the movie theatre now. it says "chenal 9 imax".

*some of the trees have gone in (landscaping)

oh...did anyone catch the article in the sunday paper about the promenade? it was interesting. it was in a special little magazine. talked about all of the development in this area and talked about the other malls, as well. they did mention that apple hasn't announced its involvement in the promenade yet - but did say, as we've discussed here, that they do have a plumbing permit. very informative little magazine and nice to read about other developments in the state.

In addition, it looks like they are starting to lay the foundation for the outbuildings, or at least the one on the Easternmost portion of the site.

[LRU1967]

. they did mention that apple hasn't announced its involvement in the promenade yet - but did say, as we've discussed here, that they do have a plumbing permit.

Is it possible, or maybe even likely, that Apple has decided not to locate in the Promenade but is waiting on Park Avenue?

[Aporkalypse]

Is it possible, or maybe even likely, that Apple has decided not to locate in the Promenade but is waiting on Park Avenue?

..or they could take Bombay's space at Midtowne. The stores you see in Midtowne seem to complement those you find around Apple stores in other markets.

[bchris02]

The Promenade at Chenal was listed on Apple's website for new store openings.

http://www.apple.com/jobs/us/store/

Here is a good article on the retail environment in LR if it hasn't already been posted. This recession has come at the worst possible time for LR.

http://www.nwanews.com/adg/Business/223408/

[LRU1967]

The Promenade at Chenal was listed on Apple's website for new store openings.

http://www.apple.com/jobs/us/store/

Here is a good article on the retail environment in LR if it hasn't already been posted. This recession has come at the worst possible time for LR.

http://www.nwanews.com/adg/Business/223408/

But has a binding contract been signed?

[LRguy21]

If this place is to open in about 2 ot 3 months, why isnt there a know tentants list?

If apple isnt in this, its going to be a huge blow!!

Btw, it looks very nice. I drive by it alot and its going to be a really fun place to go at night. The movie theater will help keep it alive.

[Architect]

If this place is to open in about 2 ot 3 months, why isnt there a know tentants list?

If apple isnt in this, its going to be a huge blow!!

Btw, it looks very nice. I drive by it alot and its going to be a really fun place to go at night. The movie theater will help keep it alive.

I hope its successful, but I think long term, the lack of an anchor department store (or two) will undermine its ultimate gravity for both people/traffic and tenants. As I mentioned previously, the lack of an anchor tenant has scared off several high-end tenants.

Oh, and I have no doubt Apple will be there when it opens. As the article in the DOG stated, Apple has a "no comment" policy about EVERYTHING until it comes out - from software to retail stores.

[Aporkalypse]

I hope its successful, but I think long term, the lack of an anchor department store (or two) will undermine its ultimate gravity for both people/traffic and tenants. As I mentioned previously, the lack of an anchor tenant has scared off several high-end tenants.

Oh, and I have no doubt Apple will be there when it opens. As the article in the DOG stated, Apple has a "no comment" policy about EVERYTHING until it comes out - from software to retail stores.

Southlake Towne Square is probably the premier development in Texas in two decades and it intentionally lacked an anchor. In fact, I'm not sure the movie theater won't generate more traffic than Dillard's would've. I doubt that's the issue.

[bchris02]

I hope its successful, but I think long term, the lack of an anchor department store (or two) will undermine its ultimate gravity for both people/traffic and tenants. As I mentioned previously, the lack of an anchor tenant has scared off several high-end tenants.

How likely is it that an anchor store could be added at a later time after the recession is over? I don't think any of our new developments will realize their full potential as long as our economy is in recession and retailers are not expanding.

Southlake Towne Square is probably the premier development in Texas in two decades and it intentionally lacked an anchor. In fact, I'm not sure the movie theater won't generate more traffic than Dillard's would've. I doubt that's the issue.

The movie theater will bring in more traffic, but a department store would bring in the right kind of traffic. Movie theaters bring teenagers, more likely to attract the Abercrombies and the Hollisters. I could easily see Urban Outfitters fitting into this after the recession. To get truly high end retail, you need the professional with money demographic, and for that you need a high end department store.

Edited May 5, 2008 by bchris02

[Aporkalypse]

How likely is it that an anchor store could be added at a later time after the recession is over? I don't think any of our new developments will realize their full potential as long as our economy is in recession and retailers are not expanding.

The movie theater will bring in more traffic, but a department store would bring in the right kind of traffic. Movie theaters bring teenagers, more likely to attract the Abercrombies and the Hollisters. I could easily see Urban Outfitters fitting into this after the recession. To get truly high end retail, you need the professional with money demographic, and for that you need a high end department store.

Both of these are very good points. An anchor dept store could still be built behind the development. That land is still for sale on Chenal's commercial website.

I agree about the movie theater demographic. I assume the developers are hoping the home prices and incomes in the immediate surrounding area will provide that "professionals with money" demographic. On paper, it's the wealthiest area of Arkansas. They will do well there with local traffic, but a high-end department store would help draw those from outside of West LR to the development.

[bchris02]

In all actuality, movie theaters and teenagers can somewhat scare away truly high end development, due to shoplifting and other nuissances that come with that demographic. Quail Springs Mall in OKC is a perfect example of this. That mall went downhill fast after they added the movie theater. It has survived as a mid-tier mall, but now that the big box developments (there are many going up in the area surrounding the mall) are grabbing mid-level customers, that mall could be in trouble in the near future.

[Aporkalypse]

In all actuality, movie theaters and teenagers can somewhat scare away truly high end development, due to shoplifting and other nuissances that come with that demographic. Quail Springs Mall in OKC is a perfect example of this. That mall went downhill fast after they added the movie theater. It has survived as a mid-tier mall, but now that the big box developments (there are many going up in the area surrounding the mall) are grabbing mid-level customers, that mall could be in trouble in the near future.

Still, most big time malls still have theaters. They also usually have multiple anchors as well.

The fad in Dallas at Northpark (by far the nicest mall in DFW) and Valley View was for AMC to add stadium seating theatres essentially to the roof of the existing mall structures, adding a new story.

[Architect]

In fact, I'm not sure the movie theater won't generate more traffic than Dillard's would've. I doubt that's the issue.

The lack of a dept. store was (apparently) a deterrent to some retailers, from what I've heard.

Regardless, the point is that it is a relatively small development, and it is remote; I'm guessing Southlake Town Square is much larger, correct? If it could address one issue or the other, I'd have a much better feeling about its success.