The Promenade At Chenal

[Architect]

Just some of my thoughts about Promenade at Chenal:

1 - I'm still concerned about the (current) remoteness of this center. Even 10-15 years down the road, when certainly it will find itself surrounded by more-and-more population density, its still too far from the major freeway system to be a regional draw....I hope I'm wrong (see item 2)! For it to be successful, its really going to have to depend on the immediate local area for its customer base.

2 - On the flip side, its distance from Park Plaza is actually a blessing for the city and region. It is apparent that its tenant lineup is forming as the market's "second" location for high-end retail outlets as currently housed at Park Plaza/Mid Town (this is a decided shift from NLR once holding that title as the second location). While I was sort of on the fence about Summit (there were both good and bad aspects), the one good thing about Summit NOT being built was that it would have spelled the demise of Park Plaza/mid-town - in essence - because of its relative proximity. That drive on I-630 between the University exit and Shackleford takes all of about 5 minutes. The promenade's location is certainly better for the viability of Park Plaza, etc.

3 - I would hope that the Promenade's size/scale would develop and mature such that it would help mitigate my concerns in item 1. 35 (or so) Phase I tenants seems VERY low. Also, it would be quite nice if they landed a major anchor - hopefully an alternative to Dillard's. Here's to hoping that Macy's (or similar) would announce at Promenade AND take over the space at McCain (though McCain appears to be suffering the all too familiar cold-shoulder from Simon). Also, Cheesecake Factory would be nice!

Long-and-short, I'm excited about this high-end development, but hoping that it will prove viable on its own without cannibalizing other centers and areas of town. In other words, I hope we find that Little Rock is large enough to support two major, mid-high end retail centers.

[turboturtle]

Apple store is a huge milestone for LR. Its one of the major stores the market is lacking. I wish we could land a store like Fry's, MicroCenter, or PC Club in LR, but that is probably a long shot as those stores are usually only in major markets. Anybody think that with CompUSA closing, larger tech chains will find a niche in mid-sized metros?

I bet CompUSA's demise is a sign of things to come... the integration of traditional computing and home entertainment is acting like a buzz saw across computer/electronics retail. I believe this category will undergo more consolidation in the future. There is a saturation of retailers offering the same products.

Prior to CompUSA, Radio Shack closed down a lot of their stores a year or so ago. This year Radio Shack became one of my preferred retailers because of their selection of electronic circuitry components and soldering devices. They have some products you can't walk in and buy anywhere else in the City.

[bchris02]

Long-and-short, I'm excited about this high-end development, but hoping that it will prove viable on its own without cannibalizing other centers and areas of town. In other words, I hope we find that Little Rock is large enough to support two major, mid-high end retail centers.

Isn't LR an underserved market for retail? The retail offerings up until these recent developments have been substantially less than in other cities its size (i.e. Des Moines, Shreveport). I don't think Park Plaza tenants would locate a second location in the Promenade if it couldn't be supported. Plus, Apple is very picky about where they locate stores.

I bet CompUSA's demise is a sign of things to come... the integration of traditional computing and home entertainment is acting like a buzz saw across computer/electronics retail. I believe this category will undergo more consolidation in the future. There is a saturation of retailers offering the same products.

Prior to CompUSA, Radio Shack closed down a lot of their stores a year or so ago. This year Radio Shack became one of my preferred retailers because of their selection of electronic circuitry components and soldering devices. They have some products you can't walk in and buy anywhere else in the City.

Yeah, true. If Best Buy would start offering more for the high-end PC enthusiasts(system builders, PC gamers, etc), there wouldn't be a need for those other retailers. Best Buy caters to the everyday customer who wants the cheapest thing, and its nice for us who want more to have an alternative.

Edited December 10, 2007 by bchris02

[Architect]

Isn't LR an underserved market for retail? The retail offerings up until these recent developments have been substantially less than in other cities its size (i.e. Des Moines, Shreveport). I don't think Park Plaza tenants would locate a second location in the Promenade if it couldn't be supported. Plus, Apple is very picky about where they locate stores.

bchris,

I concur that the Little Rock retail market has been under-served for some time - primarily due to the lack (until now) of substantial new developments. As far as less than other markets:

Des Moines, YES

- Des Moines (MSA) is slightly smaller than LR, but higher income per capita. It is clear that Des Moines is a great example of having benefited from one MAJOR retail development by General Growth properties. The situation in Little Rock is the exact opposite - a plethora of small to medium competing projects.

Des Moines, additionally, is a very sophisticated, highly educated market - its downtown is teeming with activity - and not the conjured up "entertainment" kind, but the 60,000 workforce kind (compared to 40,000 in downtown LR).

Shreveport, NO

- With family in Shreveport, and from my own observations, I'm baffled by this statement as its been our clear observation that Shreveport is a decidedly blue-collar, gritty town with little high-end development. Correct me if something has changed recently, but I clearly recall even the most basic, run-of-the-mill outfits (such as Chili's) not even having a Shreveport location until years and years after Little Rock. My family down there would complain constantly about the lack of options in Shreveport and often came to Little Rock for things to do (I kid not).

I'm not trying to rail on Shreveport - there are some nice aspects (such as the skyline, while not tall, quite masculine) - just commenting on the retail scene. Anyway, let me know what's changed.

[Aporkalypse]

bchris,

I concur that the Little Rock retail market has been under-served for some time - primarily due to the lack (until now) of substantial new developments. As far as less than other markets:

Des Moines, YES

- Des Moines (MSA) is slightly smaller than LR, but higher income per capita. It is clear that Des Moines is a great example of having benefited from one MAJOR retail development by General Growth properties. The situation in Little Rock is the exact opposite - a plethora of small to medium competing projects.

Des Moines, additionally, is a very sophisticated, highly educated market - its downtown is teeming with activity - and not the conjured up "entertainment" kind, but the 60,000 workforce kind (compared to 40,000 in downtown LR).

Shreveport, NO

- With family in Shreveport, and from my own observations, I'm baffled by this statement as its been our clear observation that Shreveport is a decidedly blue-collar, gritty town with little high-end development. Correct me if something has changed recently, but I clearly recall even the most basic, run-of-the-mill outfits (such as Chili's) not even having a Shreveport location until years and years after Little Rock. My family down there would complain constantly about the lack of options in Shreveport and often came to Little Rock for things to do (I kid not).

I'm not trying to rail on Shreveport - there are some nice aspects (such as the skyline, while not tall, quite masculine) - just commenting on the retail scene. Anyway, let me know what's changed.

We've been through this before on many other threads but the fact LR is underserved for retail has been tied to the Summit Mall for a decade. You had a site for a major mall development that would've been the largest in Arkansas by a good bit and everyone was afraid to do anything because of Simon and its 800 lb gorilla. When Simon finally gave up because the city of LR failed to make concessions multiple developers that were considering developments all over town jumped into them at once. It was predictable and at the end of it we'lll have ample retail.

I'll admit, I don't get the Shreveport comparison. There's not much Shreveport and Jackson have that we don't.

[84Hog]

I'll admit, I don't get the Shreveport comparison. There's not much Shreveport and Jackson have that we don't.

We had an occasion to visit Shreveport last year. I was very impressed by their revitalization efforts on their downtown riverfront. Casinos, high-rise hotels, a Bass Pro and accompanying retail development, all well done and VERY BUSY.

That was an eye opener for me.

[Architect]

We had an occasion to visit Shreveport last year. I was very impressed by their revitalization efforts on their downtown riverfront. Casinos, high-rise hotels, a Bass Pro and accompanying retail development, all well done and VERY BUSY.

That was an eye opener for me.

Very true, though it is all casino driven (for what that's worth). I had been told that the shopping center on the Bossier Riverfront wasn't high-end, and was even perhaps outlet? I looked at the website one time and wasn't overly impressed. Kudos however to the vision for putting this in an urban area. There is also Sci-Port, a kids science museum downtown Shreveport which looks nice...nicer than the Museum of Discovery.

[84Hog]

Very true, though it is all casino driven (for what that's worth). I had been told that the shopping center on the Bossier Riverfront wasn't high-end, and was even perhaps outlet? I looked at the website one time and wasn't overly impressed. Kudos however to the vision for putting this in an urban area. There is also Sci-Port, a kids science museum downtown Shreveport which looks nice...nicer than the Museum of Discovery.

Yes it is an outlet mall, but very well done. In the same style as Shackleford Crossing ("streets" between the shops, etc) The night we were there their symphony was playing an outdoor concert by the river.

[LRguy21]

It think there is enough money in the Cheanl Valley area to make the promenade work. Most of the store are a second, which is great cuz, then i wont have to go to Park Plaza all the time. I like Park Plaza, but theres nothing like being able to be at a store in less than 5 mins. I hope that the developer is seraching high and low for a department store. If say a Macys( For gods sake i hope so) came into the project, It would have a greater outer draw for poential customers. But i think a Macys is more likely to go into a place like Shalkeford Crossing. Anyways........im so excited. I personaly hope that the center includes a Abercrombie & Fitch, Urban Outfitters(New to the Area), Chessecake Factory, etc. It would be great.

[bchris02]

It think there is enough money in the Cheanl Valley area to make the promenade work. Most of the store are a second, which is great cuz, then i wont have to go to Park Plaza all the time. I like Park Plaza, but theres nothing like being able to be at a store in less than 5 mins. I hope that the developer is seraching high and low for a department store. If say a Macys( For gods sake i hope so) came into the project, It would have a greater outer draw for poential customers. But i think a Macys is more likely to go into a place like Shalkeford Crossing. Anyways........im so excited. I personaly hope that the center includes a Abercrombie & Fitch, Urban Outfitters(New to the Area), Chessecake Factory, etc. It would be great.

Is a department store even in the works, or is the plan to go without one? If they could get at least one anchor located nowhere else in the metro, I think it would be a great success.

[Architect]

Is a department store even in the works, or is the plan to go without one? If they could get at least one anchor located nowhere else in the metro, I think it would be a great success.

The only thing we know is that originally it was planned for a Dillard's, then Dillard's pulled out inexplicably. To my knowledge, the "spot" is still there for a main tenant unless the movie theater now occupies it.

By the way, relatively new plumbing data confirms Coldwater Creek, Bebe's and Victoria's Secret (if these weren't already posted).

[LRguy21]

Hey, bebe is new. it does nothing for me, but hell, its new. HAHA. I forgot about the moive theater. I think that will help alot too. But nothing helps like an Anchor.

[bchris02]

Hey, bebe is new. it does nothing for me, but hell, its new. HAHA. I forgot about the moive theater. I think that will help alot too. But nothing helps like an Anchor.

The theater and Apple is what makes me so excited about the Promenade. I am really hoping some decent upper-tier chain restaurants new to the market find their way to the Promenade. Chili's is pretty disappointing. Have any other restaurants been announced?

[theman]

The theater and Apple is what makes me so excited about the Promenade. I am really hoping some decent upper-tier chain restaurants new to the market find their way to the Promenade. Chili's is pretty disappointing. Have any other restaurants been announced?

So, let's get that list of tenants going:

J Crew

Apple

Bebe

Victoria's Secret

Coldwater Creek

Dickinson Theater/IMAX

Chili's

Portrait Innovations

Ann Taylor Loft

Journeys

Finish Line

American Eagle

I know I've left out some.

[Architect]

The theater and Apple is what makes me so excited about the Promenade. I am really hoping some decent upper-tier chain restaurants new to the market find their way to the Promenade. Chili's is pretty disappointing. Have any other restaurants been announced?

As I mentioned in another post, I heard that Abuelos was shopping that development (formerly associated with Schackelford).

[schwilj]

So, let's get that list of tenants going:

J Crew

Apple

Bebe

Victoria's Secret

Coldwater Creek

Dickinson Theater/IMAX

Chili's

Portrait Innovations

Ann Taylor Loft

Journeys

Finish Line

American Eagle

I know I've left out some.

This is not a bad list so far. I hope some more higher end stores or new businesses jump on. At least there is no AT&T, Alltel, Sprint, etc... yet (we always need another wireless store). Unless I missed it.

It would be nice if we got a Ruehl. Probably unlikely at this state as I don't think it is in too many markets (at least in one comparable to LR)

Edited December 11, 2007 by shcwilj

[bchris02]

This is not a bad list so far. I hope some more higher end stores or new businesses jump on. At least there is no AT&T, Alltel, Sprint, etc... yet (we always need another wireless store). Unless I missed it.

It would be nice if we got a Ruehl. Probably unlikely at this state as I don't think it is in too many markets (at least in one comparable to LR)

Asking for Ruehl is like asking for Gucci - not in this market! Nice to dream though. I hope it is just able to pull in some of the stuff Rogers got in their Promenade. I don't see why so many retailers and restaurants choose NWA over Little Rock for their first locations in Arkansas.

Edited December 11, 2007 by bchris02

[Stormcrow]

Asking for Ruehl is like asking for Gucci - not in this market! Nice to dream though. I hope it is just able to pull in some of the stuff Rogers got in their Promenade. I don't see why so many retailers and restaurants choose NWA over Little Rock for their first locations in Arkansas.

I'm sure the growth rate wow factor has a lot to do with that. LR should be primed for some pretty major growth in the next 2 years with new manufacturers coming in. Now, I realize the majority of those jobs that will be created by LM and Wellspun aren't going to be nearly as high paying as many of the jobs created in NWA but it sure can't hurt the statistics.

I just hope NWA can support those things that have gone in.

[bchris02]

I'm sure the growth rate wow factor has a lot to do with that. LR should be primed for some pretty major growth in the next 2 years with new manufacturers coming in. Now, I realize the majority of those jobs that will be created by LM and Wellspun aren't going to be nearly as high paying as many of the jobs created in NWA but it sure can't hurt the statistics.

I just hope NWA can support those things that have gone in.

In all honesty, I think NWA will see cannibalization before Little Rock will. I am not sure NWA has the population to support the kinds of developments going in. I see Wal-Mart as a bubble that has to burst eventually. The one thing they have going for them is their population is sprawled out over a large land-area, so Rogers restaurants/retail is less likely to cannibalize Fayetteville and vice versa. Nonetheless, you are already starting to see restaurants fail in NWA.

Edited December 11, 2007 by bchris02

[Architect]

Add "Lids" to the list of tenants (I believe its some sort of sports clothing place...not too impressive).

[Sammy00]

They need to pursue a Williams Sonoma and/or Macy's.

The Pinnacle Hills Promenade in Rogers has a WS.

Don't know if they could pull off a Macy's, but that would really spark some interest.

One would think the theater and Apple Store would do nothing but help them in their pursuit of other higher end retail. Apple would open anyone's eyes.

[LRguy21]

I think i read some where that Hollister was going to open another store there. I would like to see another Abercrombie & Fitch. And yes, a Macys would be nice. Btw, is LR the largest city with out a Macys?

How does the Apple Store change things? Does it open doors? Close them?

[LRU1967]

I think i read some where that Hollister was going to open another store there. I would like to see another Abercrombie & Fitch. And yes, a Macys would be nice. Btw, is LR the largest city with out a Macys?

How does the Apple Store change things? Does it open doors? Close them?

I've been in five different Apple stores and they've been doing good business each time. People that use Macintosh computers are frequently zealots not to mention all the iPOD users. The nearest store has been in Memphis I believe the LR store will bring a lot of shoppers to the new center. I live in Hillcrest and would probably never drive out to Chenal to shop but I will go to the Apple store.

As for the rest of the announced stores, it's not impressive. Very little new, the center needs a major department store.

[schwilj]

They need to pursue a Williams Sonoma and/or Macy's.

The Pinnacle Hills Promenade in Rogers has a WS.

Don't know if they could pull off a Macy's, but that would really spark some interest.

One would think the theater and Apple Store would do nothing but help them in their pursuit of other higher end retail. Apple would open anyone's eyes.

We do have Williams Sonoma at Midtowne

I'd like to see Restoration Hardware here, maybe even Crate & Barrel

[Stormcrow]

We do have Williams Sonoma at Midtowne

I'd like to see Restoration Hardware here, maybe even Crate & Barrel

An IKEA would be a wonderful addition. I'll keep dreaming though.