Drive for 'Center City' retail

[TheOneRJ]

57 minutes ago, CLT2014 said:

Total store not in SouthPark or Charlotte market: 24
AllSaints, Amazon Books, Away Luggage, Aritizia, BCBGMaxazria, Bldwn, Cole Haan, COS, Daniel Wellington, Evereve, Filsons, Lily Rain, Lively, Lorna Jane, Paige, Ray Ban, Robert Graham, Saint Bernard, Sandro Paris, Stuart Weitzman, Ted Baker, Travis Mathew, Vince, Zara

Stores at SouthPark  not in Austin: 23
Alex and Ani, American Girl, bare minerals, Ballard Designs, Belk, Brahmin, Burberry, Eileen Fisher, Hans Krug, Henig Furs, I.C. London, Ike Behar, Jack Rodgers, JMClaughlin, Kate Spade, Lacoste, Papyrus, Paul Simon Co., St. John, The North Face, Tommy John, Trina Turk, True Religion

Am I missing some major ones? Looks to me like Austin has some luxury brands we don't like BCBGMaxazria, COS, Sandro, Stuart Weitzman, et. while Charlotte has some luxury brands like Brahmin, Eileen Fisher, Kate Spade, Lacoste, St. John, et. that they don't.
 

Some of these are local companies, such as Paul Simon to Charlotte and Saint Bernard to Austin. Most of the others aren't necessarily high end.
 

The only notable high end stores Charlotte has that Austin lacks are Burberry and St. John. Austin has AllSaints, Ted Baker, Vince, Stuart Weitzman, while also carrying Dolce & Gabbana, etc inside of their Neiman Marcus store (which Charlotte does not). 

Edited January 22, 2020 by TheOneRJ

[turbocraig]

11 minutes ago, TheOneRJ said:

Some of these are local companies, such as Paul Simon to Charlotte and Saint Bernard to Austin. Most of the others aren't necessarily high end.
 

The only notable high end stores Charlotte has that Austin lacks are Burberry and St. John. Austin has AllSaints, Ted Baker, Vince, Stuart Weitzman, while also carrying Dolce & Gabbana, etc inside of their Neiman Marcus store (which Charlotte does not). 

Since you mentioned Burberry, what ever happened when they announced a few years ago that they'd be closing the SP store after the holiday season that year (I want to say sometime around 2016ish), then it just never happened.  There wasn't any explanation that I ever heard why that decision was apparently reversed.  I wondered if Simon worked out something with them in the background on their lease agreement in order to keep the brand name in the mall's portfolio since Hermes, RL, and a few others had closed around that same time.  Was it a last-minute face saving move for Simon and the mall? I honestly have no idea.  

[TheOneRJ]

1 minute ago, turbocraig said:

Since you mentioned Burberry, what ever happened when they announced a few years ago that they'd be closing the SP store after the holiday season that year (I want to say sometime around 2016ish), then it just never happened.  There wasn't any explanation that I ever heard why that decision was apparently reversed.  I wondered if Simon worked out something with them in the background on their lease agreement in order to keep the brand name in the mall's portfolio since Hermes, RL, and a few others had closed around that same time.  Was it a last-minute face saving move for Simon and the mall? I honestly have no idea.  

I had always assumed that business picked back up and they decided to stay, but Simon trying to save the mall’s image is possible. Ralph Lauren closed in 2013, while Burberry announced it would close in 2015, with Hermès announcing their closure in 2016. The mall has closed more luxury stores than they’ve added them, whether it be by lack of business or company struggles. And while retail is obviously in a transition period, luxury stores are still opening. Nashville just opened their Gucci store (which is another nonexistent brand in Charlotte) last month. 

[Madison Parkitect]

35 minutes ago, TheOneRJ said:

Some of these are local companies, such as Paul Simon to Charlotte...

It's weird that he opened up a clothing shop here, especially since he still has a successful music career, but everyone's gotta make a buck I guess. 

[Crown]

 

On 1/22/2020 at 10:46 AM, TheOneRJ said:

Some of these are local companies, such as Paul Simon to Charlotte and Saint Bernard to Austin. Most of the others aren't necessarily high end.
 

The only notable high end stores Charlotte has that Austin lacks are Burberry and St. John. Austin has AllSaints, Ted Baker, Vince, Stuart Weitzman, while also carrying Dolce & Gabbana, etc inside of their Neiman Marcus store (which Charlotte does not). 

Southpark has a Stuart Weitzman source: I love shoes. 

[urbanlover568]

Just entered 2020 and a significant amount of store closings happening. Going to he very hard for Developers to justify any retail. 

 

https://moneywise.com/a/chains-closing-the-most-stores-in-2020

[AirNostrumMAD]

^ Luckily a lot of those aren't located in urban areas.

I think instead of focusing on Uptown retail, we need to view retail in the context of Uptown, Midtown and SouthEnd. We should really view this area as a single entity. So retail is flourishing - I think - in "center city".  Of course, BJ's shut down but overall the past 8 years, retail has exploded in Center City. 

Once uptown fills out (particularly 2nd and 1st ward), maybe there wont be a psychological barrier of Metropolitan being  "down yonder" 

[cltbwimob]

Bad for Uptown retail but good for Southend retail-Ole Mason Jar is moving their store to Southend at 1930 Camden.

https://us5.campaign-archive.com/?u=2a350f7bd308623b3ef50eafc&id=de9bc73baf

[tozmervo]

16 hours ago, cltbwimob said:

Bad for Uptown retail but good for Southend retail-Ole Mason Jar is moving their store to Southend at 1930 Camden.

https://us5.campaign-archive.com/?u=2a350f7bd308623b3ef50eafc&id=de9bc73baf

Are they located in uptown now? I've worked in uptown for 7 years and never heard of them

[CLT2014]

35 minutes ago, tozmervo said:

Are they located in uptown now? I've worked in uptown for 7 years and never heard of them

Second floor of Latta Arcade now. I'm sure business will do much better at the Design Center in proximity to other retail, closer to the light rail, and with better parking options. Smart move for them and more upmarket tenants to co-locate with. Latta is pretty much bars and fast casual restaurants for the lunch crowd. Not really a place you think to drop $200 on a dress shirt.

Edited January 25, 2020 by CLT2014

[Desert Power]

You can go upstairs at the Latta Arcade? 

[CLT2014]

4 hours ago, Desert Power said:

You can go upstairs at the Latta Arcade? 

Yes, several businesses on upper level.

[tarhoosier]

http://landmarkscommission.org/2016/12/12/latta-arcade/

Cotton graders used natural light on second floor to determine quality of product. Product samples were brought from what is now the 3d street light rail station which was a dock for cotton in the harvest season, and other products year long. Cotton factors and brokers worked in the building at that station location and graders in Latta Arcade. The remnant rails of multiple lines are still in the parking area east of the station. A pair can be seen in the asphalt on weekends whenever the daily parkers are elsewhere. Recall that 4th street crossed the rail line on grade and was lowered in the 20th century to accommodate motor traffic.

[kermit]

I do think retailers will want to move into the Uptown market, but employment trends make it look like that growth will come at the expense of existing suburban markets. (food and drink retail is in a different employment category)

Edited February 2, 2020 by kermit

[LKN704]

I hate to change the subject, but what was actually located in CityFair? I did a quick google search and couldn't find anything. Just fast food places?

[southslider]

7 hours ago, kermit said:

I do think retailers will want to move into the Uptown market, but employment trends make it look like that growth will come at the expense of existing suburban markets. (food and drink retail is in a different employment category)

The exception will be places with overall growth in all markets, especially market-rate multi-family. The Sun Belt has suffered less in the Retail Apocalypse, thanks to migration. 

[rancenc]

8 hours ago, LKN704 said:

I hate to change the subject, but what was actually located in CityFair? I did a quick google search and couldn't find anything. Just fast food places?

LKN704, the Cityfair site was located where the current Truist Tower (the former Hearst Tower) is located.  If I remember correctly you could enter from College, Tryon, 5th, and 6th streets.

Edited February 2, 2020 by rancenc

[urbanlover568]

So far this year, there has been more store openings than closings! Let's keep this trend going and get a urban mall in uptown! 

[southslider]

^Malls are relics.   Overstreet is bad enough.

[urbanlover568]

12 minutes ago, southslider said:

^Malls are relics.   Overstreet is bad enough.

Yea, Brickell City Centre is a complete mistake.  Who would go to a urban mall like that! 

https://thenewtropic.com/2016-real-estate-swire/

[CLT2014]

2 hours ago, mpretori said:

So far this year, there has been more store openings than closings! Let's keep this trend going and get a urban mall in uptown! 

Retailers that are closing are the type of tenants that you would see in an urban mall like Papyrus, Express, Bose, Macy's, and Gap. 

Retailers that are opening stores.... are not exactly what we are looking for in Uptown.... 20% of store openings announced in the USA are for gas station convenience store "Casey's." The second largest wave of store openings is the 40 locations announced by Love's Truck Stops and Travel Centers. So nearly 25% of store openings announced in America are basically gas stations.... while the biggest store closings are clothing and mall-like retailers like department stores.

https://risnews.com/store-closings-announcements-already-top-1200-2020

Edited February 2, 2020 by CLT2014

[urbanlover568]

Just now, CLT2014 said:

Retailers that are closing are the type of tenants that you would see in an urban mall like Papyrus, Express, Bose, Macy's, and Gap. 

Retailers that are opening stores.... are not exactly what we are looking for in Uptown.... 20% of store openings announced are for gas station convenience store "Casey's." The second largest wave of store openings is the 40 locations announced by Love's Truck Stops and Travel Centers. So nearly 25% of store openings announced in America are basically gas stations.... while the biggest store closings are clothing and mall-like retailers like department stores.

https://risnews.com/store-closings-announcements-already-top-1200-2020

Most of those closings are in suburbs who see the convenience of ecommerce.  Urban areas are still faring better. I don't see Brickell closing any stores...

 

[CLT2014]

11 minutes ago, mpretori said:

Most of those closings are in suburbs who see the convenience of ecommerce.  Urban areas are still faring better. I don't see Brickell closing any stores..

Agree, just pointing out that the statistic that for 2020 store openings outnumber store closings nationwide is largely driven by convenience stores and truck stops so far. Nationwide, retail is still not in great shape. A select view hyper wealthy metro areas with the richest 1% in the country like Los Angeles, San Francisco, Miami, Washington DC, et. have some urban wealthy areas doing very well, but certainly not representative of the retail picture as a whole. 

Edited February 2, 2020 by CLT2014

[urbanlover568]

12 minutes ago, CLT2014 said:

Agree, just pointing out that the statistic that for 2020 store openings outnumber store closings nationwide is largely driven by convenience stores and truck stops. 

Loves is opening 40 locations.  Casey’s is opening  350. For a total of 390 stores. The total so far this year is  1,718. That would make Loves and Caey's only 22.7% of the total store openings. 77.3%  or 1,328 store of those are not that.  The number of closings were 1,211. So withstanding those stores, there are more stores openings than closing. 

I know withstanding Loves and Casey's the delta is +117 stores,  but it's a small victory for retail that more wasn't lost. 

[kermit]

5 minutes ago, mpretori said:

Loves is opening 40 locations.  Casey’s is opening  350. For a total of 390 stores. The total so far this year is  1,718. That would make Loves and Caey's only 22.7% of the total store openings. 77.3%  or 1,328 store of those are not that.  The number of closings were 1,211. So withstanding those stores, there are more stores openings than closing. 

I know withstanding Loves and Casey's the delta is +117 stores,  but it's a small victory for retail that more wasn't lost. 

and after you factor in Dollar General openings you are in heavy negative territory...

https://www.cnn.com/2019/12/05/business/dollar-general-stores-stock-earnings/index.html