New York to Dallas to open a retail furniture store (The Colony: neighborhoods, luxury)

[primeexample]

Originally Posted by TXNGL

"Since when is Bernhardt a fun cool luxury brand? They sell big box store type stuff too. All matchy matchy bed room sets and living room sofas that are clearly boring. Oh you think because they're priced high that they're crap doesn't come from China? Nothing unique, fun, cool, colorful, interesting."

Matchy matchy is what sells, for the most part, in the northern suburbs, that's why there is so much up there. That's why people are trying to steer you south.

That matchy matchy probably only sells because the options in the northern suburbs are limited

[Squirl]

Originally Posted by primeexample

That matchy matchy probably only sells because the options in the northern suburbs are limited

I hate matching furniture suites. All my rooms are comprised of individual pieces. I haven't purchased brand new furniture in decades. I am retired and pairing down! But (it doesn't match anything) I sure do like my Bernhardt server and Massoud loveseat (both brands carried by NBM).

I went shopping for furniture with a decorator a few years back -- when we were creating a home office -- at Cantoni and Roche Bobois. Both stores were in the Galleria area.

[primeexample]

Originally Posted by JTC Mom

I'm not all that knowledgeable about areas "north of Dallas" but in the late 1990s I worked up in Plano when they were building out the Shops at Legacy and I do recall a few unique home decor stores up there...along with some independent boutiques (clothing and otherwise) and some good restaurants. I hear the area is still thriving but no first hand knowledge. I am not a real estate person but maybe this is an area that would do well for your shop - esp since your data suggests you have lots of buyers up there. There actually was a huge furniture store up there a number of years back and it isn't there any more (so maybe it's a terrible location!) Just a thought.

Thank you! Yes! Isn't that shopping center adorable? I actually was looking at the shops at legacy last year but I was so skeptical about the fact that now its full of restaurants and not much retail. However, they are trying bring in more retail from what I gather. I really just think these outdoor shopping centers have so much potential to be great if they can get in the right mix of tenants.

I think that huge retailer your talking about was Rob & Stucky. That entire company went bankrupt but I don't think it really had anything to do with legacy but because they weren't being managed properly. Now they have a Stacy's there and I believe they are on their way out too...

[TurtleCreek80]

Originally Posted by primeexample

This is very helpful! Thank you. Ya know, I did notice in willow bend there were quite a bit of retailers closing and opening. We were considering taking a short term lease just to see how we'd do but my goodness the emptiness in that place is scary lol.

I'm going to look into knox-henderson area which is one of my favorites anyway. I was just thinking that since there is so much new development in the northern part of dallas they'd might need some sort of luxury furniture *shrug*. Some of my family members moved to the colony recently and they were complaining that there was no place to shop for furniture and they didn't want to drive all the way to knox henderson.

I think the difference between in Dallas and the ex-burbs is that in the uptown / Lakewood/ park cities / Preston Holllow / Bluffview areas you can't throw a rock without hitting a $1-10M home and folks who have seemingly unlimited disposable income. There is just SO much money there- people paying cash for $1M+ homes every day.

In CoCo there are some mega wealthy but it's mostly a conformist upper middle class area. Sure, there are some customers there but the thing is, whether they want to or not, they DO drive into Dallas for destination shopping like very upscale furniture. Those in Dallas won't ever drive to Legacy or whatever. Just won't.

[Johnhw2]

Originally Posted by primeexample

Thank you! Yes! Isn't that shopping center adorable? I actually was looking at the shops at legacy last year but I was so skeptical about the fact that now its full of restaurants and not much retail. However, they are trying bring in more retail from what I gather. I really just think these outdoor shopping centers have so much potential to be great if they can get in the right mix of tenants.

I think that huge retailer your talking about was Rob & Stucky. That entire company went bankrupt but I don't think it really had anything to do with legacy but because they weren't being managed properly. Now they have a Stacy's there and I believe they are on their way out too...

Stacy's is on the way out there, they signed a short term lease and the owner is tearing the store down to put an office building there. A Legacy like development is what is planned in The Colony by the NFM. The deveopment is 430 acres with a lake, they will put a 500k sf store along with an attached 1M SF warehouse but that leaves a huge development for complimentary commercial development.

Good luck with your location decision in Dallas area and keep us posted as you get up and running. Welcome to Tx

[primeexample]

Originally Posted by TurtleCreek80

I think the difference between in Dallas and the ex-burbs is that in the uptown / Lakewood/ park cities / Preston Holllow / Bluffview areas you can't throw a rock without hitting a $1-10M home and folks who have seemingly unlimited disposable income. There is just SO much money there- people paying cash for $1M+ homes every day.

In CoCo there are some mega wealthy but it's mostly a conformist upper middle class area. Sure, there are some customers there but the thing is, whether they want to or not, they DO drive into Dallas for destination shopping like very upscale furniture. Those in Dallas won't ever drive to Legacy or whatever. Just won't.

wow, I didn't even know about these areas having that kind of money/homes. Thank you. I'm going to take a look at lakewood and park cities.

I can see your point about CoCo. My goodness this is so hard. Perhaps this is why it has taken me a year to really finalize a space. There are so many factors to consider. In New York, its easy - Manhattan is where you want to be.

All of this information is so helpful. Thanks again.

[bencronin04]

Originally Posted by primeexample

wow, I didn't even know about these areas having that kind of money/homes. Thank you. I'm going to take a look at lakewood and park cities.

I can see your point about CoCo. My goodness this is so hard. Perhaps this is why it has taken me a year to really finalize a space. There are so many factors to consider. In New York, its easy - Manhattan is where you want to be.

All of this information is so helpful. Thanks again.

http://www.city-data.com/city/Highland-Park-Texas.html

[RonnieinDallas]

Originally Posted by TurtleCreek80

I think the difference between in Dallas and the ex-burbs is that in the uptown / Lakewood/ park cities / Preston Holllow / Bluffview areas you can't throw a rock without hitting a $1-10M home and folks who have seemingly unlimited disposable income. There is just SO much money there- people paying cash for $1M+ homes every day.

In CoCo there are some mega wealthy but it's mostly a conformist upper middle class area. Sure, there are some customers there but the thing is, whether they want to or not, they DO drive into Dallas for destination shopping like very upscale furniture. Those in Dallas won't ever drive to Legacy or whatever. Just won't.

I completely agree! The eccentric millionaires and design conscious yuppies of Dallas wouldn't be caught dead shopping at a faux urban strip mall in CoCo. The odds of finding clients who "get it" and will have the funds to purchase your products are astronomically higher in Dallas proper.

Op wish you the best of luck, your store sounds exciting. Many new retail locations going up in the design district. I would definitely drive around that area. The new restaurants and bars have added traffic/exposure and it's had tons of Media buzz in the last year.

http://www.nytimes.com/2012/04/22/us...-too.html?_r=0

New Dallas Design District project will bring more retail and residential space to growing neighborhood | Dallasnews.com - News for Dallas, Texas - The Dallas Morning News

Dallas Design District - You + Dallas

[TXNGL]

Originally Posted by primeexample

That matchy matchy probably only sells because the options in the northern suburbs are limited

I disagree, but hey, it's your store.

[bencronin04]

What is this CoCo I keep seeing?