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Old 07-23-2013, 12:53 PM
 
Location: Beavercreek, OH
2,194 posts, read 3,827,653 times
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Austin Landing Welcomes Four New Tenants
Quote:
Austin Landing, near the new interchange of Interstate 75 and Austin Boulevard, is welcoming four new companies, the site’s developer said Tuesday. All four signed leases for space at 10100 Innovation Drive, a four-story office building at Austin Landing.

“Austin Landing is becoming the technology and financial services nerve center of the region,” Greg Prince, RG’s director of office leasing, said in the company’s announcement. “Companies are finding that Austin Landing offers access to employees from both Dayton and Cincinnati.”
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Old 07-26-2013, 12:29 PM
 
Location: NKY's Campbell Co.
2,107 posts, read 5,055,529 times
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Big news (and move) by Fairfield Commons. This is certainly a shot-in-the-arm that is needed to compete with The Greene. H&M should be a big draw.

Exclusive: Retailer plans first Dayton-area store - Dayton Business Journal
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Old 07-26-2013, 01:38 PM
 
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That is great news!

Actually the news made me interested in occupancy of our three area malls. I was kinda surprised to see that Fairfield Commons had the highest vacancy. Also had the most "no name" stores, although a fair number of the no-names are nicer independent stores like Occasionally Yours. But all three are looking healthy now - I guess our regional deal malls are Cincy mills and Towne Mall in Middletown. Hopefully we have a nice equilibrium that will last for years to come.

Maybe the new bus route will bring in some more customers for Fairfield Commons haha. The two area malls with bus stops seem to be doing slightly better.
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Old 07-26-2013, 01:59 PM
 
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Other good news:

Goodwill Easter Seals to break ground on new building | www.daytondailynews.com


Sent from my iPhone
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Old 07-26-2013, 02:23 PM
 
Location: NKY's Campbell Co.
2,107 posts, read 5,055,529 times
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Quote:
Originally Posted by OHKID View Post
That is great news!

Actually the news made me interested in occupancy of our three area malls. I was kinda surprised to see that Fairfield Commons had the highest vacancy. Also had the most "no name" stores, although a fair number of the no-names are nicer independent stores like Occasionally Yours. But all three are looking healthy now - I guess our regional deal malls are Cincy mills and Towne Mall in Middletown. Hopefully we have a nice equilibrium that will last for years to come.
Warning, long retail analysis/rant:

Yeah, I follow the local (and even Cincinnati and Columbus to a lesser extent) retail scene, especially in shopping malls and centers. Fairfield has been struggling of sorts since The Greene opened in 2006 and then the height of the recession a few years later (2008-2009). As I have mentioned in other threads, the mall lost a number of high-end tenents to moves (mostly to The Greene). The one I wish had moved to The Greene, but left the market entirely, was J.Crew.

More recent (last year or two) departures from Fairfield have included a huge space (since filled) left by The Gap and its Kids, Baby, and Body stores. Also, New York and Co. and Express. The Limited is one in which I am surprised stayed. It will be interesting to see what A&F does as I am not sure if they are still closing stores through 2015. Even with the rebound in the economy, their stores have not turned around as nicely. It's the only local store (Dayton region), so that may be going for it.

The mall was heavily ladened with Limited Brand stores (B&BW, White Barn, Express, Lerners/NY&Co, Express/Structure/ExpressMens, The Limited, LimitedToo/Justice, A&F, Abercrombie, Victoria Secrets, etc). Since Limited has virtually divested itself of all except Bath & Body Works and VS, there isn't as much loyalty of all stores to one particular mall.

Funny side note, Polaris (also a Glimcher property, and probably their signature center) for years was absent any Limited Brands stores because Wexner (Limtied Brands' founder) was key to Columbus' other rich mega-center, Easton. That eventually was resolved, probably because Wexner was divesting and also saw lost profits.

I've always been surprised H&M lacked a second store in SW Ohio (granted, the "other" Cincy area store is in Northern KY). Cleveland has three (maybe four now?), Columbus has two and I am pretty sure Toledo has one.

As far as recent move-ins to Fairfield, there is P.S. by Aeropostale, which is a growing brand for younger kids (think pre-teen); Crazy 8 (elementary age, owned by Gymboree); Maurice's (lower-price point young women's retailer); Footlocker (remodal and large expansion from previous store); Build-a-Bear (which has been there for years now, but is undergoing a major facelift, part of a corporate store update process, and is the second of its kind in Ohio, after Easton's new store). Coupled with B&BW's remodel and H&M's investment, hopefully other stores will be looking into remodals. I am thinking Lane Bryant (also former Limited Brands), Wet Seal, Victoria Secrets, Spencer's, Payless, Gymboree, Shoe Dept., A&E, etc.

I am betting they are eyeing the space that was formerly Express and Express Mens. T-Shirt Facorty (one of those "indepenent" stores) was moved into the old Footlocker location recently, probably because they are going to move H&M into their "temp" space, which was the former Express Mens.

One last note: The Parmida furniture store seems to be discounting everything, and my guess is going out of business. Their emails are pointing to a number (though not all) of their stores having 80% markdowns and final sales. This may acutally play well for The Greene, because that is a highly visible corner spot across from Von Maur (which has done exceptionally well, even by my expectations). Perhaps with the opening of that large corner space, plus the last large, non-built space between Parmida and Gap, they will bring in another major retail player. Steiner has always pushed for that side of The Greene to be more fasion retail oriented (see by the presence of Gap, Limited, Express/Mens, CC, Old Navy).
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Old 07-26-2013, 02:28 PM
 
Location: NKY's Campbell Co.
2,107 posts, read 5,055,529 times
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One last thought, I promise.

It will be interesting to see what the 1+ million sqft Liberty Center (a Steiner project too) does to the retail center of Dayton Mall. I envision many Springboro, Waynesville, and Lebanon area residents who may drive to the Dayton Mall to begin frequenting this new Easton Center size project once it opens. If anyone can do a project of that vision and size right, it is Steiner.

There.
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Old 07-26-2013, 07:18 PM
 
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Interesting stuff, wrightflyer!

I didn't realize the Gap left or that the A&F store there was the only one around Dayton. Very interesting... A&F seems to have a loyal following around Dayton, but Dayton's fashion is always a few years behind the trends. At my college (which is widely known for its fashion/preppiness), no one would be caught dead wearing A&F - even though they hire a lot of our grads. I have never liked A&F because I think their environmental policy and general image are deplorable, but it was definitely popular at my high school back in the day. Glad to see they will be getting some decent competition from H&M.


T-Shirt Factory... so it is one of those lower-grade stores? The name makes it sound that way, but I wasn't sure. That's the downside of encouraging independents - you can either get excellence or trash. Too bad it's the latter. They probably have a branch at Towne Mall too haha. But it also doesn't sound like it will last long, because where would their market be? Beavercreek is not 'hood.


I wonder what it takes to get a lululemon, Lacoste, or North Face store? None have a large footprint, which is good since the mall has almost no large footprint spaces (which is why I suspect Forever XXI never came to the mall). I imagine any of the three would fit in well at the mall, but I know their site selection requirements are stringent. Even a independent Pilates studio or something of that nature would be good for taking the mall back to a more up-market position and could help land a high-profile tenant.

Getting H&M is great news though, definitely the type of high-profile tenant the mall needs!
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Old 07-26-2013, 07:32 PM
 
3,513 posts, read 5,124,978 times
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Quote:
Originally Posted by wrightflyer View Post
One last thought, I promise.

It will be interesting to see what the 1+ million sqft Liberty Center (a Steiner project too) does to the retail center of Dayton Mall. I envision many Springboro, Waynesville, and Lebanon area residents who may drive to the Dayton Mall to begin frequenting this new Easton Center size project once it opens. If anyone can do a project of that vision and size right, it is Steiner.

There.
Ah yes, the Liberty Center. I'm not happy about it, but it was bound to happen sooner or later. That particular area could have supported another mall over a decade ago (back when Mills was proposing a mall close to the rest area off I-75 by Kyles Station Rd. and Butler-Warren Rd.), and it will support it well now.

I'm not sure if it will have much of an impact on Dayton Mall. I am sure it will have an impact of some sort, but they seem to be trying to make it more "upper-class" a la the Greene or Easton. It will probably be the nail in the coffin for Tri-County (which is close to its last leg anyways), as I assume their Dillard's will be re-located up there. And I can see it causing a lot of problems for Kenwood too.


What really interests me about the Liberty Center is the third tenant (the other two major tenants are Dillard's and a high-end movie theater). I wondering if they will be able to land a high-profile anchor like Neiman Marcus or Bloomingdale's (which is what I assume they are trying to do).

Otherwise I assume they will try to sway Macy's away from Tri-County too. Personally, I'd like to see an Elder-Beerman there, but probably pigs will fly first. I don't see Elder-Beerman doing any new construction or expansion anytime soon, despite the fact that their strip-center format like they have in Huber or Kettering seems to do well and compete effectively against Kohl's.
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Old 07-26-2013, 08:46 PM
 
Location: NKY's Campbell Co.
2,107 posts, read 5,055,529 times
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The third tenant won't be large, so I doubt Macy's. I've heard numbers in the 75K to 125K range. It could vary though still. Saks might opt to relocate from downtown which I hope doesn't happen, but it may. Otherwise, I expect in this order, Bloomingdales (surprised there isn't one considering they are Macy's owned), Saks, Von Maur, and finally Neiman.
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Old 07-26-2013, 09:33 PM
 
3,513 posts, read 5,124,978 times
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I think Macy's footprint is roughly 125k sq.ft. at Fairfield Commons?

Cincinnati has Saks locked into downtown through 2017(?) if I remember correctly through a tax incentive deal. I guess it would be possible, but downtown Cincy is starting to pick up nicely now with OTR coming online quickly. And I doubt many of the people in Indian Hill, Hyde Park, or Mt. Adams are going to want to drive all the way out to the Liberty development to get their Saks items.

True about Bloomingdales, interesting there is none in the area with Macy's HQ here. But I don't see Von Maur there because it seems like that would cannibalize a lot of their clientele from the Greene. So lets hope it's Bloomingdales! (Actually, I'm still hoping for Elder-Beerman...)
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