The Pinnacle in Bristol, TN (Johnson City, Kingsport: real estate market, apartment complex, subdivision)

[Serious Conversation]

Originally Posted by sprintuser2014

Just announced on the news tonight. Best Buy is coming to The Pinnacle.

My guess is both the existing Kingsport and Bristol, VA stores will be folded into this. I'd love for them to go more upscale with their Magnolia line.

[jjbradleynyc]

Originally Posted by Serious Conversation

My guess is both the existing Kingsport and Bristol, VA stores will be folded into this. I'd love for them to go more upscale with their Magnolia line.

You think Kingsport will close too? I'd be surprised if that happened, but in this retail day and age, stores in even excellent, high-trafficked/big city locations can close often.

The competition is fierce in retail and having 2 Best Buys in Sullivan County about 20-25 min apart may not make sense. However, the Bristol one will draw folks from SW Virginia too, whereas Kingsport's will draw from west Sullivan and Kingsport, as well as Hawkins Counties.

Be interesting to see what happens.

[rccrain]

It will also be interesting to see what happens in Boones Creek in the next 3-5 years.

[sprintuser2014]

Originally Posted by Serious Conversation

My guess is both the existing Kingsport and Bristol, VA stores will be folded into this. I'd love for them to go more upscale with their Magnolia line.

I doubt they will close the Kingsport store considering Best Buy's sales are quite high now and they are killing it. The exit 7 store though will for sure close and be replaced by this larger Best Buy at the Pinnacle. That Exit 7 Best Buy was always too small and that shopping center is in an odd spot. So this move makes sense for the company.

[sprintuser2014]

Originally Posted by jjbradleynyc

You think Kingsport will close too? I'd be surprised if that happened, but in this retail day and age, stores in even excellent, high-trafficked/big city locations can close often.

The competition is fierce in retail and having 2 Best Buys in Sullivan County about 20-25 min apart may not make sense. However, the Bristol one will draw folks from SW Virginia too, whereas Kingsport's will draw from west Sullivan and Kingsport, as well as Hawkins Counties.

Be interesting to see what happens.

No, I don't see Kingsport closing. That store does well. Plus Best Buy is actually opening new stores now and relocating others. They aren't really closing stores. They are one of the few retailers now riding an actual high on retail.

[Serious Conversation]

Originally Posted by sprintuser2014

I doubt they will close the Kingsport store considering Best Buy's sales are quite high now and they are killing it. The exit 7 store though will for sure close and be replaced by this larger Best Buy at the Pinnacle. That Exit 7 Best Buy was always too small and that shopping center is in an odd spot. So this move makes sense for the company.

Best Buy is doing well and I agree the exit 7 store itself was small. With that said, the VA sales tax advantages will generate some additional sales from Tennessee buyers they might not natively have.

I bought a top end iMac in Bristol, VA last Memorial Day weekend. Bristol, VA had some iMac sale going where $200 was knocked off the sticker price. The sales tax savings between VA and TN on that $2000 iMac was roughly $100. I put that big box in the back of the Jeep and hauled it back over the state line.

Most of my alcohol, Sam's Club, and "big runs" are done in Bristol, VA. I always stop by Studio Brew on those big runs, but I'd find a bar anyway. I save a good bit on tax there, and hate to lose BB in that regard.

[Serious Conversation]

https://www.heraldcourier.com/news/l...fc2d35161.html

Best Buy has confirmed the new store at The Pinnacle. The existing stores in Kingsport and Bristol, VA will close.

[sprintuser2014]

I admit I'm surprised but logically it makes sense. The new Pinnacle is halfway between and the new Best Buy will be larger than the two current stores. Still it sucks that Kingsport has lost another business to The Pinnacle. Kingsport's retail market is dying!

[rccrain]

And to think that everything at the Pinnacle (and more) could be at TriCities Crossing, if not for Kingsport's own stupidity.

[Serious Conversation]

I forgot about this, but I saw on Facebook where Old Navy left The Pavilion to go to The Pinnacle. While that sucks, I think Burke's opened in its place. Losing a store like Old Navy is bad, but survivable for a shopping complex.

Best Buy, along with Target, are the two anchors of The Pavilion. Losing an anchor is huge.

At this point, I'm beginning to wonder if Target will follow suit, and fold the Kingsport, and Bristol, VA stores into a Super Target at The Pinnacle. That would at least be something the area doesn't currently have instead of just reshuffling existing chains. This could be a key component of the Phase 2 expansion at The Pinnacle. I'd also like to know what the loss of Best Buy will have on the Phase 2 expansion of The Pavilion.