Retail coming to Philadelphia (King of Prussia, Lincoln: grocer, gyms, recycle)

[RightonWalnut]

Originally Posted by cpomp

CCD Report: Millennials Help Spur Strong Retail Growth | News | Philadelphia Magazine


This kind of makes me laugh, if the demand is so hot, why did AT&T, Verizon, AC Moore and Wawa take up prime spaces, and there are at least a dozen vacant storefronts between Chestnut and Walnut...


I'm sure I will get backlash from some of you, but when I see phillymag put out articles like this, I think its bogus, but maybe good for marketing? The stats of a growing more educated population are true, but I would hardly call Philadelphia's retail scene "hot"
Only one area in region is hot with retail, but I won't name it since I post about it all the time.

Except the city is hot for retail right now. The biggest problem is City Council lifted the ban on cell phone stores and banks that was placed on Walnut Street a few years back. I have no idea why...

Big companies like Verizon and AT&T and Santander will be able to outbid any retail clothing store... which is unfortunate. And landlords and commercial real estate agents don't care what retailer goes in these spots, so long as they are the ones paying the most money, getting them the highest commission checks, and giving developers/landlords the highest return on their investment.

I know for a fact that Santander outbid Marc Jacobs for a spot in the Icon building on the 1600 block of Walnut. Then Marc Jacobs was outbid by Lululemon on the 1700 block of Walnut.

Still, look at all of the positive momentum and retailers Philly has added over the past few years from Stuart Weitzman, Allen Edmonds, Nordstrom Rack, Uniqlo, Pandora, Theory, Rag & Bone, etc. etc. Keep thinking positively! More are coming. I'm already hearing a Burberry, Tory Burch outlet and Primark, etc. in Fashion Outlets of Philadelphia. They're shooting for pretty high end here.

[cpomp]

Originally Posted by RightonWalnut

Except the city is hot for retail right now. The biggest problem is City Council lifted the ban on cell phone stores and banks that was placed on Walnut Street a few years back. I have no idea why...

Big companies like Verizon and AT&T and Santander will be able to outbid any retail clothing store... which is unfortunate. And landlords and commercial real estate agents don't care what retailer goes in these spots, so long as they are the ones paying the most money, getting them the highest commission checks, and giving developers/landlords the highest return on their investment.

I know for a fact that Santander outbid Marc Jacobs for a spot in the Icon building on the 1600 block of Walnut. Then Marc Jacobs was outbid by Lululemon on the 1700 block of Walnut.

Still, look at all of the positive momentum and retailers Philly has added over the past few years from Stuart Weitzman, Allen Edmonds, Nordstrom Rack, Uniqlo, Pandora, Theory, Rag & Bone, etc. etc. Keep thinking positively! More are coming. I'm already hearing a Burberry, Tory Burch outlet and Primark, etc. in Fashion Outlets of Philadelphia. They're shooting for pretty high end here.

I wonder if the city did that as an attempt to spur momentum on the corridor. There have been some good additions yes, but that's only a handful of places over what a 5 year period? KoP area has gotten over 100 new national retailers in a shorter period of time.


And of course now living in NYC, when you have literally everything at your fingertips, it makes me annoyed and hopefully at the same time for Philadelphia.

[RightonWalnut]

Originally Posted by cpomp

I wonder if the city did that as an attempt to spur momentum on the corridor. There have been some good additions yes, but that's only a handful of places over what a 5 year period? KoP area has gotten over 100 new national retailers in a shorter period of time.


And of course now living in NYC, when you have literally everything at your fingertips, it makes me annoyed and hopefully at the same time for Philadelphia.

King of Prussia is already a proven hot spot for retailers. It's also within one of the wealthiest sections of the country - the Main Line. It's also as of now, the largest mall in the country. Luxury retailers are already there, so it just draws more in.

Center City and the surrounding area is still on the come-up in wealth. It is starting to attract more tourists as well. The retail scene is improving, but it will be some time for the market to build up and for stores like Gucci, Tory Burch, Louis Vuitton, etc. to start seriously considering Center City. It will happen though should things continue on this path.

[cpomp]

City Fitness Announces Opening Date for Shiny New Fishtown Gym | Be Well Philly


More gym news, fitphilly.

[kyb01]

Originally Posted by cpomp

CCD Report: Millennials Help Spur Strong Retail Growth | News | Philadelphia Magazine


This kind of makes me laugh, if the demand is so hot, why did AT&T, Verizon, AC Moore and Wawa take up prime spaces, and there are at least a dozen vacant storefronts between Chestnut and Walnut...


I'm sure I will get backlash from some of you, but when I see phillymag put out articles like this, I think its bogus, but maybe good for marketing? The stats of a growing more educated population are true, but I would hardly call Philadelphia's retail scene "hot"
Only one area in region is hot with retail, but I won't name it since I post about it all the time.

You won't get backlash from me. I agree with you. Enough Wawas already. Another one is going into the old I Goldberg space at 13th and Chestnut, right?

[kyb01]

Originally Posted by cpomp

I wonder if the city did that as an attempt to spur momentum on the corridor. There have been some good additions yes, but that's only a handful of places over what a 5 year period? KoP area has gotten over 100 new national retailers in a shorter period of time.


And of course now living in NYC, when you have literally everything at your fingertips, it makes me annoyed and hopefully at the same time for Philadelphia.

It's not useful to even try bring NY into this discussion.

[kyb01]

Originally Posted by RightonWalnut

King of Prussia is already a proven hot spot for retailers. It's also within one of the wealthiest sections of the country - the Main Line. It's also as of now, the largest mall in the country. Luxury retailers are already there, so it just draws more in.

Center City and the surrounding area is still on the come-up in wealth. It is starting to attract more tourists as well. The retail scene is improving, but it will be some time for the market to build up and for stores like Gucci, Tory Burch, Louis Vuitton, etc. to start seriously considering Center City. It will happen though should things continue on this path.

No, it won't.

[RightonWalnut]

Originally Posted by kyb01

No, it won't.

What won't? Damn you are one negative person.

[southbound_295]

I'm not now, nor have I ever been impressed with the upscale stores.

Here's how I see it. The more that city residents can do their shopping in town, rather than the burbs, the more desirable commercial real estate becomes. That means mom & pop stores, specialty shops, and stores aimed at all income levels. That also means commuters, students, people with kids, and any group that you can think of should be targets.

When most city residents are doing most of their shopping in Center City the upscale stores will start looking there with more frequency.

[kyb01]

Originally Posted by RightonWalnut

What won't? Damn you are one negative person.

If I was truly as negative as you, for some reason seem to believe, I would have left this city before you were even born. But, I did not! I've CHOSEN to live in the city where I was born. I will never leave here when I could live, or move to, just about anywhere.

No one here, who has seen all the positive changes that have happened in the last 25 years or so, could be more thrilled than
I am about those changes.

But, on the other I may be more realistic than you. That's not being negative that's seeing world as it really is.

We have way too much poverty in this city. High end retailers will, absolutely, factor that into any evaluation they make about store placement even in Center City.