Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Pennsylvania > Philadelphia
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 10-16-2023, 10:01 AM
 
Location: Philadelphia
1,697 posts, read 970,166 times
Reputation: 1318

Advertisements

Quote:
Originally Posted by mphilly View Post
That is really unfortunate. One step forward, one step back right now.
Two steps back.
Reply With Quote Quick reply to this message

 
Old 10-16-2023, 10:11 AM
 
Location: Boston Metrowest (via the Philly area)
7,268 posts, read 10,587,262 times
Reputation: 8823
Quote:
Originally Posted by Redddog View Post
Two steps back.
It's clear that urban retail is really trying to finds its next chapter, so it's in a holding pattern. Even so, commercial vacancy seems to be at least steady in Center City, if not very incrementally decreasing. The larger spaces are certainly tough to backfill--no doubt about it.

I think we need to see a lot more landlords begin to relent and reduce their rents to encourage more small business entrepreneurship in Center City.

It's the only way forward if so many chains are going to be so fickle and non-committal. In fact, it could really drive more inward wealth for the city. Time to start being much more creative and making more lemonade out lemons.
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 10:22 AM
 
Location: Philadelphia
1,697 posts, read 970,166 times
Reputation: 1318
Quote:
Originally Posted by Duderino View Post
It's clear that urban retail is really trying to finds its next chapter, so it's in a holding pattern. Even so, commercial vacancy seems to be at least steady in Center City, if not very incrementally decreasing. The larger spaces are certainly tough to backfill--no doubt about it.

I think we need to see a lot more landlords begin to relent and reduce their rents to encourage more small business entrepreneurship in Center City.

It's the only way forward if so many chains are going to be so fickle and non-committal. In fact, it could really drive more inward wealth for the city. Time to start being much more creative and making more lemonade out lemons.
It seems like landlords would much rather sit on a vacancy than commit to a lower rate for a long-term rental. It's amazing to me.
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 11:09 AM
 
Location: New York City
9,377 posts, read 9,323,920 times
Reputation: 6484
Quote:
Originally Posted by Duderino View Post
It's clear that urban retail is really trying to finds its next chapter, so it's in a holding pattern. Even so, commercial vacancy seems to be at least steady in Center City, if not very incrementally decreasing. The larger spaces are certainly tough to backfill--no doubt about it.

I think we need to see a lot more landlords begin to relent and reduce their rents to encourage more small business entrepreneurship in Center City.

It's the only way forward if so many chains are going to be so fickle and non-committal. In fact, it could really drive more inward wealth for the city. Time to start being much more creative and making more lemonade out lemons.
But still a blow to lose a retailer that has been open for almost 20 years, and will likely be replaced with a less desirable/useful retailer or another bar/game venue, and another big vacancy for a meh stretch of Chestnut. There aren't many home stores in Center City, just CB2 and the third floor of Macy's.

But if West Elm wants to be in Center City, they will find another store. But that is what everyone said about Williams Sonoma when it closed last year.

Last edited by cpomp; 10-16-2023 at 11:18 AM..
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 11:53 AM
 
Location: Philadelphia
1,697 posts, read 970,166 times
Reputation: 1318
Quote:
Originally Posted by cpomp View Post
But still a blow to lose a retailer that has been open for almost 20 years, and will likely be replaced with a less desirable/useful retailer or another bar/game venue, and another big vacancy for a meh stretch of Chestnut. There aren't many home stores in Center City, just CB2 and the third floor of Macy's.

But if West Elm wants to be in Center City, they will find another store. But that is what everyone said about Williams Sonoma when it closed last year.
I was in that Macy's this weekend. I give it maybe 2 more years before they announce that closing.
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 11:59 AM
 
386 posts, read 265,768 times
Reputation: 401
Quote:
Originally Posted by Redddog View Post
I was in that Macy's this weekend. I give it maybe 2 more years before they announce that closing.
Agreed, I’m already dreading the announcement and wall to wall coverage of the city being dead.
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 12:09 PM
 
Location: Boston Metrowest (via the Philly area)
7,268 posts, read 10,587,262 times
Reputation: 8823
Quote:
Originally Posted by cpomp View Post
But still a blow to lose a retailer that has been open for almost 20 years, and will likely be replaced with a less desirable/useful retailer or another bar/game venue, and another big vacancy for a meh stretch of Chestnut. There aren't many home stores in Center City, just CB2 and the third floor of Macy's.

But if West Elm wants to be in Center City, they will find another store. But that is what everyone said about Williams Sonoma when it closed last year.
I definitely understand what you're saying. It's the last thing Chestnut needs right now.

But I'm also just super perplexed by a potential closure of store like West Elm for a number of reasons: 1) I'm willing to bet office commuters/tourists were always a small fraction of its business, so it's not like having less of those folks around would've made a huge dent; 2) its products are large furnishings/home goods, so it's much less susceptible to retail theft; 3) residential population in Center City has only continued to increase. They need to fill their apartments/condos with something.

Are folks in Philly just overwhelmingly opting for online sales now, or heading to Ikea, for furniture? It just doesn't add up at all.

Last edited by Duderino; 10-16-2023 at 12:19 PM..
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 12:41 PM
 
Location: Philadelphia Pa
1,213 posts, read 954,485 times
Reputation: 1318
Quote:
Originally Posted by Duderino View Post
I definitely understand what you're saying. It's the last thing Chestnut needs right now.

But I'm also just super perplexed by a potential closure of store like West Elm for a number of reasons: 1) I'm willing to bet office commuters/tourists were always a small fraction of its business, so it's not like having less of those folks around would've made a huge dent; 2) its products are large furnishings/home goods, so it's much less susceptible to retail theft; 3) residential population in Center City has only continued to increase. They need to fill their apartments/condos with something.

Are folks in Philly just overwhelmingly opting for online sales now, or heading to Ikea, for furniture? It just doesn't add up at all.
People in general just order everything online and have it delivered now. I haven't stepped foot in a retail store for clothing or furniture or other household goods since before COVID and I think that's not unusual. I bought my first house bedroom set from that West Elm store, but that a long time ago and online ordering and shipping was nothing like it is today. The only stores I would even considering visiting at this point are Home Depot (obviously need tools and supplies for house projects and fixes) and Ikea (I can leave with a boxed couch or dresser or whatever it is I needed, and it will actually fit in my car since it's all deconstructed.

You can go to West Elm online, view a dozen pictures of the piece you are considering, get the exact dimensions and then google images of it and see what it actually looks in other peoples' homes. What do you need to go to West Elm in person for these days, or really any other store for that matter?
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 12:48 PM
 
Location: Philadelphia
471 posts, read 272,281 times
Reputation: 630
Quote:
Originally Posted by mphilly View Post
Agreed, I’m already dreading the announcement and wall to wall coverage of the city being dead.
Not that they have to stay open, but the Macy's lease does go through 2027 I believe. I know the retail landscape is changing but I had always heard this was one of their most profitable stores?

Maybe we can get a Wegman's like in Manhattan: https://www.wegmans.com/news-media/p...store-in-2023/
Reply With Quote Quick reply to this message
 
Old 10-16-2023, 01:49 PM
 
Location: Germantown, Philadelphia
14,147 posts, read 9,043,710 times
Reputation: 10491
Quote:
Originally Posted by JamesJay64 View Post
Not that they have to stay open, but the Macy's lease does go through 2027 I believe. I know the retail landscape is changing but I had always heard this was one of their most profitable stores?

Maybe we can get a Wegman's like in Manhattan: https://www.wegmans.com/news-media/p...store-in-2023/
My attitude on that subject is "Who needs Wegmans when you have the Reading Terminal Market?", but I'm also a former RTM poster boy (during a marketing campaign featuring faces of regular RTM shoppers in the mid-2000s).

Even so, a market like that tends to reduce the need for megastore supermarkets, no matter how dazzling. You can't get housewares, small appliances and domestics at the RTM, though, I will grant.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Pennsylvania > Philadelphia

All times are GMT -6. The time now is 03:44 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top