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Old 05-01-2015, 04:46 PM
 
Location: Germantown, Philadelphia
14,395 posts, read 9,315,512 times
Reputation: 10712

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Quote:
Originally Posted by asiandudeyo View Post
I am not angry about the cheesecake. I am angry that Verizon occupying the first floor.
I love Cheesecake Factory!
If anything, I agree with your assessment.
In addition to tourists, there are alot of Philadelphians who actually love CF. Alot of them have to go to Willow Grove to get their fix. Having CF closer to home means that they do not have to go all the way to Willow Grove.
When I came to Philly 5 years ago, I was not familiar with the local eateries. Therefore I resorted to national brands to eat, which I am used to back home, such as Chipotle. (I don't cook due to my lack of skills in that dept. LOL). I can see myself going to CF if I actually just moved here say this June.
It is the same with my family and friends. When they came to visit me in Philly, not all of them are comfortable to try something new. (Not everybody is foodie). We usually ended up in TGI Friday or Panera Bread.
I consider that a sad commentary on the adventurousness of American diners. It's like investing: No risk, no reward.

But I understand the desire for familiarity and no surprises. My first opinion essay for The Philadelphia Inquirer was a defense of the chain restaurants that had begun to set up shop in Center City; I said that the city's restaurant scene is strong enough that the chains wouldn't put a dent in it. Time, I think, has proved me right, and eventually many chain diners do venture beyond their comfort zones.
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Old 05-01-2015, 05:40 PM
 
28 posts, read 28,560 times
Reputation: 12
You guys realize developers don't care about making people happy. They care about cap rates to make money. Get out of your dreamland where they can bring everyone in for pennies on the dollar.
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Old 05-01-2015, 05:42 PM
 
28 posts, read 28,560 times
Reputation: 12
Quote:
Originally Posted by asiandudeyo View Post
I agree.
Although there is still one small spot in the first floor aside of Verizon.
Not so prime of real estate like what you said!

I can see the slogan now: "Let's go to the prime Philadelphia's shopping street. You can shop phones from different providers in one spot! You have T mobile, Spring, At & T and Verizon all in one spot!"
Grrrrr
If Verizon wants 10,000sf and will pay $75 PSF or Hugo Boss wants it and will pay $45 PSF. Who do you think the LL is going to go with? Y
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Old 05-01-2015, 06:23 PM
 
Location: NYC based - Used to Live in Philly - Transplant from Miami
2,307 posts, read 2,781,820 times
Reputation: 2610
Quote:
Originally Posted by 76ersgomccoygo View Post
If Verizon wants 10,000sf and will pay $75 PSF or Hugo Boss wants it and will pay $45 PSF. Who do you think the LL is going to go with? Y
Of course it is Verizon. And I agree.
But this is again shows how retailers does not think "too highly" about Philadelphians.
Do you think Hugo Boss has the money to pay as much as Verizon? Yes I think so.
But probably in their "assessment" (I put it in quotation because I think they are wrong. By "they", I mean lots of retailers), opening a store in Philadelphia will not be beneficial.
THIS is what I lament the most.

For the rest of the guys who know me, sorry if I bring up Miami again. Coming from Miami, we (well actually "they" since I am Philadelphian now) even have the same upscale retailers within walking distance. Why do they want to do that if they know they won't make profits?
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Old 05-02-2015, 06:48 AM
 
10,787 posts, read 8,827,312 times
Reputation: 3984
Quote:
Originally Posted by asiandudeyo View Post
Of course it is Verizon. And I agree.
But this is again shows how retailers does not think "too highly" about Philadelphians.
Do you think Hugo Boss has the money to pay as much as Verizon? Yes I think so.
But probably in their "assessment" (I put it in quotation because I think they are wrong. By "they", I mean lots of retailers), opening a store in Philadelphia will not be beneficial.
THIS is what I lament the most.

For the rest of the guys who know me, sorry if I bring up Miami again. Coming from Miami, we (well actually "they" since I am Philadelphian now) even have the same upscale retailers within walking distance. Why do they want to do that if they know they won't make profits?
How many times must it be said that the reason these retailers do what they continue to do, even if they are aware of the surge in CC, is because KOP is known to them. KOP already has high end retail that's proven. It's easy for them to just use it as a default. To them KOP is the "Philadelphia" location.
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Old 05-02-2015, 07:17 AM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,864,325 times
Reputation: 10258
Quote:
Originally Posted by kyb01 View Post
How many times must it be said that the reason these retailers do what they continue to do, even if they are aware of the surge in CC, is because KOP is known to them. KOP already has high end retail that's proven. It's easy for them to just use it as a default. To them KOP is the "Philadelphia" location.
I suspect that retailers frequently picking King of Prussia over Center City boils down to ignorance of the area & geography in general. They are aiming for money on the Main Line. They are writing off or ignorant of money in the city & South Jersey.

Since KOP went upscale I have known of people who could afford to shop in those stores who deliberately avoid them because they live in the city or South Jersey & their attitude is that those stores don't want their business because of the location. it's pretty simple. People in Haddonfield or Moorestown don't want to go to King of Prussia, but they would go to Center City.
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Old 05-02-2015, 10:42 AM
 
28 posts, read 28,560 times
Reputation: 12
Quote:
Originally Posted by asiandudeyo View Post
Of course it is Verizon. And I agree.
But this is again shows how retailers does not think "too highly" about Philadelphians.
Do you think Hugo Boss has the money to pay as much as Verizon? Yes I think so.
But probably in their "assessment" (I put it in quotation because I think they are wrong. By "they", I mean lots of retailers), opening a store in Philadelphia will not be beneficial.
THIS is what I lament the most.

For the rest of the guys who know me, sorry if I bring up Miami again. Coming from Miami, we (well actually "they" since I am Philadelphian now) even have the same upscale retailers within walking distance. Why do they want to do that if they know they won't make profits?
History has shown high end retailers haven't succeeded and closed up shop. Why would they pay high rent and come in?
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Old 05-02-2015, 10:48 AM
 
Location: The place where the road & the sky collide
23,816 posts, read 34,864,325 times
Reputation: 10258
Quote:
Originally Posted by 76ersgomccoygo View Post
History has shown high end retailers haven't succeeded and closed up shop. Why would they pay high rent and come in?
I remember high end on Chestnut St, west of Broad, & the rest on Market & Chestnut, east of Broad. A lot of the upscale that left Chestnut St., years ago, were retailers that went out of business during a couple of bad recessions.
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Old 05-02-2015, 11:01 AM
 
Location: NYC based - Used to Live in Philly - Transplant from Miami
2,307 posts, read 2,781,820 times
Reputation: 2610
Quote:
Originally Posted by 76ersgomccoygo View Post
History has shown high end retailers haven't succeeded and closed up shop. Why would they pay high rent and come in?
I would disagree with that.
If the company is revamping and changing the direction where it is going, yes. COACH is one of the example. Michael Kors will follow suit in several years.
But per my experience, they are opening new and new stores.
Good example will be the new Tom Ford store in Miami.
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Old 05-02-2015, 11:09 AM
 
Location: NYC based - Used to Live in Philly - Transplant from Miami
2,307 posts, read 2,781,820 times
Reputation: 2610
Quote:
Originally Posted by kyb01 View Post
How many times must it be said that the reason these retailers do what they continue to do, even if they are aware of the surge in CC, is because KOP is known to them. KOP already has high end retail that's proven. It's easy for them to just use it as a default. To them KOP is the "Philadelphia" location.
I agree with you. But also it shows that retailers think PA only need one high-end / middle class shopping destination. It translates that they feel that people in PA do not have the buying power. Either that or the proximity to Manhattan makes them think twice to open a store down in PA.
Again in Miami, they have several shopping districts with luxury retailer:
1. Design District: Louboutin, Tom Ford, Burberry, Hermes, Dior, Gucci, Rick Owens, etc.
2. Aventura Mall: Burberry, Diesel, AllSaints, Gucci, Louis Vuitton, etc.
3. Lincon Road + Collins Ave.
4. Merrick PArk.
In addition, stores that are consider "high -end" in Walnut are staples stores in regular Miami malls (Dadeland, etc). Armani Exchange is one of them.

So for example, Miami as the city herself has 3 Burberry (although only one has the Prorsum line), why the whole entire PA state has only ONE Burberry?

Anyway, I am so tired talking about this thing LOL. At the end, we commoners can only argue so much. At the end, the 1% is in charge of everything.
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