OK we know the residential market is hurtin right now but... (Scottsdale: transplants, real estate market)

[dc1225]

what about commercial real estate? Have the comm. real estate market been hit as hard as well? rental and buying?

Can someone in the know fill me in? I'd presume yes but nowhere nearly as hard as residential. Is it good time right now for someone looking to open up a new biz looking to rent comm. space?

Thanks.

[MotleyCrew]

What kind of business? New commercial projects have slowed way down due to lack of financing. I think rents are steady, but you may find some lowering their rates a little to get the spaces filled. Where are you thinking of opening a business?

[dc1225]

Originally Posted by MotleyCrew

What kind of business? New commercial projects have slowed way down due to lack of financing. I think rents are steady, but you may find some lowering their rates a little to get the spaces filled. Where are you thinking of opening a business?

Restaurant, Scottsdale and not a chain either

[43north87west]

Originally Posted by A2M69

Restaurant, Scottsdale and not a chain either

Please hurry! The valley needs another chain restaurant like it needs another real estate "owner-agent".

Also, you can use this site for advertising, at least real estate agents can. I wonder if the same goes for restauranteurs?

IMO, there are a lot of good restaurants in the valley, but there are a lot of crap restaurants too. I'm convinced that you could open a restaurant, put in a lovely parking-lot-view "outdoor dining" area so that people can admire their pickups from afar, and serve Fried Turd. And you'd still have some business, as long as the price was not too outrageous, and maybe throw in a drink special or two.

What I'm trying to say is, if you have good food and a decent location, I can't imagine a much better place to open a restaurant that isn't a chain. As long as you can get the traffic in the door.

[sablebaby]

There are numerous open retail spaces due to businesses going out. There are entire properties that are vacant due to loss of funding. It's quite sad to watch.

But, I think Scottsdale is still holding on. There are some people who can still afford to eat out often. Thank goodness for them!

[ZonyPony]

Originally Posted by A2M69

Restaurant, Scottsdale and not a chain either

Oh, no...

Not another sushi bar?


............:::::::::::::::bleccccccchhhhh:::::::: :::::::...........


Sorry!

[dc1225]

Originally Posted by 43north87west

Please hurry! The valley needs another chain restaurant like it needs another real estate "owner-agent".

Also, you can use this site for advertising, at least real estate agents can. I wonder if the same goes for restauranteurs?

IMO, there are a lot of good restaurants in the valley, but there are a lot of crap restaurants too. I'm convinced that you could open a restaurant, put in a lovely parking-lot-view "outdoor dining" area so that people can admire their pickups from afar, and serve Fried Turd. And you'd still have some business, as long as the price was not too outrageous, and maybe throw in a drink special or two.

What I'm trying to say is, if you have good food and a decent location, I can't imagine a much better place to open a restaurant that isn't a chain. As long as you can get the traffic in the door.

Precisely! I know all this...We have one in Chicago already, concept has been proven and food is excellent and we have numerous return customers that well, actually return! I just need to convince certain someone....as much as I'd like to, these things take time! I'd love to come open one up tomorrow but the person has ties to Chicago so it'd be easier to open one up here. But we shall see!

[dc1225]

Originally Posted by ZonyPony

Oh, no...

Not another sushi bar?


............:::::::::::::::bleccccccchhhhh:::::::: :::::::...........


Sorry!

Zony, If it happens, I'll personally force live sea urchin down your throat and It'll melt in your mouth!

Just promise to throw up after you leave the restaurant premises, k?

[dc1225]

Originally Posted by sablebaby

There are numerous open retail spaces due to businesses going out. There are entire properties that are vacant due to loss of funding. It's quite sad to watch.

But, I think Scottsdale is still holding on. There are some people who can still afford to eat out often. Thank goodness for them!

Well, that's good to hear! Where can I find some of these spaces?

Yeah, I am thinking that Scottsdale/Paradise Valley are somewhat obscured from what's going on with the market and economy. Like in Chicago, people are still visiting, going out to eat, club, etc....but not as much in the burbs!

We have a core following group that is probably over 30 in age, with family and enjoy going out to eat on a weekly basis(I guess what I'd call foodies), our place or not they are going to spend that money to go out to eat regardless of market, economy, etc...

I am thinking that Scottsdale area is bit of the same as we will not be catering to the club crowd but rather family oriented with good sushi along with contemporary kitchen food(not RA, not benihana), and at the same time educating the customers along the way, the one's that care to be educated anyways! We are customer oriented and the chef is focused on giving people what they want and at the same time letting them try something new that they never thought they would've liked, etc....we try not to force anything to the customer, not re-inventing the wheel but definitely encourage trying new things but at the same time offering them what they already like. There def. is a feeling out process but since I have had only limited time in Scottsdale, I have a firm idea and confidence in our concept that it will work there, not to mention that it helps that there are plenty of Chicago and New York City transplants as we are well liked by them! But there are still long ways to go, we'll see what happens!

[sablebaby]

Originally Posted by A2M69

Well, that's good to hear! Where can I find some of these spaces?

Yeah, I am thinking that Scottsdale/Paradise Valley are somewhat obscured from what's going on with the market and economy. Like in Chicago, people are still visiting, going out to eat, club, etc....but not as much in the burbs!

We have a core following group that is probably over 30 in age, with family and enjoy going out to eat on a weekly basis(I guess what I'd call foodies), our place or not they are going to spend that money to go out to eat regardless of market, economy, etc...

I am thinking that Scottsdale area is bit of the same as we will not be catering to the club crowd but rather family oriented with good sushi along with contemporary kitchen food(not RA, not benihana), and at the same time educating the customers along the way, the one's that care to be educated anyways! We are customer oriented and the chef is focused on giving people what they want and at the same time letting them try something new that they never thought they would've liked, etc....we try not to force anything to the customer, not re-inventing the wheel but definitely encourage trying new things but at the same time offering them what they already like. There def. is a feeling out process but since I have had only limited time in Scottsdale, I have a firm idea and confidence in our concept that it will work there, not to mention that it helps that there are plenty of Chicago and New York City transplants as we are well liked by them! But there are still long ways to go, we'll see what happens!

How much do you want to spend on rent?? Typically, a nice space will cost $36 ($3)/sf, or more probably in the higher end areas that you are interested in ($4?).

Google some of our major com prop companies. There's Zell, De Rito, dang, now I can't think of many.