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A yogurt shop and "few" restaurants do not make a successful shopping center. I've been there (weekly) for whole foods and compared to north hills and even cross roads it is lacking in everything.
Exactly. I go over there regularly for Whole Foods and Elegant Stitches. Frozen yogurt and a nail salon aren't going to pull people in that don't already go in there. They need shops that are unique to the area, not all over town.
I am not saying that it is "thriving" but it is not a "run-down" place that some of the posters have made it out to be. They have spent 10s of millions in completely renovating the place. What is missing are the shops to finish filling out the place. I too hope that they are "unique" shops.
They are at a distinct disadvantage over new shopping places (like North Hills) because retailers dont want to move into a place that is half full. When you build from the ground up you can sign all your leases so that when you open you are 75 to 100 full. It is indeed a challenge for them. I would recommend that they give quality tenants a year of free rent just to get them all in there.
North Hills mall was essentially demolished and North Hills as we know it today was built from the ground up. During those 3 years of planning and building they were able to sign on all their tenants so it would open full. Waverly Place does not have that benefit. No tenant wants to move into a place that is 25% full. Its a catch 22 they are in. I am just curious what sort of incentives they are giving quality tenants to move there because without some really good ones, it will be hard to attract the businesses until they are about 60% occupied.
I think Waverly Place has always been stuck in the middle at a weird size. It's much larger than the typical shopping center which is maybe 150,000 sf for a large one and yet much smaller than a major everything center like Crossroads and can't have the multiple big box anchors. It has lots of open space and a monumental feel. All of which added to the costs of building, but just oppose not quite have the critical mass of stores to justify the higher rents. It was built while I was in high school and was nice back then, but it never seemed to quite live up to its promise and what the original developer had hoped for.
Maybe they'll get more business when Costco replaces MacGregor Village (assuming it does). It's not that far between the two. Or maybe some of the MacGregor businesses will move to Waverly Place.
Maybe they'll get more business when Costco replaces MacGregor Village (assuming it does). It's not that far between the two. Or maybe some of the MacGregor businesses will move to Waverly Place.
Heard that thanks to the ridiculous road improvement requirements that Cary was going to require Costco to fund, they have bailed on the McGregor build.
I've been racking my brain trying to remember the name of a restaurant that was there sometime in the late 80s/early 90's, upper level, large dining space. Anyone?
Heard that thanks to the ridiculous road improvement requirements that Cary was going to require Costco to fund, they have bailed on the McGregor build.
If true, that is a shame. McGregor is another shopping center which needs some serious TLC.
I loved Gregory's at Waverly Place. Their bread was so yummy. I agree with the poster who said the "shape" of waverly place is a downfall. It can't accomodate a large box-store, etc.
Last edited by escapenc; 04-16-2012 at 06:23 AM..
Reason: need to add
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