May 16, 20223 yr 3 hours ago, eyehrtfood said: I know some key retailers confirmed as paying no rent, only a % of sales, to keep them there. The way of the 2022 world, not just CLE retail. When a mall or shopping center starts using incentives such as no rent and only a percentage of sales, it is an indication that it is starting to show serious declines in traffic. It also a strong sign that other potential retailers are not lining up to fill potential vacancies.
May 17, 20223 yr Now that I think about it, didn't the the Euclid and/or Colonial Arcades also have a similar structure with tenants? I haven't a clue if those malls are considered successful, but clearly things worked out for Eton.
May 17, 20223 yr 19 hours ago, LifeLongClevelander said: When a mall or shopping center starts using incentives such as no rent and only a percentage of sales, it is an indication that it is starting to show serious declines in traffic. It also a strong sign that other potential retailers are not lining up to fill potential vacancies. First off, the pandemic changed the equation for malls and tenants and the old lease model isn't the only game in play - wirh many on revised lease plans for the last few years. . But, to clarify for Beachwood Place, I know that one or more stores that have also opened at Pinecrest or other locations, but have been encouraged to keep their Beachwood stores open, too, are using this % of sales model to not leave the mall. Those are the retailers I referenced above.
May 17, 20223 yr If you start doing really well you go off of percentage rent and back to regular. This can be in your favor since if you do well enough percentage rent is higher than regular.
May 24, 20223 yr Mitchell’s ice cream counter at downtown Heinens is open. When is the last time I-71 turned a profit?
May 25, 20223 yr Paper Source is closing soon at Eton. Judging by how fast the former Lucky Brand store was taken over by Evereve, I expect this space to find a new tenant quickly.
May 26, 20223 yr Seeds & Sprouts XXIV — Masonic reno, Data center grows, E. 89th apts, Uptown fitness By Ken Prendergast / May 26, 2022 A huge retail void is about to be filled in the Uptown development on Euclid Avenue in Cleveland’s University Circle. Planet Fitness will fill a 21,421-square-foot void left by Barnes & Noble at 11451 Euclid Ave. The university bookstore relocated to a 4,608-square-foot space across the street at 11434 Uptown Ave., formerly occupied by ABC the Tavern Uptown on the ground floor of the Triangle Tower II graduate housing complex. MORE: https://neo-trans.blog/2022/05/26/seeds-sprouts-xxiv-masonic-reno-data-center-grows-e-89th-apts-uptown-fitness/ "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 26, 20223 yr On 5/9/2022 at 3:20 PM, SgtBarone said: Free People Movement opened last Friday at Pinecrest in the former Gracylane space. This is the first FP Movement location in Ohio. i wonder how they are doing because the regular free people has struggled over the years. i think it was one of the first obvious major brick and mortar retail outlets that was hurt or pivoted due to growing online sales. the athletic shop is a wise move for them as it seems all athletic shops have done well during covid.
May 26, 20223 yr On 5/25/2022 at 10:11 AM, SgtBarone said: Paper Source is closing soon at Eton. Judging by how fast the former Lucky Brand store was taken over by Evereve, I expect this space to find a new tenant quickly. we had a paper source on our block that closed too. maybe something is up with them? my spouse used to get ticked off at them because outside they would advertise craft classes, but they they never actually held them -- it was faked to look cutesy on a sign and draw people in. kinda weird.
May 26, 20223 yr Perhaps it's part of their consolidation from last year's bankruptcy. Those stores are really cute and I like how they have parties. But it probably doesn't help that Barnes & Noble bought them...
May 30, 20223 yr "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
May 30, 20223 yr My neighbor and I have had argued about this topic for... god almighty YEARS at this point. Time flies. Point being he believes in bandaids i.e. commercial vacancy taxes/fees (that a Blackstone would ignore, write off, or not think about for more than 5 seconds, not with those portfolios), property tax exemptions (small business owners' concerns are primarily revenue, not property tax), rent abatements/forgiveness/sales consignments (he and I agree in concept). But then there's my thoughts: Complete dystopian seizure by local government if a property is vacant for, let's say 6 months. Expand eminent domain, grab that blighted property, rent it to the highest bidder, whatever that number may be, and fast track whatever license is needed. I don't even care if it's a fake church or special massage parlor; something needs to be there. Edited May 30, 20223 yr by TBideon
June 28, 20222 yr speaking of target, what is going on with them developing the smaller city targets lately? i expect dt cle to be in line for that -- anyone know?
June 28, 20222 yr The only announced new Target is located at the former Whole Foods by Corky's. And it'll be a smaller one too.
July 1, 20222 yr Beachwood Mall looked to be 90-95% full. Maybe half a dozen new stores geared to a less traditional market, and it certainly beats vacancies. Starbucks closure is still mystifying. Dillard's looks cleaner. Saks emptier and with a lot of sales. Let's hope Cincinnati's closure isn't indicative. My dad is a big fan of the new pub too. It's... fine, and they have $4 happy hour drafts (Pizzazz has $3 happy hour drafts btw).
July 1, 20222 yr Crocker Park announced yesterday they're getting a Lego Store this Winter, and the one at Beechwood will be staying open. Cleveland will be the first metro in Ohio to have two shops. (Easton technically has two though the one at the Discovery Center is not an "official" Lego Store). https://www.crainscleveland.com/scott-suttell-blog/holiday-cheer-crocker-park-getting-lego-store
July 7, 20222 yr On 6/30/2022 at 9:43 PM, TBideon said: Beachwood Mall looked to be 90-95% full. Maybe half a dozen new stores geared to a less traditional market, and it certainly beats vacancies. Starbucks closure is still mystifying. Dillard's looks cleaner. Saks emptier and with a lot of sales. Let's hope Cincinnati's closure isn't indicative. My dad is a big fan of the new pub too. It's... fine, and they have $4 happy hour drafts (Pizzazz has $3 happy hour drafts btw). I would highly doubt it, but who knows. I’ve always heard Cleveland was one of the highest earning stores for the size of the market. Even as of last year, WWD said Cleveland was one of the top performing stores. The store looks amazing since the remodel. We can’t wait to go back!
July 11, 20222 yr A couple Saks locations, such as Richmond, VA and Tulsa, OK, have recently closed their second floors and consolidated onto one floor. Until we start to see things like that, I wouldn't worry about Beachwood. As JJames mentioned above, Beachwood was recently touted as a high-performing location by Saks corporate. As far as Starbucks inside Beachwood Place, I would imagine this is a staffing issue causing a delayed reopening. Many of the area Starbucks have only recently resumed normal hours as they ramp up hiring. Edited July 11, 20222 yr by SgtBarone
July 19, 20222 yr On 5/25/2022 at 10:11 AM, SgtBarone said: Paper Source is closing soon at Eton. Judging by how fast the former Lucky Brand store was taken over by Evereve, I expect this space to find a new tenant quickly. The Good Feet Store is moving in that space
July 20, 20222 yr On 7/1/2022 at 1:18 PM, rollercoasterjoe said: Crocker Park announced yesterday they're getting a Lego Store this Winter, and the one at Beechwood will be staying open. Cleveland will be the first metro in Ohio to have two shops. (Easton technically has two though the one at the Discovery Center is not an "official" Lego Store). https://www.crainscleveland.com/scott-suttell-blog/holiday-cheer-crocker-park-getting-lego-store cool -- the lego store is crazy popular here in nyc. its always worth popping in them to see the crazy stuff they have built. did anyone see the latest fan inspired set? -- it's the office tv show as designed by an office fan fanatic: https://www.theverge.com/2022/7/15/23219283/lego-the-office-ideas-set-walmart
August 5, 20222 yr @KJP- you hinted at some national retailers eyeing downtown for future locations... any updates or hints in regard to location and/or timeframes you can give?
August 5, 20222 yr I wrote about one of them recently...Target. Might hear about another in the next 2 to 3 months. "In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage." -- John Steinbeck
September 1, 20222 yr i dk about cle, but a lot of bb&b’s are closing: https://www.cnn.com/2022/08/31/business/bed-bath-and-beyond-turnaround-plan/index.html
September 15, 20222 yr does anybody notice more thrift shops these days? how’s chelseas doing? ha. Blog • Retail Technology Rise in shopping drives a new focus on retail technology for a thrift store Pankaj Mathur Chief Operating Officer March 14, 2022 … The clothing resale market alone is estimated to be worth US$30-40bn, with annual growth of 15-20% per annum from 2020-2024, according to the Boston Consulting Group. Their recent survey of 7000 shoppers in six countries showed that sustainability was the biggest factor behind the growth, with 70% citing it as the top reason for buying pre-worn clothing. more: https://ivend.com/blog/the-rise-and-rise-of-the-thrift-retail-store/ Rise of Thrifting: Solution to Fast Fashion or Stealing from the Poor? … But in the past decade, thrifting has taken on a completely new life, especially among individuals of Generation Z, born between 1995 and 2010. https://econreview.berkeley.edu/rise-of-thrifting-solution-to-fast-fashion-or-stealing-from-the-poor/
October 4, 20222 yr Tonight, I took a walk by Harbor Verandas between the Rock Hall and Voinovich Park. It’s a walk I take probably 4-5 times a week, at all hours and all days of the week. The two retail spaces there continue to confound me. Firstly, Simply Vintage (which appears to be a cafe/ small grocery retail) has been fully kitted out, signage, shelves full etc since at least the spring. The park has had good foot traffic all summer, the Rock Hall looks to be having a good year and I have never, ever seen it open even once. Most laughably of all, the weekend of the Air Show, three days where I’d conservatively imagine 15,000 people walked right by it’s doors, it was closed with a sign in the window saying it was ‘Taking Inventory’. It was at that point I became convinced it’s a front for something. The other place, an ice cream shop, has had spasmodic construction activity over the last 18 months that’s taken it from ‘70% finished’ to ‘75% finished’. I can only assume it’s having money issues. It’s a shame. My hovercraft is full of eels
October 5, 20222 yr 3 hours ago, roman totale XVII said: Tonight, I took a walk by Harbor Verandas between the Rock Hall and Voinovich Park. It’s a walk I take probably 4-5 times a week, at all hours and all days of the week. The two retail spaces there continue to confound me. Firstly, Simply Vintage (which appears to be a cafe/ small grocery retail) has been fully kitted out, signage, shelves full etc since at least the spring. The park has had good foot traffic all summer, the Rock Hall looks to be having a good year and I have never, ever seen it open even once. Most laughably of all, the weekend of the Air Show, three days where I’d conservatively imagine 15,000 people walked right by it’s doors, it was closed with a sign in the window saying it was ‘Taking Inventory’. It was at that point I became convinced it’s a front for something. The other place, an ice cream shop, has had spasmodic construction activity over the last 18 months that’s taken it from ‘70% finished’ to ‘75% finished’. I can only assume it’s having money issues. It’s a shame. I love having local businesses, but I had the same thought when I saw Simply Vintage. Some of the storefronts in the arcades downtown give me a similar feeling. Last I read, the Rock Hall was breaking attendance records annually, so it’s a bit of a waste to have these businesses there when we could have a business contributing to the lakefront experience.
October 5, 20222 yr I went in for a quick sandwich at Simply Vintage one time, maybe a couple of months ago. But yes, I feel like it's closed 90% of the time I go down there. Definitely no consistent hours. Very strange. They've been in there for what feels like at least a year now. I wonder how they pay rent? I can't imagine the rent is cheap in new construction on the lakefront.
October 14, 20222 yr Sometimes National chains are beneficial. They carry name recognition, consistent hours and have the money. Not everything needs to be local. Sent from my iPhone using Tapatalk
October 15, 20222 yr 1 hour ago, MyPhoneDead said: Sometimes National chains are beneficial. They carry name recognition, consistent hours and have the money. Not everything needs to be local. Sent from my iPhone using Tapatalk That has nothing to do with being "local", and everything to do with poor operations. #1 rule of business- be open for your customers when you say you will be open.
October 21, 20222 yr On 1/27/2021 at 1:28 PM, osu87 said: CoHatch coming to Beachwood place according to their IG, looks like Maggiano and H&M space Wow, the sit-down restaurant component (North High Brewing) of this co-working company's Beachwood Place space - the largest in their growing network - has already closed, just 7 months in. More bad news for a clearly challenged mall. CoHatch, also, has been heavily advertising their co-working space on more traditional office leasing sites - up to 15,000 sf - seemingly shifting strategy to larger companies vs independent users. I keep fearing that Saks and/or Nordstrom is next to go. Whether Beachwood Place/malls/upscale retail is your thing or not, metros the size of Cleveland have these stores... Not having them places us further behind in keeping or attracting those that do value these offerings - a highly desirable demographic. Here's the original CoHatch story from March: https://www.clevelandjewishnews.com/news/local_news/cohatch-opens-coworking-space-at-beachwood-place/article_f703c85e-a3ab-11ec-89a9-8f3da42489a1.html
October 23, 20222 yr On 10/21/2022 at 1:38 PM, eyehrtfood said: Wow, the sit-down restaurant component (North High Brewing) of this co-working company's Beachwood Place space - the largest in their growing network - has already closed, just 7 months in. More bad news for a clearly challenged mall. CoHatch, also, has been heavily advertising their co-working space on more traditional office leasing sites - up to 15,000 sf - seemingly shifting strategy to larger companies vs independent users. I keep fearing that Saks and/or Nordstrom is next to go. Whether Beachwood Place/malls/upscale retail is your thing or not, metros the size of Cleveland have these stores... Not having them places us further behind in keeping or attracting those that do value these offerings - a highly desirable demographic. Here's the original CoHatch story from March: https://www.clevelandjewishnews.com/news/local_news/cohatch-opens-coworking-space-at-beachwood-place/article_f703c85e-a3ab-11ec-89a9-8f3da42489a1.html Wonder what exactly it is with Beachwood... is it the shoplifting (that Dillard's is in the news every week about theft). Is it lack of investment by ownership? Or is it the decentralized setup of the Cleveland Luxury store shopping centers? Or all of the above?
October 23, 20222 yr 1 hour ago, Mov2Ohio said: Wonder what exactly it is with Beachwood... is it the shoplifting (that Dillard's is in the news every week about theft). Is it lack of investment by ownership? Or is it the decentralized setup of the Cleveland Luxury store shopping centers? Or all of the above? All of the above. Plus the fact that enclosed malls have trouble dealing with loitering gracefully, which is tied into the shoplifting of course. Sit down restaurants are also on the decline. The virus accelerated the trend, but it was already in place. Eating has increasingly become an individual rather than a social activity since microwaves became popular.
October 23, 20222 yr 9 minutes ago, E Rocc said: All of the above. Plus the fact that enclosed malls have trouble dealing with loitering gracefully, which is tied into the shoplifting of course. Sit down restaurants are also on the decline. The virus accelerated the trend, but it was already in place. Eating has increasingly become an individual rather than a social activity since microwaves became popular. I agree "all of the above" too. As for sit down restaurants, I think the decline depends on what kind of restaurant and where you are. Many that I frequent have never been busier - while others obviously have suffered. But the Covid/post-Cov8lid focus on takeout, drive through, and pickup is clear - and not something I personally embrace, but know many do.
October 23, 20222 yr 7 minutes ago, eyehrtfood said: I agree "all of the above" too. As for sit down restaurants, I think the decline depends on what kind of restaurant and where you are. Many that I frequent have never been busier - while others obviously have suffered. But the Covid/post-Cov8lid focus on takeout, drive through, and pickup is clear - and not something I personally embrace, but know many do. Our observations are not inconsistent. The better ones that have something different to offer, or just do a good job, are going to benefit from others closing because they aren't getting enough business. Being on the peripheries of the industry for years (we served food, but nothing unique and that wasn't the core of the business) I could see it coming even pre-virus. Plus, there's still people that prefer sit down, it's just not as many. Another thing that happened was when everything went to take out, a lot of places that used the old business model of breaking even on the food and making money on drinks got burned when people were just buying food.
October 23, 20222 yr The place is advertising private party rentals so it's not completely dead, just no longer a conventional restaurant. Let's be nice and call it semi-repurposed. As for its failure, my guess is the mall's changing demographics don't support that kind of gastro pub generally. It needs walk-ins, since, really, who was going out of their way to just go to North High? A few, certainly, but enough to warrant maybe $20+ thousand/month in rent? You need walk-ins. The Saks/Nordstrom crowd is going to Capitol Grille or some nice place on Chagrin. The Hype or JD Sports crowd, I don't see it, maybe the eateries at Legacy Village or La Palace. But not a gastro pub. It's too bad. My dad liked it, even bought a growler. Decent enough happy hours too. Probably be better off in the Flats.
October 23, 20222 yr Saks has been at Beachwood Place since the mid 70s so we are approaching 50 years. If I had a nickel every time during past 20 years somebody told me Saks was closing I would be able to afford to actually shop there.
October 23, 20222 yr 4 hours ago, TBideon said: The place is advertising private party rentals so it's not completely dead, just no longer a conventional restaurant. Let's be nice and call it semi-repurposed. As for its failure, my guess is the mall's changing demographics don't support that kind of gastro pub generally. It needs walk-ins, since, really, who was going out of their way to just go to North High? A few, certainly, but enough to warrant maybe $20+ thousand/month in rent? You need walk-ins. The Saks/Nordstrom crowd is going to Capitol Grille or some nice place on Chagrin. The Hype or JD Sports crowd, I don't see it, maybe the eateries at Legacy Village or La Palace. But not a gastro pub. It's too bad. My dad liked it, even bought a growler. Decent enough happy hours too. Probably be better off in the Flats. That’s pretty much what leadership said in a recent interview: Three years into the relationship with COhatch, the North High team has learned lessons about what works — and what doesn’t. Zionsville and the two Cincinnati locations have been unquestionable hits with the right mix of visibility, foot traffic, night life and nearby residential. Beechwood in the Cleveland area, however, has struggled. Though the site is in a mall and draws well from shoppers, it doesn’t have great visibility beyond the mall itself. “Thirty-thousand people drive by that location, but they don’t see it,” Ward said. https://www.bizjournals.com/columbus/news/2022/09/29/north-high-brewing-nearing-10-locations-as-it-expa.html
October 24, 20222 yr Just got some bagels at the new orthodox place at Cedar/Lee. The area is looking like the new Coventry -- where did all these pubs come from? My own fault. I just haven't paid much attention to this strip in years.
October 24, 20222 yr 23 hours ago, Htsguy said: Saks has been at Beachwood Place since the mid 70s so we are approaching 50 years. If I had a nickel every time during past 20 years somebody told me Saks was closing I would be able to afford to actually shop there. I hope it stays. But Saks is not only no longer using interior mall spaces adjacent to its mall entrances for areas it outgrew in thr main store (used to house kids, intimates, trend clothing, at times) but at last check had also closed off some spaces upstairs in its main store - former fur gallery etc. But, if this makes it more $$$ feasible, so be it.
October 25, 20222 yr 23 hours ago, eyehrtfood said: I hope it stays. But Saks is not only no longer using interior mall spaces adjacent to its mall entrances for areas it outgrew in thr main store (used to house kids, intimates, trend clothing, at times) but at last check had also closed off some spaces upstairs in its main store - former fur gallery etc. But, if this makes it more $$$ feasible, so be it. The upstairs was renovated recently for an expanded men’s section. I went in mid September and it was all open. They’ve pivoted to more streetwear stuff, which I think makes a lot of sense although it’s not really to my taste.
October 25, 20222 yr Saks does feel much different lately. There's a lot of floor space and more sales than I can remember. That isn't to say it's struggling, or making crazy money, or failing, or doing fine, or following new store trends, etc. Just that it feels different than when I'd visit before.
November 14, 20222 yr Anyone know what's coming at Crocker Park in the space next to Hot Chicken Takeover? As far as I know, that spot hasn't been used yet, and I noticed they bumped out a temporary construction facade.
December 4, 20222 yr noticed a handful of those tower city shops have closed. The new ones that just opened? Sent from my iPhone using Tapatalk
December 5, 20222 yr yea. I forget all the names. city breaks, peach fuzz (?), the red velvet beard thing, Jack's closet (?) maybe so.ething else.
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