Just for comparison, the JCPenney that was built in Avon in 2007 is 104,000 sf.

 

http://blog.cleveland.com/business/2007/10/_jcpenney_brightening_its_imag.html

 

---

 

OTOH, Kohl's is rolling out smaller stores in the 60,000 sf range:

 

Kohl's to develop more smaller-size stores

 

By Doris Hajewski of the Journal Sentinel

May 12, 2011 |(21) Comments

 

The Kohl's department stores of the future will be smaller than the 90,000-square-foot prototype that local shoppers are used to seeing, Chief Executive Officer Kevin Mansell said Thursday.

 

After years of seeing better financial returns from the 60,000-square-foot format the company rolled out in 2002 for small communities, the Menomonee Falls-based retail chain is shifting its focus to the smaller size everywhere.

 

"All stores going forward will be disproportionately smaller," Mansell said in an interview at the company's annual meeting in Milwaukee.

 

Thirty of the 40 new stores Kohl's that will open this year are small format. Next year, the percentage of the new smaller stores will be higher, at least 75%, he said. Kohl's largest format of more than 100,000 square feet for high-density urban areas will rarely be seen, if at all, in the future, Mansell said...

 

http://www.jsonline.com/business/121701224.html

Definitely not an IKEA folks... and speculating what store it might be is fine, but once the discussion goes to things like perceived quality of said store... time to get back on topic, thankyouverymuch! :-)

Since everyone is speculating, I am going to guess it is going to be a Sterling-Lindner Co. building...  :evil:

From an e-mailed agenda....

 

 

Community and Economic Development Committee

TUESDAY, May 31, 2011

9:30 a.m.

MERCEDES COTNER COMMITTEE ROOM

217 CITY HALL

 

Ord. No. 766-11

By Council Members Cimperman, Brancatelli, Cleveland, and Sweeney (by departmental request)

To amend the title, the second whereas clause, and Section 6 of Ordinance No. 1780-05, passed January 9, 2006, relating to the establishment of the Steelyard Commons Urban Redevelopment Tax Increment Equivalent Fund; and to supplement the ordinance by adding new Sections 6a., 6b., and 6c., relating to authorizing grants.

Remarks by Director of Economic Development Department:  See Legislation.

Translate?

I did talk to my sister-in-law over the weekend who works at Kohl's Corporate in Wisconsin.  She said they do plan to open several stores in Ohio, but couldn't say whether or not one was set to be built in Steelyard Commons.  I have her out on a fact finding mission as we speak...

I thought that Walmart had some sort of exclusive around being the only food store allowed in SYC?  My guess is a Kohls or Dicks.

From what ive heard, Walmart cant build a supercenter if a grocery store already exists, but ive never heard that you cant build a grocery store if a Walmart Supercenter already exists. And the former might just be in certain cases.

From what ive heard, Walmart cant build a supercenter if a grocery store already exists, but ive never heard that you cant build a grocery store if a Walmart Supercenter already exists. And the former might just be in certain cases.

 

I think the reason why is waaaaaay up thread.  I remember having this discussion back in the day.

It's going to be a Burlington Coat Factory but only if other tenants are lined up

 

It was announced on Steelyard's FB page that Five Guys Burgers and Fries will be a tenant in the building that T-Mobile is located.  A place called Guthrie's Chicken is moving in next to Chipotle.

 

Steelyard posted that there would be a big tenant announcement coming soon.  Not sure if Five Guys was that announcement or if there's something else in the pipeline.

 

 

 

 

OMG Re: Five Guys.  Mr. Broccoli is going to be so excited!

Burlington Coat Factory is waiting for another large tenant before they come in...so maybe it's them?

I'm not seeing any announcements on steelyards website???

Burlington Coat Factory is waiting for another large tenant before they come in...so maybe it's them?

Are we certain that we're getting a BCF?

^It's a very strong rumour. Not set in stone but the demographics and foot traffic are there.

^It's a very strong rumour. Not set in stone but the demographics and foot traffic are there.

Oh ok. I was just curious. I think it'll be a great thing if we get a Burlington down there. Although personally, I'd rather have a Kohl's or especially a Macy's, just because I think that if a Macy's opened in the city of Cleveland it would send a clear statement that retail has returned to the city. But I guess that signal can be sent with any department store opening in the city, especially since the city hasn't had a department store in the city limits since Dillard's left in 2002.

I'm not seeing any announcements on steelyards website???

 

It's on their Facebook page.

I agree!  As someone who nearly refuses to go to the suburbs, I can't wait for new stores to open.  It will come full circle.  Schools are doing better, real estate is cheaper, people are moving back to the city...retail will follow.  Although I can't see a Macy's down there, Kohls could work with their new store format.  Steelyard is convenient for quite a large area.

-Nothing much in terms of development or news but this story had a picture and caption of Steel Yard - Shoppers head into the Walmart store at the Steelyard Commons shopping complex in Cleveland in this Feb. 2 photo. Not sure if its just me but local pictures have been used a lot lately in national stories.

 

Retail sales rise in January, with and without auto sales

WASHINGTON – Americans rebounded from a weak holiday season and increased spending on retail goods in January, an encouraging sign for the strengthening economy

Retail sales rose at a seasonally adjusted 0.4% last month, the Commerce Department said Tuesday. Consumers spent more on electronics, home and garden supplies and sporting goods at department and general merchandise stores and at restaurants and bars.

 

Consumers spent less on cars in January, the report showed, even though automakers previously reported higher sales in January. That suggests dealers offered discounts in order to boost sales. Low interest rates, better loan availability and new car models have helped drive sales higher in the last three months.

 

http://www.usatoday.com/money/economy/story/2012-02-14/retail-sales-inventories/53088312/1

wish i had stock in five guys. they are really popping up everywhere. not a bad thing!

 

Oh scheisse. This was very convenient to downtown

 

Looks like they are closing 50 nationwide.

They are overpriced...it's no wonder.

Best buy like other brick and mortar stars are finding it hard to compete in a World of Walmart and Amazon. Hopefully they can find something to fit in that Best Buy shell, maybe a fitness center?

Best buy like other brick and mortar stars are finding it hard to compete in a World of Walmart and Amazon. Hopefully they can find something to fit in that Best Buy shell, maybe a fitness center?

 

True words.  Unfortunately I think America will continue a slide until people get over the Wal Mart mentality of HAVING to have everything cheaper.  Sometimes it's better to spend a bit more and get something better.    Sad for Steelyard...I do hope they reenergize the space.

^ Unless they are selling the same exact CD or movie for more. I hate Walmart, but if choosing between Walmart and Best Buy, im going to pick Walmart if its going to save me money. Both are just Big Box national chains.

Best Buy is closing 6 Chicagoland stores. Maybe we can get them to take a look at a downtown location. I think this closing leaves the city underserved regarding electronics.

 

With an increasing downtown residential population, I was thinking the same thing.

I agree, definitely under served. A big vacant building now. I love the West Side Market, but.... Could a Whole Foods find a home in this vacant space?  It is too big for a CVS or Walgreens but Whole Foods could fill a niche for packaged goods that WSM doesn't serve. 

 

Barring that -- maybe a Marc's?

I think there are better options for downtown retail than Best Buy. I would wager a fair bit of money that Best Buy won't even exist in its current form 10 years from now. Someone who focuses on media and entertainment only and doesn't rely on a handful of unnecessary high-margin products might do better - Best Buy will continue to lose to NewEgg on price and convenience, Sears on appliances, and Gamestop on games. It might have one or two successful departments, but eventually they'll have to retool or call it a day.

 

If there's a concern about the area being underserved, well, not to be an enemy to retail everywhere, but I've done well using NewEgg.com for basically everything. Sam's Club isn't bad, either, but of course that requires membership. Not sure downtown would support a large electronics store right now. A few years down the road, I'd think.

 

There are successful electronics retailers, by the way. Fry's in California. HH Gregg around here is pretty good - bought a TV there and would again.

You know, I really hear  what you are saying. Is retail dead for electronics?  I mean, I need to try on clothes I will buy. But the iPod charging station I put on the nightstand?  Not so much!

I'll post this here because it is relevant to what is currently happening with the Best Buy closings. To me this is an idea Cleveland should pursue. Smaller, smarter, urban locations.

 

Big-Box Giants Downsize to Drive Productivity with Smaller, Urban Stores

Mar 30, 2011 8:06 AM, By Elaine Misonzhnik

 

http://retailtrafficmag.com/retailing/analysis/big_box_giants_downsize_03302011/

I'm personally not at all surprised the Steelyard store is closing.  To me, it has always seemed like the bastard stepchild of Best Buy.  They only carried low-end stock, so we always had to go to a different location to find what we were looking for.....  The Best Buy close to the Jennings and 480 is much better stocked, and it's only 5 minutes further from downtown.  I'm of course not happy the Steelyard store is closing, I'm just saying, as a semi-frequent window shopper there, it doesn't surprise me one bit.  And I agree that for small items that ship easily, Newegg or Amazon is the way to go nowadays.....

In general, is Steelyard busy?

I always see quite a few people but not sure about actual sales.

In general, is Steelyard busy?

 

The shopping center?  Yes.  They're making a killing down there.

 

If you mean the Steelyard Best Buy specifically, I've been in there a few times and it wasn't all that busy, but I've had the same problems as DocBroc with not being able to find what I needed, so I can see why it would be a less-trafficked location.

The Steelyard Best Buy was always dead with the staff outnumbering customers three to one on an average weekday.

 

When Best Buy announced the national closing, I though immediately of that location.

 

I think the WalMurt, Home Depot and Target likely make their numbers, but was surprised the best Buy stuck around as long as it did.

 

There are still a bunch of open parcels down there, but I think that future stores would be foolish to build on them.

^Out of curiosity why do you think future stores would be foolish to build there?

Yea somebody better tell Five Guys and Guthrie Chicken not to open there, because they are going to in about a week. Steelyard is probably doing as well as any retail complex these days. Best Buy was a national decision, it had very little to do with Steelyard.

 

Cant wait for 5 Guys. Yes it is part of a national downsizing.

 

I agree about the limited selection but I did try to support them as much as possible. I try to keep the purchases within Cleveland proper whenever possible. Maybe that's becoming an old-fashioned concept?

Thanks, I remember when it was in the planning stages, it was either going to be so successful it would drive local stores out of business (mostly directed at Wal-mart) or it was a huge waste of money because it would fail.

 

I'm happy it's doing well, and Dave's in Ohio City is still open

 

Steelyard as an entity has already turned a profit...it's sister Legacy Village....not so much.

^Out of curiosity why do you think future stores would be foolish to build there?

 

Because the anchor store is halfway through it's shelf life and will abandon ship before the tax incentives run dry. The roof already leaks in several spots (point being that it wasn't built to last much longer then 10 years.)

 

I don't think large-scale national retail is a viable business model for the health of this city, but I'm sure a dozen of you can easily point out to me that I am wrong in the course of the next day or two.

 

Time will tell.

I don't think anyone on the board thinks the city should pin its hope on a Big box center like Steelyard. If anyone replies to you in a negative way, it''ll probably be because you assumed they would tell you you were wrong.

 

If you were to read through all the pages of this thread I'd think you'd discover that.

Mitch should be concentrating more on this location and its next phases instead of taking over golf courses for even more retail in a statistically proven over-saturated region

Better yet, how about downtown instead.

^Out of curiosity why do you think future stores would be foolish to build there?

 

Because the anchor store is halfway through it's shelf life and will abandon ship before the tax incentives run dry. The roof already leaks in several spots (point being that it wasn't built to last much longer then 10 years.)

 

I don't think large-scale national retail is a viable business model for the health of this city, but I'm sure a dozen of you can easily point out to me that I am wrong in the course of the next day or two.

 

Time will tell.

 

Are you referring to WalMart?  I believe they waived the available tax abatement (http://blog.cleveland.com/earlyedition/2007/02/business_walmart_gives_up_stee.html) so there is no clock on those that would cause them to reassess their location.  Or are you referring to different tax incentives?

I can tell you that Phase 2 plans are well on there way with some very large and exciting tenants already in LOI stage.  After co-tenancy things are figured out - I would expect a large announcement in the next few months.  Believe me, Steelyard is doing really well and I wouldn't anticipate the Best Buy building to stay empty for too long. 

I will now officially resurrect the Trader Joes rumor from so many pages ago on this thread