it's been fifteen days i'm ready!StrangerThings wrote:Expect a new tenant announcement soon..... it's nothing that's been discussed in here as far as I can tell.
P&L District: 14th & Main Site Proposal
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Re: P&L District: 14th & Main Site Proposal
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Re: P&L District: 14th & Main Site Proposal
There's a zoning permit dated yesterday for the space at 1300 Grand for The Hookah Lounge KC. Looks like this is the corner under the Hotel Nightclub sign.
Is this the new tenant set to be announced?
KCDowntown
Is this the new tenant set to be announced?
KCDowntown
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Re: P&L District: 14th & Main Site Proposal
UGH! What next, a vape store?KCDowntown wrote:There's a zoning permit dated yesterday for the space at 1300 Grand for The Hookah Lounge KC. Looks like this is the corner under the Hotel Nightclub sign.
Is this the new tenant set to be announced?
KCDowntown
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Re: P&L District: 14th & Main Site Proposal
just what grand needs.
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Re: P&L District: 14th & Main Site Proposal
Is mind boggling that with the fairly consistent foot traffic around the P&L streetcar stops the retail spot at NW corner of 14th/Main is still not leased and never has been. Is Cordish even trying? Will they take 10 years to fill in the old Kaldi Coffee at 12th/Main too?
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Re: P&L District: 14th & Main Site Proposal
There's some big things in the works for that entire lower area. I believe they're waiting to see what goes down with Strata. It's not as desirable a location to potential tenants as you'd expect. I remember leasing always showing the space and no one wanting to commit.earthling wrote: ↑Thu Aug 01, 2019 4:21 pm Is mind boggling that with the fairly consistent foot traffic around the P&L streetcar stops the retail spot at NW corner of 14th/Main is still not leased and never has been. Is Cordish even trying? Will they take 10 years to fill in the old Kaldi Coffee at 12th/Main too?
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Re: P&L District: 14th & Main Site Proposal
Cause it’s always better to let a space sit empty for 10 years costing money than to drop the rent to a reasonable level or ask for some BS profits kickback.
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Re: P&L District: 14th & Main Site Proposal
Cordish will lease a parking spot if they can make money. You honestly think they purposely have kept it empty? No one has been interested and that’s directly from the lease manager who profits off of leasing!beautyfromashes wrote: ↑Thu Aug 01, 2019 5:10 pmCause it’s always better to let a space sit empty for 10 years costing money than to drop the rent to a reasonable level or ask for some BS profits kickback.
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Re: P&L District: 14th & Main Site Proposal
I know this is false from personal experience. I’ve had several people with thriving small businesses who wanted to expand to the district. The rents were astronomical and when they asked for a price that was more reasonable, they were asked to sign over part of the profits of the future business for the life of the contract. They went to other, in my opinion, better locations for over half the cost.
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Re: P&L District: 14th & Main Site Proposal
Bulldoze for 5 LightDColeKC wrote: ↑Thu Aug 01, 2019 4:50 pmThere's some big things in the works for that entire lower area. I believe they're waiting to see what goes down with Strata. It's not as desirable a location to potential tenants as you'd expect. I remember leasing always showing the space and no one wanting to commit.earthling wrote: ↑Thu Aug 01, 2019 4:21 pm Is mind boggling that with the fairly consistent foot traffic around the P&L streetcar stops the retail spot at NW corner of 14th/Main is still not leased and never has been. Is Cordish even trying? Will they take 10 years to fill in the old Kaldi Coffee at 12th/Main too?
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Re: P&L District: 14th & Main Site Proposal
This but completely unironically
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Re: P&L District: 14th & Main Site Proposal
Downtown has the lowest retail vacancy rate in the metro and a chunk of that is the western side of P&L. Cordish is more likely the reason.
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Re: P&L District: 14th & Main Site Proposal
Mellow Mushroom please.
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Re: P&L District: 14th & Main Site Proposal
That's a complete lie. I spent nearly a decade working for Cordish and was heavy involved once a new tenant signed on. I had to oversee the build outs and go over every single lease since I oversaw all facilities for the landlord. I won't argue about lease prices because that's subjective and it works for most of the tenants down there. I'm sure wherever those people decided to lease pay less, for less.beautyfromashes wrote: ↑Thu Aug 01, 2019 8:15 pmI know this is false from personal experience. I’ve had several people with thriving small businesses who wanted to expand to the district. The rents were astronomical and when they asked for a price that was more reasonable, they were asked to sign over part of the profits of the future business for the life of the contract. They went to other, in my opinion, better locations for over half the cost.
The lease structures are very common. "X" amount a month and a small percentage of profits AFTER a very high sales goal is hit. Let's say a place like Yard House. They would need to hit nearly 4 million dollars in sales before the landlords 5% kicked in. That is also only 5% of the additional amount made OVER the previously defined sales goal.
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Re: P&L District: 14th & Main Site Proposal
Not very nice to call people liars fyi
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Re: P&L District: 14th & Main Site Proposal
What is the leasing rate for P&L... over $20/sqft, over $25, over $30?
- beautyfromashes
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Re: P&L District: 14th & Main Site Proposal
You said:
There has absolutely been interest. These companies went on to be very successful with leases that were cheaper and didn’t have their landlord trying to grab profits. Fact! Are you really saying, like you seem to above, that there has been zero interest in the empty spots in the district? That that is why they are so many empty ones? Because, I could rent the rest of the district out in a week. I wouldn’t get your astronomical prices but it wouldn’t sit empty for a decade.DColeKC wrote: ↑ Cordish will lease a parking spot if they can make money. No one has been interested and that’s directly from the lease manager who profits off of leasing!
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Re: P&L District: 14th & Main Site Proposal
Shots fired
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Re: P&L District: 14th & Main Site Proposal
There has absolutely been interest. These companies went on to be very successful with leases that were cheaper and didn’t have their landlord trying to grab profits. Fact! Are you really saying, like you seem to above, that there has been zero interest in the empty spots in the district? That that is why they are so many empty ones? Because, I could rent the rest of the district out in a week. I wouldn’t get your astronomical prices but it wouldn’t sit empty for a decade.
[/quote]
This.
Go look at the retail space at 4040 N Cherry. They have people leasing at least one back side (east) lower level space, the entrance is basically next to a dumpster. There's someone interested in every space in the city
The only reason every space wouldn't be filled is corporate lack of interest in a specific tenant or the leasing rate is higher than the market wants to pay to fill quickly.