P&L District: 14th & Main Site Proposal

Come here for discussion about the new downtown entertainment district.
User avatar
wahoowa
New York Life
New York Life
Posts: 408
Joined: Sat May 02, 2015 2:57 pm
Location: CBD

Re: P&L District: 14th & Main Site Proposal

Post by wahoowa »

StrangerThings wrote:Expect a new tenant announcement soon..... it's nothing that's been discussed in here as far as I can tell.
it's been fifteen days i'm ready!

User avatar
KCDowntown
Colonnade
Colonnade
Posts: 917
Joined: Tue Oct 08, 2002 2:17 pm

Re: P&L District: 14th & Main Site Proposal

Post by KCDowntown »

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

kcjak
Penntower
Penntower
Posts: 2210
Joined: Thu Nov 29, 2007 3:02 pm

Re: P&L District: 14th & Main Site Proposal

Post by kcjak »

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
UGH! What next, a vape store?

User avatar
KCPowercat
Ambassador
Posts: 30732
Joined: Mon Oct 07, 2002 12:49 pm
Location: Quality Hill
Contact:

Re: P&L District: 14th & Main Site Proposal

Post by KCPowercat »

Woof

User avatar
DaveKCMO
Ambassador
Posts: 18609
Joined: Sun Nov 27, 2005 6:22 pm
Location: Crossroads
Contact:

Re: P&L District: 14th & Main Site Proposal

Post by DaveKCMO »

just what grand needs.

earthling
One Park Place
One Park Place
Posts: 6514
Joined: Sun Sep 11, 2011 2:27 pm

Re: P&L District: 14th & Main Site Proposal

Post by earthling »

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?

User avatar
DColeKC
Alameda Tower
Alameda Tower
Posts: 1086
Joined: Thu Jul 25, 2019 10:50 am

Re: P&L District: 14th & Main Site Proposal

Post by DColeKC »

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?
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.

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5235
Joined: Mon Mar 21, 2005 11:04 am

Re: P&L District: 14th & Main Site Proposal

Post by beautyfromashes »

DColeKC wrote:
Thu Aug 01, 2019 4:50 pm
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.
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.

User avatar
DColeKC
Alameda Tower
Alameda Tower
Posts: 1086
Joined: Thu Jul 25, 2019 10:50 am

Re: P&L District: 14th & Main Site Proposal

Post by DColeKC »

beautyfromashes wrote:
Thu Aug 01, 2019 5:10 pm
DColeKC wrote:
Thu Aug 01, 2019 4:50 pm
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.
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.
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!

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5235
Joined: Mon Mar 21, 2005 11:04 am

Re: P&L District: 14th & Main Site Proposal

Post by beautyfromashes »

DColeKC wrote:
Thu Aug 01, 2019 7:35 pm
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!
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.

User avatar
normalthings
Oak Tower
Oak Tower
Posts: 4540
Joined: Mon Mar 30, 2015 9:52 pm

Re: P&L District: 14th & Main Site Proposal

Post by normalthings »

DColeKC wrote:
Thu Aug 01, 2019 4:50 pm
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?
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.
Bulldoze for 5 Light :lol:

User avatar
TheLastGentleman
Valencia Place
Valencia Place
Posts: 1953
Joined: Tue Jun 13, 2017 9:27 pm

Re: P&L District: 14th & Main Site Proposal

Post by TheLastGentleman »

normalthings wrote:
Thu Aug 01, 2019 9:41 pm
Bulldoze for 5 Light :lol:
This but completely unironically

earthling
One Park Place
One Park Place
Posts: 6514
Joined: Sun Sep 11, 2011 2:27 pm

Re: P&L District: 14th & Main Site Proposal

Post by earthling »

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.

Image

User avatar
smh
Supporter
Posts: 3752
Joined: Tue Jun 08, 2010 10:40 pm
Location: Central Loop

Re: P&L District: 14th & Main Site Proposal

Post by smh »

Mellow Mushroom please.

User avatar
DColeKC
Alameda Tower
Alameda Tower
Posts: 1086
Joined: Thu Jul 25, 2019 10:50 am

Re: P&L District: 14th & Main Site Proposal

Post by DColeKC »

beautyfromashes wrote:
Thu Aug 01, 2019 8:15 pm
DColeKC wrote:
Thu Aug 01, 2019 7:35 pm
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!
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.
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.

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.

User avatar
KCPowercat
Ambassador
Posts: 30732
Joined: Mon Oct 07, 2002 12:49 pm
Location: Quality Hill
Contact:

Re: P&L District: 14th & Main Site Proposal

Post by KCPowercat »

Not very nice to call people liars fyi

earthling
One Park Place
One Park Place
Posts: 6514
Joined: Sun Sep 11, 2011 2:27 pm

Re: P&L District: 14th & Main Site Proposal

Post by earthling »

What is the leasing rate for P&L... over $20/sqft, over $25, over $30?

User avatar
beautyfromashes
Oak Tower
Oak Tower
Posts: 5235
Joined: Mon Mar 21, 2005 11:04 am

Re: P&L District: 14th & Main Site Proposal

Post by beautyfromashes »

You said:
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!
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.

User avatar
Critical_Mass
Colonnade
Colonnade
Posts: 826
Joined: Sun Jun 13, 2004 7:56 pm
Location: Crossroads

Re: P&L District: 14th & Main Site Proposal

Post by Critical_Mass »

Shots fired

flyingember
Mark Twain Tower
Mark Twain Tower
Posts: 9074
Joined: Tue Jul 17, 2012 7:54 am

Re: P&L District: 14th & Main Site Proposal

Post by flyingember »

beautyfromashes wrote:
Fri Aug 02, 2019 3:32 pm
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.

Post Reply