It's essential to remember that PNL is a master development plan designed for gradual leasing, not an immediate occupancy. While some may argue that it should be fully leased by now, several factors have contributed to the current situation. The recession that coincided with its opening, the setbacks caused by the pandemic, and the challenging business climate for offices and retail spaces since then all play a role in the leasing progress. Currently, approximately 520,000 square feet out of the total 600,000 square feet has been leased, which considering the circumstances, is not entirely unreasonable.dukuboy1 wrote: ↑Thu Jul 20, 2023 1:01 pm Really hope with the continued additions to residential developments and adding more & more people living downtown that businesses like fast food/fast casual will come downtown more. Also some retail, especially a "box store" of sorts. Really look at the business growth organically as the money follows the people so to speak. Then perhaps there will be at least 1 or 2 companies that decide to have an HQ presence downtown to bring back that business traffic. Ideally a homegrown KC company that is experiencing growth and ready to take that next step in their growth.
But nice to see activity in development still going after the all the COVID crap.
As the residential sector continues to grow in the area, PNL becomes more attractive to potential renters. However, it's crucial to consider the distinct focus of PNL compared to other retail leasing areas, like The Plaza. While The Plaza emphasizes retail, PNL revolves around entertainment. This unique aspect may deter some potential clients who prefer a steady flow of foot traffic and wish to avoid large crowds that often accompany concerts and events. Despite the increasing residential developments, it's possible that most traditional forms of retail might not thrive in this particular neighborhood. Apart from stores like Target, clothing retail may face challenges in establishing a strong presence in the area for the time being.
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