Re: OFFICIAL: Power & Light District
Posted: Wed Dec 23, 2020 2:16 pm
Not 100% sure, but I think a very small PNC bank location (likely virtual) will be going into the PNC Plaza.
It would make sense if P&L tries to be more of a neighborhood over time.KCPowercat wrote: ↑Wed Dec 23, 2020 2:19 pm P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?
Think about where these are going in. Small locations that were once rented.KCPowercat wrote: ↑Wed Dec 23, 2020 2:19 pm P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?
Agreed. P&L neighborhood amenities are what I use most down there. a bunch of bank fronts isn't a great neighborhood amenity and further lowers the revenue coming in that has to be covered by the city.normalthings wrote: ↑Wed Dec 23, 2020 2:28 pmIt would make sense if P&L tries to be more of a neighborhood over time.KCPowercat wrote: ↑Wed Dec 23, 2020 2:19 pm P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?
I'm much to lazy to search for this but I remember clearly some old Cordish "insiders" on here responded to complaints about empty storefronts that they weren't going to fill the spaces with just anything. Times have definitely changed.DColeKC wrote: ↑Wed Dec 23, 2020 2:31 pmThink about where these are going in. Small locations that were once rented.KCPowercat wrote: ↑Wed Dec 23, 2020 2:19 pm P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?
Also, times are changing and landlords certainly can't be as picky, especially when you were formally 96% leased.
The only location they've held out on and demanded a premium is the location at the corner of 14th and Main. It's not like it's their overall policy to "keep spaces empty".
I've seen those responses and remember the argument being made. They have to be selective of what tenants they allow to rent to not create too much unhealthy competition. Letting a national high end burger chain come into the 14th and main spot for example would damage BRGR. I believe they have a few spots they want to make sure a proper tenant goes into. The 14th and main spot has long been the biggest hold out. That space could easily be expanded to include Zafar and Polished Edge, giving you 9500 sq. ft. for a major retailer like Target.KCPowercat wrote: ↑Wed Dec 23, 2020 3:01 pmI'm much to lazy to search for this but I remember clearly some old Cordish "insiders" on here responded to complaints about empty storefronts that they weren't going to fill the spaces with just anything. Times have definitely changed.DColeKC wrote: ↑Wed Dec 23, 2020 2:31 pmThink about where these are going in. Small locations that were once rented.KCPowercat wrote: ↑Wed Dec 23, 2020 2:19 pm P&L turning into S&L District (Savings & Loan). I thought Cordish would rather keep retail spaces empty and wait for the right tenant versus just filling them up and now we have BOA and PNC?
Also, times are changing and landlords certainly can't be as picky, especially when you were formally 96% leased.
The only location they've held out on and demanded a premium is the location at the corner of 14th and Main. It's not like it's their overall policy to "keep spaces empty".
I can’t disagree about the BOA location. Only thing I can think of is the fact that banks as tenants are typically a solid long term play and if they sign a 10 year lease, that’s hard to pass up. Especially with the current state of retail in general.KCPowercat wrote: ↑Wed Dec 23, 2020 4:00 pm That's why BOA at the old Kaldi's place seems like a waste of a prime spot. This PNC thing doesn't seem like a big deal.
If I'm not mistaken there are permits pulled. It isn't hypothetical.
could be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some levelnormalthings wrote: ↑Mon Dec 28, 2020 8:13 pmThere are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.
It would make sense if they were planing to open their retail space in a better location and then later setup a brand new office those kinds of relationships that's accessible by appointment only and is much fancier than what they have today. I would be surprised if Commerce doesn't have boardrooms setup for this purpose downtown, because it's their HQ, and Bank of America is trying to compete with the same level of service.dukuboy1 wrote: ↑Tue Dec 29, 2020 12:39 pmcould be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some levelnormalthings wrote: ↑Mon Dec 28, 2020 8:13 pmThere are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.
I haven't banked with an institution with physical locations since... maybe 1997 or 1999? Somewhere in there. I haven't interacted with a human being regarding my banking needs in any meaningful way in that time and it's been glorious imo.dukuboy1 wrote: ↑Tue Dec 29, 2020 12:39 pmcould be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some levelnormalthings wrote: ↑Mon Dec 28, 2020 8:13 pmThere are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.
I refi-ed through Mazuma this summer, no human interaction, just a secure site and some e-mailing. Less talking to people than the car I leased. Rates are so low you really must refi if at all possible. I went from a 30 year to a 15 with a small bump in my mothly payment. Pleanty of other options out there for online refi. Rocket and Quicken come to mind.mean wrote: ↑Tue Dec 29, 2020 9:40 pmI haven't banked with an institution with physical locations since... maybe 1997 or 1999? Somewhere in there. I haven't interacted with a human being regarding my banking needs in any meaningful way in that time and it's been glorious imo.dukuboy1 wrote: ↑Tue Dec 29, 2020 12:39 pmcould be for sure. and I can see that, showing off the virtual side of things, as a new concept. Just curious with the other bank location being very close. who knows ? BOA has made a lot of very odd choices over the years when it comes to customer service and basically not wanting to meet clients in person anymore. I get the cost savings and efficiencies of technology. But banking will always be about relationships on some levelnormalthings wrote: ↑Mon Dec 28, 2020 8:13 pm
There are permits and there is a BofA coming soon sign at the P&L retail space. The new B of A space is entirely virtual so it’s possible the two locations serve different purposes.
edit: OH except for mortgage stuff. They are SO old fashioned in that regard that it was a bit of a shock to my system that I had to TALK TO PEOPLE and they wanted to MEET IN PERSON. It was very off-putting. I would have for sure done another refi by now if some pioneering genius would eliminate all the CALL US TO TALK ABOUT THIS SHIT nonsense and just let me click my way through a refi. I didn't click on "I'm interested in refinance options" so I could be presented with a phone number and no other options, ya doofus. </rant>