Re: Three Light
Posted: Sun Sep 03, 2023 3:15 pm
I work for Commerce, my office is in the old Trust Building. The bank in the Walnut Lobby had clients in it everyday. They closed it and opened a new branch on corner of 10th & Main. They do get usedTheLastGentleman wrote: ↑Sun Sep 03, 2023 10:10 amI’m not sure I’ve ever seen a live human using a downtown bank
What do they use the lobby of the Commerce Trust Building for now?dukuboy1 wrote: ↑Sun Sep 03, 2023 9:06 pmI work for Commerce, my office is in the old Trust Building. The bank in the Walnut Lobby had clients in it everyday. They closed it and opened a new branch on corner of 10th & Main. They do get usedTheLastGentleman wrote: ↑Sun Sep 03, 2023 10:10 amI’m not sure I’ve ever seen a live human using a downtown bank
I don't have a problem with banks having locations downtown and I don't think kcp does either. Just the location.Chris Stritzel wrote: ↑Sun Sep 03, 2023 9:09 pm I use both the PNC and Commerce branches downtown often. I like doing my most important banking and visits in-person instead of virtually or through an app. Having someone I can ask questions to about an issue that arises is helpful.
For the 3 Light space, I could see Chase or FNBO going in. Both are growing their local presence a bit.
Staff at the Plaza capital one report they are not looking at a downtown location at this time. rules them outWoodDraw wrote: ↑Mon Sep 04, 2023 1:07 amI don't have a problem with banks having locations downtown and I don't think kcp does either. Just the location.Chris Stritzel wrote: ↑Sun Sep 03, 2023 9:09 pm I use both the PNC and Commerce branches downtown often. I like doing my most important banking and visits in-person instead of virtually or through an app. Having someone I can ask questions to about an issue that arises is helpful.
For the 3 Light space, I could see Chase or FNBO going in. Both are growing their local presence a bit.
This tells me their commercial renting is pretty rough. Which is understandable, but not fun.
Banks are reliable though! They pay rent!
This forum is a good representation of the urban neighborhood. Do you think any 3L renter is going to be super excited for Bank of the West to open up downstairs? It's just not an amenity. I'd say that for the bank at 10th and Main, 14th, or 16th, or 19th. It might as well be empty. Cordish signing a bank doesn't show they are good at leasing.DColeKC wrote: ↑Sun Sep 03, 2023 1:22 pmWell, they could have opened up without a tenant and held out for something that would make this forum happier but then they're accused of not being good at leasing.KCPowercat wrote: ↑Sun Sep 03, 2023 12:08 pmDoes another bank make anybody happy (except those getting the rent money)?
Doesn't even produce sales tax income for the city. It's just the lowest of the low for all interested parties.
Correct. Banks have their place but this space was once rumored for an urban target and now we're down to just another bank who is there as it's good advertising on the streetcar line. Great for Cordish to get a rentpayer in there but man doesn't do much for the neighborhood. If you DO like to have a branch downtown for your bank, there were already plenty of options and easy to switch banks now a days.WoodDraw wrote: ↑Mon Sep 04, 2023 1:07 amI don't have a problem with banks having locations downtown and I don't think kcp does either. Just the location.Chris Stritzel wrote: ↑Sun Sep 03, 2023 9:09 pm I use both the PNC and Commerce branches downtown often. I like doing my most important banking and visits in-person instead of virtually or through an app. Having someone I can ask questions to about an issue that arises is helpful.
For the 3 Light space, I could see Chase or FNBO going in. Both are growing their local presence a bit.
This tells me their commercial renting is pretty rough. Which is understandable, but not fun.
Banks are reliable though! They pay rent!
"target" is sprinkled throughout this thread and others discussing this building. Obviously now looking at the unfinished space, one wouldn't have fit in what was created.
Ground-level retail spaces within residential buildings are not necessarily designed solely for the convenience of residents. Banks, for instance, make excellent tenants and continue to be in demand, despite anecdotal suggestions to the contrary.KCPowercat wrote: ↑Mon Sep 04, 2023 9:33 amThis forum is a good representation of the urban neighborhood. Do you think any 3L renter is going to be super excited for Bank of the West to open up downstairs? It's just not an amenity. I'd say that for the bank at 10th and Main, 14th, or 16th, or 19th. It might as well be empty. Cordish signing a bank doesn't show they are good at leasing.DColeKC wrote: ↑Sun Sep 03, 2023 1:22 pmWell, they could have opened up without a tenant and held out for something that would make this forum happier but then they're accused of not being good at leasing.KCPowercat wrote: ↑Sun Sep 03, 2023 12:08 pm
Does another bank make anybody happy (except those getting the rent money)?
Doesn't even produce sales tax income for the city. It's just the lowest of the low for all interested parties.
I literally said the only interest a bank helps is the developer. Thanks for confirming that.DColeKC wrote: ↑Mon Sep 04, 2023 11:44 amGround-level retail spaces within residential buildings are not necessarily designed solely for the convenience of residents. Banks, for instance, make excellent tenants and continue to be in demand, despite anecdotal suggestions to the contrary.KCPowercat wrote: ↑Mon Sep 04, 2023 9:33 amThis forum is a good representation of the urban neighborhood. Do you think any 3L renter is going to be super excited for Bank of the West to open up downstairs? It's just not an amenity. I'd say that for the bank at 10th and Main, 14th, or 16th, or 19th. It might as well be empty. Cordish signing a bank doesn't show they are good at leasing.
A few of you need to put an end to the baseless debate surrounding Cordish's leasing capabilities. Some individuals who enjoy making snide remarks on this topic are misinformed, and their comments only reveal their lack of understanding. It's an unreasonable viewpoint to assert that a developer with financial obligations wouldn't be fully committed to maximizing revenue to meet those obligations. While constructive suggestions and opinions are welcome, these jabs serve no purpose other than tarnishing the reputation of this forum within the developer and downtown stakeholder community.
Would the same argument be made if the residential towers were struggling to fill up? Would we then label the developer as inept at leasing, or would we acknowledge the multifaceted nature of the issue? It's important to recognize that commercial leasing is considerably more challenging than residential leasing, with numerous intricate factors at play.
KCPowercat wrote: ↑Mon Sep 04, 2023 12:00 pmI literally said the only interest a bank helps is the developer. Thanks for confirming that.DColeKC wrote: ↑Mon Sep 04, 2023 11:44 amGround-level retail spaces within residential buildings are not necessarily designed solely for the convenience of residents. Banks, for instance, make excellent tenants and continue to be in demand, despite anecdotal suggestions to the contrary.KCPowercat wrote: ↑Mon Sep 04, 2023 9:33 am
This forum is a good representation of the urban neighborhood. Do you think any 3L renter is going to be super excited for Bank of the West to open up downstairs? It's just not an amenity. I'd say that for the bank at 10th and Main, 14th, or 16th, or 19th. It might as well be empty. Cordish signing a bank doesn't show they are good at leasing.
A few of you need to put an end to the baseless debate surrounding Cordish's leasing capabilities. Some individuals who enjoy making snide remarks on this topic are misinformed, and their comments only reveal their lack of understanding. It's an unreasonable viewpoint to assert that a developer with financial obligations wouldn't be fully committed to maximizing revenue to meet those obligations. While constructive suggestions and opinions are welcome, these jabs serve no purpose other than tarnishing the reputation of this forum within the developer and downtown stakeholder community.
Would the same argument be made if the residential towers were struggling to fill up? Would we then label the developer as inept at leasing, or would we acknowledge the multifaceted nature of the issue? It's important to recognize that commercial leasing is considerably more challenging than residential leasing, with numerous intricate factors at play.
Not sure why you think these are snide remarks? As a potential customer and current neighbor I feel this is a very valid viewpoint. Sorry if it sounds mean.
Once again, it's evident that there's a gap in your understanding of the situation.KCPowercat wrote: ↑Mon Sep 04, 2023 12:21 pm That space has a huge number of advantages i pointed out earlier. One that should get a higher value tenant than another bank.
We keep getting teased on here that cordish has all these tenants about ready to sign yet all we actually see is closing stores and banks opening. It's underwhelming to say the least for such a powerful developer. Town pavilion is signing better tenants
Not to mention each of these just further the burden on the general fund of the city with no sales tax coming in eth tenants like a bank