KCRag Forum

I maybe misremembering but I swore we were told on here that Cordish wouldn't sacrifice their leasing rent prices just to "fill a space"

KCPowercat wrote: ↑Fri Jan 21, 2022 3:03 pm I maybe misremembering but I swore we were told on here that Cordish wouldn't sacrifice their leasing rent prices just to "fill a space"

They’re just like any other landlord and each space is negotiable. Why do you think the Dubliner still exists? It’s not paying even 1/4th what Ragland Road paid for the same space. Cordish would rather have it occupied for something than empty for nothing but they can’t discount every space just to get them filled or else every tenant would expect to renegotiate. So yes. In some instances holding out for more money and having an empty space is the better option. Each lease is unique. Some feature lower monthly rent but the landlord gets a percentage of profits after a certain threshold is reached. Some have a very high monthly rent but a very low percentage of profits after a very high income level.

DColeKC wrote: ↑Fri Jan 21, 2022 4:39 pm

KCPowercat wrote: ↑Fri Jan 21, 2022 3:03 pm I maybe misremembering but I swore we were told on here that Cordish wouldn't sacrifice their leasing rent prices just to "fill a space"

Why do you think the Dubliner still exists? It’s not paying even 1/4th what Ragland Road paid for the same space.

Should have cut Ragland Roads rent before they left. Made a bad play.

beautyfromashes wrote: ↑Fri Jan 21, 2022 4:47 pm

DColeKC wrote: ↑Fri Jan 21, 2022 4:39 pm

KCPowercat wrote: ↑Fri Jan 21, 2022 3:03 pm I maybe misremembering but I swore we were told on here that Cordish wouldn't sacrifice their leasing rent prices just to "fill a space"

Why do you think the Dubliner still exists? It’s not paying even 1/4th what Ragland Road paid for the same space.

Should have cut Ragland Roads rent before they left. Made a bad play.

Ragland Road made a bad play by overspending on the build out by a few million dollars. They could have had the space rent free and it still would have failed. Cordish will work with local owners more than national chains as they want local owners and concepts in the district.

DColeKC wrote: ↑Fri Jan 21, 2022 7:37 pm Cordish will work with local owners more than national chains as they want local owners and concepts in the district.

Good to hear! I have been pushing that for a decade.

beautyfromashes wrote: ↑Fri Jan 21, 2022 9:50 pm

DColeKC wrote: ↑Fri Jan 21, 2022 7:37 pm Cordish will work with local owners more than national chains as they want local owners and concepts in the district.

Good to hear! I have been pushing that for a decade.

It's amazing how out of town places like Cordish are better local stewards than most local firms.