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  #1341  
Old Posted Jul 25, 2017, 6:52 PM
Londonee Londonee is offline
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Originally Posted by Parkway View Post
Wasn't Iron Hill also in the first tower? I would expect both of those business to take up a significant amount of space. Total we have: Wawa, City Fitness, The furniture store, Iron Hill, and Mom's.
Remember, Moms is not part of the towers but the stand alone rehabbed building at 34 S. 11th Street. Same "project" but different building. Iron Hill, WaWa, and City Fitness are all apart of Tower 2. The only store announced for Tower 1 is the DWR.

2 Pages ago we even broke down how much sf was left to lease in the new construction Towers:

Quote:
Originally Posted by Londonee View Post
Some? Someone did the math upthread - they have tens of thousands of square feet still to fill here. If your retail mix is a WaWa, a Microbrew chain, a gym, and a DWR - none of which are actual retail - you're not going to be very successful.

Edit. I just did the math. The two building's have 105,000 sf of retail.
Iron Hill - 8,450
Wawa - 6,200
DWR - 15,000
City Fitness - 27,000

Total left: 48,350

Which can be something like 10-15 smaller retailers, or 3-5 fast-fashion type places.
Edit to add: observationally the national retailer market for Philly has really hit the skids. My assumption has been that retailers are in a wait-and-see mode with Market East (Fashion Outlets/THe Gallery and East Market). If you're French Connection, why commit to $100/sf rent on Walnut, when you may be able to land a spot in the Gallery or East Market for half that? Maybe some other retailers who were thinking of opening a full store, are now hitting pause and considering opening up a cheaper/less visible Outlet store in the Gallery. But Walnut has quite a few long-standing vacancies on prime blocks with little movement in a while and I don't think it's a coincidence. Which begs the question can Philly sustain 2 large, but separate retail corridors just half-a-mile apart?

Last edited by Londonee; Jul 25, 2017 at 7:12 PM.
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  #1342  
Old Posted Jul 25, 2017, 7:44 PM
1487 1487 is offline
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Quote:
Originally Posted by Londonee View Post
Remember, Moms is not part of the towers but the stand alone rehabbed building at 34 S. 11th Street. Same "project" but different building. Iron Hill, WaWa, and City Fitness are all apart of Tower 2. The only store announced for Tower 1 is the DWR.

2 Pages ago we even broke down how much sf was left to lease in the new construction Towers:



Edit to add: observationally the national retailer market for Philly has really hit the skids. My assumption has been that retailers are in a wait-and-see mode with Market East (Fashion Outlets/THe Gallery and East Market). If you're French Connection, why commit to $100/sf rent on Walnut, when you may be able to land a spot in the Gallery or East Market for half that? Maybe some other retailers who were thinking of opening a full store, are now hitting pause and considering opening up a cheaper/less visible Outlet store in the Gallery. But Walnut has quite a few long-standing vacancies on prime blocks with little movement in a while and I don't think it's a coincidence. Which begs the question can Philly sustain 2 large, but separate retail corridors just half-a-mile apart?
well 2 leases were just announced for Walnut including a big one in the 1400 block. I assume whatever goes in FOP is generally going to be lower end than Walnut. I also assume FOP is going to rely heavily on non retail tenants like restaurants and a movie theater. Overall though its an interesting time to be debuting so much new retail space due to the fact many familiar names are downsizing or going out of business. The advantage the potential spaces have on the east side is they are much closer to the convention center and can easily tap that market. Also, more modern and constraint free spaces for rent vs older buildings on Chestnut or Walnut.
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  #1343  
Old Posted Jul 25, 2017, 8:35 PM
Londonee Londonee is offline
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Originally Posted by 1487 View Post
well 2 leases were just announced for Walnut including a big one in the 1400 block. I assume whatever goes in FOP is generally going to be lower end than Walnut. I also assume FOP is going to rely heavily on non retail tenants like restaurants and a movie theater. Overall though its an interesting time to be debuting so much new retail space due to the fact many familiar names are downsizing or going out of business. The advantage the potential spaces have on the east side is they are much closer to the convention center and can easily tap that market. Also, more modern and constraint free spaces for rent vs older buildings on Chestnut or Walnut.
Yeah Untuckit i could take or leave, but CB2 is a great addition especially for locals. Ironically, I feel like CB2 would have been better served in a location like East Market in a newer fit-out, larger footprint, and cheaper rents for their second-tier line.
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  #1344  
Old Posted Yesterday, 6:35 PM
TallCoolOne TallCoolOne is offline
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From BLT Architects - Instagram:






Iron Hill - Instagram:

https://www.instagram.com/p/BQMMbJ4j...ronhillbrewery

The brewery at the beginning of the walk between the two buildings- off of Market Street should be a hit. I imagine outdoor seating in the spring/summer... looking forward to it.
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  #1345  
Old Posted Yesterday, 7:41 PM
3rd&Brown 3rd&Brown is offline
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Originally Posted by Londonee View Post
Yeah Untuckit i could take or leave, but CB2 is a great addition especially for locals. Ironically, I feel like CB2 would have been better served in a location like East Market in a newer fit-out, larger footprint, and cheaper rents for their second-tier line.
I agree.

With the Design Center going there and West Elm being East of Broad, it seems like there would have been more synergy going east of Broad, not West.

But happy to have a productive use for those store fronts on the 1400 block.
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