Originally Posted by SamInTheLoop
and disclaimer I know all about this stuff (I'm a bit of a cinephile, and RC as soon as it opened has been my - by far - #1 destination for hollywood movies - both by foot and car as far as transport there),
Disclaimer: I'm a bit of a commercial real estate broker and I know all about this stuff.
I know what it means to try to market a tough property and this is definitely a tough property. I can tell you right away that if ground breaks on this new project RC isn't going to be getting any premium tenants because they will all go directly to this proposal, not the backward ass RC. The only tenants RC will be able to secure will probably be crappy discounter retailers. That's not to mention the negative reputation RC has in the marketplace now which is giving it a case of "dead mall syndrome" where no one wants to be the first to take the plunge and sign a lease in a mostly empty building. This is the same thing that's going on at B37 (though the lender further complicated that).
The primary concern for retail tenants is not price or quality of the building, it's location, access, and visibility. This building has NONE of those. I could end up eating crow and should know better than to bet against McCaffery, but I see the retail at RC going nowhere fast.