Please note that the table excludes the existing Truman Corner Shopping Center, which will be redeveloped into the proposed Truman’s Marketplace. There is about 2.5 million SF of retail space in major centers located within five miles of the site. About 40% of this space is within three miles of the site. The further away the center is from the redevelopment site the less likely it will provide competition with Truman’s Marketplace. In our opinion, retail centers such as Ward Parkway, Stateline Station and those in Leawood are far enough away that they would serve a separate market. Even much of the space within three miles of the site is predominately older, poorly maintained product that may not effectively compete with the proposed project. Just beyond the five mile radius from the site are several newer retail centers that either were developed or will be developed by principals of Legacy Truman. All of these properties are located in Lee’s Summit and represent major concentrations of retail and restaurant space at the I-470 and US 50/MO 350 interchange. Retail centers and major tenants at this location include: • Summit Woods Crossings (801,000 SF): o Includes Kohl’s, Bed Bath & Beyond, Bath & Body Works, Old Navy, TJ Maxx, Office Depot, Michael’s, Dick’s Sporting Goods, Best Buy, Target, Lowe’s, PetCo, Famous Footwear, Payless Shoes, Claire’s, Eddie Bauer Outlet, Lane Bryant, Men’s Wearhouse, Kirkland’s, Justice Brothers, Claire’s, Ulta, Mattress Firm, Pier 1
The socioeconomic significance of malls is seen through visual culture, where the mall has become a place to meet up with friends and family, on any day of the week – weekends being the busiest. Hence “the mall has become a centre of life, where the most memorable moments, holidays and birthdays are spent, dinners are held all under one roof” (Stokrocki 80). In Toronto the two largest malls I explored were the Toronto Eaton’s Centre and Yorkdale Mall – both of which included over 200 stores, eateries, rainforest cafés, and a movie theatre. However what was evident about these two malls apart from the rest included anti social behaviours despite families being grouped together. Although people were together, the sense of togetherness was plastic just like the manikins of store displays. It appeared as though families were shopping just as an excuse to go out as a “family” even though children, teens and adults would disperse into the stores of their choice and meet up at the end for a takeout meal, contacting each other through their phones. In addition to this observation included the fact that families shopping with other families or family friends were more of an exploitation of social and economic class. People being able to spend at stores like Michael Kors, Coach, Tory Burch, Abercrombie & Fitch, Lululemon, Kate Spade and many more, without worrying about going over budget meant being affluent. What really needs to be questioned is the idea that if these people spend at
This overall adds up to 2 million square feet of retail space (Michel page, 2006). Over all providing easy accessibility to the store.
Reasons for this specific site are because of excellent road links for distribution and particularly customers, a good public transport system and land available for sale suitable for new store.
In Nightingale Square, a small run down ‘mom & pop’ grocery store, a newly updated/built Downtown Store. I noticed many vehicles parked on the streets and residents walking the streets.
4) Location- Decisions about where to locate a store are critical to any retailer’s success. Location decisions are particularly important because of their high cost, long-term commitment and impact on customer patronage. Choosing a particular location type involves evaluating a series of trade-offs. These trade-offs generally include the occupancy cost of location, the pedestrian and vehicle customer traffic associated with the location, the restrictions placed on the store operations by the property managers, and the convince of the location for customers.
These remarkable business owners are major contributors to revitalizing downtown Burlington City. Included in this Black Wall Street model is top fashion establishments Vitura and Rita’s Rack to ensure shoppers have access to the latest in upscale apparel. And to help manage the savings derived from shopping downtown Burlington City is A & S Financial
With these stores removed from both neighborhoods, where are the residents of those neighborhoods supposed to shop? And with the removal of the stores, what impetus do the few other grocers have to keep prices reasonable for people of that socio-economic level?
For years, the overriding hope for officials, business owners and many residents of the city of Seminole was for Seminole Mall to be rebuilt and bring with it a vibrant shopping destination that would usher in jobs and prosperity. That goal seems within grasp now that developers have proposed tearing down the existing structure and building a spiffy, more modern design with room for a 12-screen movie complex, a fitness center, retail shops and restaurants (Lindberg, July 31, 2014). In this section, the redevelopment of the Seminole Mall into the new Seminole City Center will be discussed; furthermore, the assessment and analysis of the effectiveness of the policy initiative, with regards to the economic foresight and in relation to other city improvements.
Will the new building owner want to renew the stores lease? Keeping the New Sudbury location open where competitor West 49 is moving in will affect store sales. Is it worth the risk to keep that location open? This store has been open at this location for 10 years and is well known by customers. St. Marseille worries about the success of the New Sudbury location once West 49 opens and estimates that in fiscal year 2004 annual store sales at this location would total $350,000 and all other expenses would remain comparatively stable.
Melon would own and operate the shopping center and generate revenue by renting space to
We have completed our project in the city of Ashland, Kentucky. If our marketing research is favorable we will opt for a storefront building in the old downtown section of South Ashland.
The obvious concern regarding the Whalen Court project is the large initial investment required to get it off the ground. Of this cost, the most pressing financial concern is the requirement of leasing the building as opposed to building and owning its own store. As a result, our measures of profitability are not as attractive due to the high costs of doing business in an urban environment. This is reflected in how it measures up to the prototype Target store. Although the sales generated absolutely crush the prototype sales, the total net investment exceeds that of the prototype by $90
The tenant structure of the shopping center is an important factor in ensuring rent is adequate to make the project viable. The fact that Philipp conceded the hypermarket could have a negative effect on the overriding success of the project. ECE strategy typically relied on these large self-service retail stores. Hypermarkets are very desirable to customers since the warehouse structure enable the stores to offer a wide variety of products (i.e. fresh food, beverages, home supplies, electronics, clothing, car accessories, garden furniture etc.) at discounted prices. This lack of a hypermarket must be offset by assurance and
Rue 21 is one of the many retailers that are geared towards teens, however what set them apart from the rest is their affordability. This company strives to keep all of its merchandise under 35 dollars. Rue 21 has locations in various strip malls with 52 percent, regional mall 31 percent and outlet centers 17 there are pros and cons that affect the company for each of them (Berman, 2009). Having this store in a strip center can be a really great thing for consumers put not such a positive thing for the company as a whole. The positive to a strip mall is that it is easily accessible for customers to find and shop at the location. Strip malls have less congestion when it comes to parking, which makes for a more pleasurable for shoppers like
The Hawkins Company is a real estate developer, who is operating across UK, offering different types of services, such as: Mortgages, Energy Performance Certificates, Sales and Lettings. They are interested in having Discount Marketplace as a tenant in a proposed shopping center. The Discount Marketplace is an innovative national retailer with the main activity focused on