by djc311 » Thu Apr 13, 2006 10:40 am
I can vouch for the fact there's definitely serious discussions w/ a major coffee player in Omaha for the corner. We were supposed to take the inside bay, but at $16+ a sq. ft. in Dundee & without virtually any tenant improvements, it makes it really tought to justify that kind of rent in that area....
Just look around; everyone that has been there for years is now gone because the owners of the buildings have at least doubled their rent rates in the last couple of years. Why do you think the entire north side of Underwood past 50th is empty? Other than the radio stations, all of the other spaces sit vacant...
Sure, there's a few others up there that have lasted, but a lot of them own their buildings. The sports bar on the SE corner has been about 5 different restaurants in the last 10 or so years. Ellada's is probably going to close, which is behind the corner bay that the coffee shop is supposed to take over. Also, if a nice new coffee business goes into the Baum building, don't you think the coffee shop behind AB's 66 will be forced out?
If that's the case, then that bay would have been about 3 businesses over the last 10-15 years (Baskin Robbins, Ashby's and now the coffee place.)
I really like the potentail with that area, but as of right now, the Dundee area sits about 1/2 empty. I need something that makes sense, isn't too awfully large, and doesn't cost $20 sq ft with TI being amortized into the rent....
D
I can vouch for the fact there's definitely serious discussions w/ a major coffee player in Omaha for the corner. We were supposed to take the inside bay, but at $16+ a sq. ft. in Dundee & without virtually any tenant improvements, it makes it really tought to justify that kind of rent in that area....
Just look around; everyone that has been there for years is now gone because the owners of the buildings have at least doubled their rent rates in the last couple of years. Why do you think the entire north side of Underwood past 50th is empty? Other than the radio stations, all of the other spaces sit vacant...
Sure, there's a few others up there that have lasted, but a lot of them own their buildings. The sports bar on the SE corner has been about 5 different restaurants in the last 10 or so years. Ellada's is probably going to close, which is behind the corner bay that the coffee shop is supposed to take over. Also, if a nice new coffee business goes into the Baum building, don't you think the coffee shop behind AB's 66 will be forced out?
If that's the case, then that bay would have been about 3 businesses over the last 10-15 years (Baskin Robbins, Ashby's and now the coffee place.)
I really like the potentail with that area, but as of right now, the Dundee area sits about 1/2 empty. I need something that makes sense, isn't too awfully large, and doesn't cost $20 sq ft with TI being amortized into the rent....
D