Village Pointe (SWC 168 & West Dodge)

[djc311]

Federal Realty Investment Trust has acquired Village Pointe for $153.3 million.

Wonder if that is a good or bad thing.

Shoot, I should have mentioned that on here - when my wife and I attended the soft opening at North Italia there was a woman who we ran into that said she learned it had just been sold off by Red Development. According to her comments, she said this new owner is known to bring in high end retailers. I don't know how many vacancies currently exist at VP, but I'd find it hard to believe they could start bringing in places like Louis Vuitton, Tiffany's, Jimmy Choo, etc... but who knows.

[Louie]

Federal Realty Investment Trust has acquired Village Pointe for $153.3 million.

Wonder if that is a good or bad thing.

Their website showcases some nicer looking shopping plazas, probably a good thing.

[Greg S]

Grow Omaha reporting on a new smaller upscale department store is huge news for Village Pointe. Nice way to keep the momentum of landing and opening the Nordstrom's Rack. If it is Halls I never really thought I would see the day they opened a new one, let alone in Omaha.

[djc311]

Grow Omaha reporting on a new smaller upscale department store is huge news for Village Pointe. Nice way to keep the momentum of landing and opening the Nordstrom's Rack. If it is Halls I never really thought I would see the day they opened a new one, let alone in Omaha.

I saw that this morning as well. It also makes sense why Red Development stated they're not aware of any demolition considering they no longer own the property. And the current owners simply didn't respond.

Nice get for the area - actually surprised it's not going up the street at 192nd at Avenue One.

[Brad]

Grow Omaha reporting on a new smaller upscale department store is huge news for Village Pointe. Nice way to keep the momentum of landing and opening the Nordstrom's Rack. If it is Halls I never really thought I would see the day they opened a new one, let alone in Omaha.

Discussed that a little over here:
https://www.eomahaforums.com/viewtopic.php?t=26061

I just added additional details to it too.

[BIGO88]

Frost Gelato is opening up a location here.

https://www.frostgelato.com/location/village-pointe/

[NEDodger]

The old Funny Bone space has been leased out.

They had signs for an Escape Room and a Game Show Live location.

[Garrett]

Escape rooms are a bit played out at this point, we'll see if it lasts.

[djc311]

Escape rooms are a bit played out at this point, we'll see if it lasts.

I didn't even think we still had any dedicated businesses doing only escape rooms. I believe Spare Time still has 1-2 of them in their facility.

Unless they come in and do a remodel, I imagine the concept/goal of the room remains the same even if you go back at another time? Perhaps not, but I don't know anyone that's said they wanted to go to one.

[nativeomahan]

Umm, the popularity of these places just escapes me.

[Greg S]

The old Funny Bone space has been leased out.

They had signs for an Escape Room and a Game Show Live location.

The Game Show Live sounds interesting to me.

[plaidguy]

On the Red Development leasing site for Village Pointe, it shows Fogo De Chao as taking over the building vacated by Kona Grill. The nearest ones to Omaha currently are in Kansas City or the Chicago area.

My guess regarding the Halls building permit is that the Bentley dealer will relocate, they tear down that building, and construct a new two story one. Nordstrom Rack and Best Buy don’t seem to be going anywhere, so that just leaves that building. The Bentley building is around 25,000sf which would fit the footprint of the Halls building.

[djc311]

On the Red Development leasing site for Village Pointe, it shows Fogo De Chao as taking over the building vacated by Kona Grill. The nearest ones to Omaha currently are in Kansas City or the Chicago area.

My guess regarding the Halls building permit is that the Bentley dealer will relocate, they tear down that building, and construct a new two story one. Nordstrom Rack and Best Buy don’t seem to be going anywhere, so that just leaves that building. The Bentley building is around 25,000sf which would fit the footprint of the Halls building.

Halls as in the Hallmark-owned place? I was wondering if that was still in the plan as I thought a permit had been applied for (or issued) already. Seems like nothing has happened for awhile.

I always thought Bentley and the bar being out there were a bit odd. I understand it's more upscale shopping center, but just seems a little obscure to drop a high-end car dealership in what's basically a strip mall. I assume they'd move further west up Dodge St if that's really what's going on.

[BuildTaller]

I understand it's more upscale shopping center

Old Navy bro

[djc311]

I understand it's more upscale shopping center

Old Navy bro

No Marshalls, No Home Goods, No TJ Maxx... it's more "upscale" than Shadow Lake with the Ace Hardware and Five Below. Just sayin'. Maybe it's not Avenue One or Regency, but more upscale than most.

[nebport5]

I understand it's more upscale shopping center

Old Navy bro

No Marshalls, No Home Goods, No TJ Maxx... it's more "upscale" than Shadow Lake with the Ace Hardware and Five Below. Just sayin'. Maybe it's not Avenue One or Regency, but more upscale than most.

I would put all those above Old Navy, which is the poor man's Gap(the poorer man's Banana Republic).

Five Below yes, and no Ross(poor man's TJ Maxx, etc) would make a better comparison. Now Ace, FWIW is expensive AF.

I get your point however. VP maybe has something for everyone and while the apparent intentions of the new owners is to push VP more upscale it's already above average compared to other area shopping centers.

[djc311]

I understand it's more upscale shopping center

Old Navy bro

No Marshalls, No Home Goods, No TJ Maxx... it's more "upscale" than Shadow Lake with the Ace Hardware and Five Below. Just sayin'. Maybe it's not Avenue One or Regency, but more upscale than most.

I would put all those above Old Navy, which is the poor man's Gap(the poorer man's Banana Republic).

Five Below yes, and no Ross(poor man's TJ Maxx, etc) would make a better comparison. Now Ace, FWIW is expensive AF.

I get your point however. VP maybe has something for everyone and while the apparent intentions of the new owners is to push VP more upscale it's already above average compared to other area shopping centers.

Agree 100% on the Ace Hardware pricing... I do believe perception would go considerably downhill if VP ended up with a hardware store. I also agree with your other points.

I imagine Bentley would not have opened in any other shopping center in the Omaha area, aside from maybe Avenue One. Possibly Regency, however due to space constraints, that wouldn't have happened.

[nebport5]

I understand it's more upscale shopping center

Old Navy bro

No Marshalls, No Home Goods, No TJ Maxx... it's more "upscale" than Shadow Lake with the Ace Hardware and Five Below. Just sayin'. Maybe it's not Avenue One or Regency, but more upscale than most.

I would put all those above Old Navy, which is the poor man's Gap(the poorer man's Banana Republic).

Five Below yes, and no Ross(poor man's TJ Maxx, etc) would make a better comparison. Now Ace, FWIW is expensive AF.

I get your point however. VP maybe has something for everyone and while the apparent intentions of the new owners is to push VP more upscale it's already above average compared to other area shopping centers.

Agree 100% on the Ace Hardware pricing... I do believe perception would go considerably downhill if VP ended up with a hardware store. I also agree with your other points.

I imagine Bentley would not have opened in any other shopping center in the Omaha area, aside from maybe Avenue One. Possibly Regency, however due to space constraints, that wouldn't have happened.

Agreed.

[Brad]

On the Red Development leasing site for Village Pointe, it shows Fogo De Chao as taking over the building vacated by Kona Grill. The nearest ones to Omaha currently are in Kansas City or the Chicago area.

Grow Omaha reported this week that Fogo De Chao now has a building permit.

[Brad]

I have been super busy this week and haven't spent as much time online. There is a new Grow Omaha article that mentions both Fogo de Chão and Whole Foods have permits:

Building Permit Indicates Fogo de Chão Plans to Open at Village Pointe

https://growomaha.com/building-permit-i ... ge-pointe/

Fogo de Chão, a chain of upscale Brazilian steakhouses, appears to be planning to open a restaurant at Village Pointe Shopping Center, according to a pending building permit filed with the City of Omaha on September 18. The address listed is 295 North 170th Street, which is the former Kona Grill building immediately south of the recently opened KPOT Koran BBQ & Hot Pot.

The master address for that parcel is 225 North 170th Street. Another pending building permit for signage installation on that same parcel, mentions “Whole Foods” in the accompanying description. A Whole Foods representative at the brand’s existing supermarket in Regency said he was not aware of any plans for a second store in Omaha.

The filing of a building permit does not guarantee that a given project will come to fruition or an identified business will actually open.

Last April, a building permit was filed for the same Village Pointe parcel, indicating that one of the buildings on the site would be demolished and replaced with a 40,000 sq. ft., luxury department store identified in the notes as “Halls KC.” That building permit no longer appears on the City of Omaha’s permits website.

[nebport5]

That's interesting if Whole Foods goes into that part of V.P.

Avenue One seemed like a more likely destination. I can't imagine it would be a very big store.
None the less, even a smaller W.F. would make an already messy traffic flow much worse.

[JDirte]

Whole Foods going back to their original building like 20 years later? I think they were just too early to market last time. I think West Omaha at that spot would support it this time.

[nebugeater]

That's interesting if Whole Foods goes into that part of V.P.

Avenue One seemed like a more likely destination. I can't imagine it would be a very big store.
None the less, even a smaller W.F. would make an already messy traffic flow much worse.

My assumption is there is no way Whole Foods would go to Avenue One with Trader Joe's going there. I almost guarantee that the TJ lease / agreement has provisions for no other grocery store in the development footprint

[djc311]

That's interesting if Whole Foods goes into that part of V.P.

Avenue One seemed like a more likely destination. I can't imagine it would be a very big store.
None the less, even a smaller W.F. would make an already messy traffic flow much worse.

Always been my biggest gripe with that area - parking. I understand they tried to fit as much as possible into a relatively narrow strip, but parking is horrid. Especially during peak seasons. Putting a Whole Foods out there will make it significantly worse (if that's possible).

Not sure who designs these center's traffic flows, but VP is awful and the L St Marketplace by Home Depot/Target/etc near 127th & L St is among the worst in Omaha.

[nebport5]

That's interesting if Whole Foods goes into that part of V.P.

Avenue One seemed like a more likely destination. I can't imagine it would be a very big store.
None the less, even a smaller W.F. would make an already messy traffic flow much worse.

Always been my biggest gripe with that area - parking. I understand they tried to fit as much as possible into a relatively narrow strip, but parking is horrid. Especially during peak seasons. Putting a Whole Foods out there will make it significantly worse (if that's possible).

Not sure who designs these center's traffic flows, but VP is awful and the L St Marketplace by Home Depot/Target/etc near 127th & L St is among the worst in Omaha.

Agreed. I avoid L St like the plague for this reason. I also think Avenue One will be a huge mess.

[Greg S]

Whole Foods going back to their original building like 20 years later? I think they were just too early to market last time. I think West Omaha at that spot would support it this time.

I'm confused. Whole Foods is already here and still in their original spot on Regency Pkwy. That originally was a Shepler's western store. It's a very large Whole Foods.

[JDirte]

Whole Foods going back to their original building like 20 years later? I think they were just too early to market last time. I think West Omaha at that spot would support it this time.

I'm confused. Whole Foods is already here and still in their original spot on Regency Pkwy. That originally was a Shepler's western store. It's a very large Whole Foods.

I misremembered looks like it was a Wild Oats not a Whole Foods.

[nebport5]

That's interesting if Whole Foods goes into that part of V.P.

Avenue One seemed like a more likely destination. I can't imagine it would be a very big store.
None the less, even a smaller W.F. would make an already messy traffic flow much worse.

My assumption is there is no way Whole Foods would go to Avenue One with Trader Joe's going there. I almost guarantee that the TJ lease / agreement has provisions for no other grocery store in the development footprint

Yes, I'm aware of the non-compete clauses but there are cases where they are in the same shopping center. Because AO is a sizable development and has the Good Life designation I thought that could be a possibility here. Most often, WF and TJ's are near each other but not right on top of each other which is typically mutually beneficial.

I've said before that I believe many WF shoppers also shop at TJ's, but not everyone who shops at TJ's shops at WF. Personally I don't understand how anyone can do all their shopping at TJ's unless they're a poor college student or someone who eats a lot of crappy snacks.

[djc311]

Whole Foods going back to their original building like 20 years later? I think they were just too early to market last time. I think West Omaha at that spot would support it this time.

I'm confused. Whole Foods is already here and still in their original spot on Regency Pkwy. That originally was a Shepler's western store. It's a very large Whole Foods.

Honestly, I don't get it either. Unlike Trader Joe's, I feel like Whole Foods could pretty much succeed as a single store location as a destination retailer. Trader Joe's, IMO, could/should be more like an Aldi and could likely have 3-4 stores around the metro to cover the demand.

Putting a Whole Foods in VP will make traffic much worse than it already is. Also, if that Hallmark-owned concept already backed out, why? I can understand if you're simply shopping the area but why go so far as to apply for permits to build, only to back out? Signing a tentative agreement as a renter is one thing, but seeking construction approval seems more involved and like a considerable waste of time if you don't even know if you're going to construct a building.

[Ben]

Sorry if I've missed it, but where is the Whole Foods going? Taking over the Barnato/Bentley/Woodhouse space? Or Nordstrom Rack? Or Best Buy? None have announced impending closures, have they?

If either of the 2 on 168, at least there's that entrance on the east side of the development off 168 that can funnel some traffic. But if they take Best Buy, back in that corner, yeah, that might be a mess car wise...

[Brad]

The Building Permit says "225 N 170 ST, Omaha" which is the Barnato/Bentley building but that's the address tied to that parcel of land and there are actually 5 buildings on that parcel. Fogo De Chao and Halls also used that address as well.

[Garrett]

The sign application does mention that it's going to be close to the 168th St entrance.

https://aca-prod.accela.com/OMAHA/Cap/C ... nspection=

WF's existing store in Regency is 55k sqft. For reference, the BestBuy on this parcel is 45k sqft. It's possible they could try to open up the store in another part of the mall with the sign at the entrance, but who knows.

[TitosBuritoBarn]

The sign application does mention that it's going to be close to the 168th St entrance.

https://aca-prod.accela.com/OMAHA/Cap/C ... nspection=

WF's existing store in Regency is 55k sqft. For reference, the BestBuy on this parcel is 45k sqft. It's possible they could try to open up the store in another part of the mall with the sign at the entrance, but who knows.

That makes more sense to me than them trying to open a store on the parcel with Best Buy etc., but I'm not really sure where else in Village Pointe has the appropriate amount of space available. Maybe the parking lot behind the movie theatre? Building there would probably necessitate a parking podium underneath.