Downtown Minneapolis Retail News

Downtown - North Loop - Mill District - Elliot Park - Loring Park
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FISHMANPET
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Re: Downtown Retail News

Postby FISHMANPET » November 20th, 2012, 9:15 am

I'm amazed there aren't more tailors downtown.

And there is a nice hat shop, Goorin Brothers that just opened... in Uptown.

twincitizen
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Re: Downtown Retail News

Postby twincitizen » November 20th, 2012, 9:43 am

Sub-topic: Reducing total retail space downtown

What are some retail/restaurant spaces that could or should be converted to something else?

I feel that no matter how high the downtown population climbs, there will always be a surplus of retail space in the core. This will be exacerbated as old people die and the world is increasing made up of people who are comfortable buying more things online.

I see that "Nic on 5th" is adding 2 stories of retail, wowzers. That's right across the street from the soon to be vacant Neiman Marcus space in Gaviidae. Not far from City Center, which is actually doing OK with corner tenants but could really use a revamp. Wondrous Azian Kitchen just went out of bizness and Chevy's Fresh Mex has been vacant FOREVER. Then there's Block E, which never should have happened in the first place.

Agree/disagree? What spaces would you convert from vacant/struggling retail to something else?

mnmike
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Re: Downtown Retail News

Postby mnmike » November 20th, 2012, 10:02 am

As for Hennepin is actually more filled than it has been in some time...with the following relatively new additions:

Lunds
Dudley Riggs
Rosa Mexicana
Cowles Center
Union
The two retail spaces in The Stage Apts
Butcher and the Boar
Murasu...or whatever that place in the Skyway theater building is
Whole Foods soon!

During the time all those places have opened...I think there has only been one closing? So that is a better track record than recent years at least.

I really hope with the new Nicollet building being built, that the owner of Gaviidae will take it as an opportunity to reinvest in the building and the old Neiman Marcus space. This will(hopefully soon) connect them directly to a big new apartment building and all of the office workers in the 5th street towers. I won't get my hopes up, as they haven't really put much money into the building for a while. It would be a good chance to open that space up. For the Neiman's space the top floor could be an expanded food court with a big skylight to brighten it(think southdales new food court). Probably office on the 3rd floor, and then blow open the 1st and second floors to make a big passage way to the LRT and skyway connection...maybe create a few moderate size retail spaces on the Nicollet side. I feel like if they did that, within a few years (with the new construction at that end of the mall), they could probably snag a couple bigger stores like an H&M or Nordstrom rack...something like that, or even a popular restaurant like on the southern end of the mall. I don't see any huge retail additions coming downtown really, but I could see a few high profile smaller scale stores coming with all the new construction and possible re-do of Nicollet Mall. Also, I am sure we will see the continued conversion of some of the surplus space to more appropriate uses (doctors offices and such) to balance things out.

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Re: Downtown Retail News

Postby Wedgeguy » November 20th, 2012, 10:55 am

I have to say to those who keep looking at the glass half full, the glass is again filling up. Like MnMike has said, retail in the downtown area is expanding. It is, at present, not expanding in what we call the traditional retail mass area. How many new stores have opened in the north loop in the last few years. I'm quite amazed by the stores and restraunts that have opened in the north loop that are not on Washington Ave. As a building owner you have to plan for the future. You have to have your building connect with the fabric of the city. Without retail on the first and second floor you are basically building a building that will have lifeless walls like the 6th and 7th street sides of City Center.

I would hope that they put a restraunt on the Nicollet end of the building with a large area for outdoor seating in the summer. HAve their bar on the Skyway level to get people who are walking in the skyway to come in for lunch or dinner. Reconnecting the Nic with Gavidee would be a big pull to help to keep the retail flowing north. Unfortunately Xcel will become a road block of sorts to continued retail going north. There does not need to be anymore full blown retail malls like CityCenter and the Gavidees. But you will need to have retail and service office space in the skyways and on the ground floor to service the ever growing DT population. Men's Wearhouse is on the Ground floor at 8th and Nicollet. They are not part of any real retail area per say. It is the only retail store on that level, yet that store does very well in that location.

We are coming out of a recession, we lost alot of retail in the past to other recessions, but this time we have an ever growing population that will be nearer to the stores and people will continue to be working downtown in the future. When it comes to DT I am an optimist. I see the half full glass not draining, but filling up again!

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Nathan
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Re: Downtown Retail News

Postby Nathan » November 20th, 2012, 1:54 pm

I got my city of Minneapolis email last night, with some cool facts and figures. The number of Jobs in Minneapolis is at 99% of what it was towards the end of 2007 marking a near full recovery from 'the great recession' in mpls, which has recovered far faster than the rest of the metro/state. Cool news, and the apartment vacancy rate was still low, and residences growing, so a lot of numbers that are encouraging to retail and job growth for the area!

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Re: Downtown Retail News

Postby John » November 20th, 2012, 3:01 pm

fotoapparatic wrote:I got my city of Minneapolis email last night, with some cool facts and figures. The number of Jobs in Minneapolis is at 99% of what it was towards the end of 2007 marking a near full recovery from 'the great recession' in mpls, which has recovered far faster than the rest of the metro/state. Cool news, and the apartment vacancy rate was still low, and residences growing, so a lot of numbers that are encouraging to retail and job growth for the area!
Yes, this is very positive. And with the downtown population approaching 40,000, retail can't help but do much better in the next few years, albeit different than what was downtown in the 1970's. I even think Nicollet Mall retail will improve, and I think MNMike has a good point about Neiman Marcus (aka "Needless Markup") closing. That will open up space for some smaller retailers to come into Gavidae.

widin007
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Re: Downtown Retail News

Postby widin007 » November 20th, 2012, 4:08 pm

twincitizen wrote:Sub-topic: Reducing total retail space downtown

What are some retail/restaurant spaces that could or should be converted to something else?

I feel that no matter how high the downtown population climbs, there will always be a surplus of retail space in the core. This will be exacerbated as old people die and the world is increasing made up of people who are comfortable buying more things online.

I see that "Nic on 5th" is adding 2 stories of retail, wowzers. That's right across the street from the soon to be vacant Neiman Marcus space in Gaviidae. Not far from City Center, which is actually doing OK with corner tenants but could really use a revamp. Wondrous Azian Kitchen just went out of bizness and Chevy's Fresh Mex has been vacant FOREVER. Then there's Block E, which never should have happened in the first place.

Agree/disagree? What spaces would you convert from vacant/struggling retail to something else?

Well to point, Wondrous Kitchen is closing because Thom Pham is an embezzler and that sign cost about 20 grand, and even though that corner is where restaurants go to die, this one wasn't because of lack of interest or customers.

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Re: Downtown Retail News

Postby mplser » November 20th, 2012, 5:30 pm

John wrote:I think MNMike has a good point about Neiman Marcus (aka "Needless Markup") closing. That will open up space for some smaller retailers to come into Gavidae.
"needless markup". no kidding. I walked in and looked at the price tag on some pants once. I got that "I don't belong here" feeling and walked right out.

Didier
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Re: Downtown Retail News

Postby Didier » November 20th, 2012, 11:15 pm

While increased downtown population helps, you also have to keep in mind that the population is going largely to the North Loop, Mill City and Loring Park areas, so the new demand they bring is likely not for clothes stores on Nicollet Mall.

Viktor Vaughn
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Re: Downtown Retail News

Postby Viktor Vaughn » November 20th, 2012, 11:34 pm

I would like to see an REI downtown. They are pushing a sustainable co-op image, yet all their Twin Cities stores are currently in car dominated suburbs. REI could even be an anchor for a renovated Block E (or Nieman's corner). They're big enough to take a corner spot on both the street and skyway level, and could provide a transparent connection between the two like the Target store. Best yet, on their open all-glass-corner they could build a three story rock climbing wall that, combined with Hennepin's Time Square style signage, would give them very high visibility.

You might think that camping gear is an odd choice for downtown, but biking is a major part of their business. And if the Mississippi whitewater course ever gets going that would offer an opportunity for their paddle sport gear.

More likely they'd put a store in Uptown. Columbia, Northface, and REI would offer some synergy for outdoor types with money to blow...

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Nathan
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Re: Downtown Retail News

Postby Nathan » November 21st, 2012, 9:39 am

Viktor Vaughn wrote:I would like to see an REI downtown. They are pushing a sustainable co-op image, yet all their Twin Cities stores are currently in car dominated suburbs. REI could even be an anchor for a renovated Block E (or Nieman's corner). They're big enough to take a corner spot on both the street and skyway level, and could provide a transparent connection between the two like the Target store. Best yet, on their open all-glass-corner they could build a three story rock climbing wall that, combined with Hennepin's Time Square style signage, would give them very high visibility.

You might think that camping gear is an odd choice for downtown, but biking is a major part of their business. And if the Mississippi whitewater course ever gets going that would offer an opportunity for their paddle sport gear.

More likely they'd put a store in Uptown. Columbia, Northface, and REI would offer some synergy for outdoor types with money to blow...
I like! Not sure if they'd go for it, but I like to imagine a glassy facade with rock climbing walls in the heart of downtown...

MNdible
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Re: Downtown Retail News

Postby MNdible » November 21st, 2012, 9:58 am

Viktor Vaughn wrote:I would like to see an REI downtown.
I love this idea. Not sure if it's viable or not, but I love it. I could also see a store like this going into Riverplace, where it would be immediately adjacent to the river.

twincitizen
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Re: Downtown Retail News

Postby twincitizen » November 21st, 2012, 11:31 am

Drooling at the idea of a 2-story REI in Block E. I've actually taken the bus to the one in Bloomington before. I thought the 535 would get me a lot closer...whoops

Wedgeguy
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Re: Downtown Retail News

Postby Wedgeguy » November 21st, 2012, 1:52 pm

twincitizen wrote:Drooling at the idea of a 2-story REI in Block E. I've actually taken the bus to the one in Bloomington before. I thought the 535 would get me a lot closer...whoops
If you like climbing in the city itself. Check out Vertical Endevers at about 26th and Nicollet.

min-chi-cbus
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Re: Downtown Retail News

Postby min-chi-cbus » November 21st, 2012, 2:03 pm

How about a 100 foot REI rock-climbing wall attached to the Block E building (I'm guessing Block E is 100 feet tall, but it's probably more like 90 feet)? Now that'd be iconic!!

nybe0034
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Re: Downtown Retail News

Postby nybe0034 » November 21st, 2012, 7:37 pm

This is my first post. I've been following Minnescraper/UrbanMSP for years and after moving back from the East Coast I'm happy to be living downtown Minneapolis. I've always thought having a rock climbing wall (a glass mountain design) in the old Ramada/parking lot with residential above (or a new movie theater?) could be iconic for the city and show off our claim for 'City by Nature'. Connecting downtown with Loring Park/Laurel Village on Hennepin would be great for downtown. The surface parking lot is nasty and is a big disconnect to the activities on both ends.

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Re: Downtown Retail News

Postby Wedgeguy » December 6th, 2012, 3:47 pm

I pulled these numbers from the Develpoment Tracker from a journal a few weeks back. Wehave alot of change coming to the downtown area in many way. First up we will be seeing 560 units being build in the Downtown east and west, 1037 units in the North Loop, 375 units on the north side of the river, and 194 units in the LOrning Park area. That is 2166 unit now UNDER CONSTRUCTION! This does not include the Abbott rehab, or the Stonebridge Condo project that are both semi under construction. If you were to have say 1.25 persons per unit as some will be 2 bedrooms and others occupied by couples you would have about 2710 people that will be added to the downtown shopping area. These numbers do not include the 2 new North Loop projects that just opened this summer and fall. We now have to look at our new larger built-in shopping base.

While Sak's and NeedlessMarkup will be leaving Gavidee, That would leave space open for Von Mour and Herbergers to take over those two site. They would really not have to do alot to give them a fresh look, and this would allow for 2 more Anchors besides Macy's for people to go shopping at while downtown. These store would be more in the price line of what a majority of the people living downtown could afford. That I think would strengthen the draw for others store to come and inhabit the Gavidee.

Hopefully Shorenstein has gotten word about how we despise the exterior of City Center and they will do something to get the base to be more inviting at street level. There is so much retail potential if landlords and the city would work together to get a decent product for the shoppers. You have some great spending potential, You have to have places that these people want to shop. You need buildings that people want to walk into and shop in also. People will not shop in a war bunker if they do not see it as a place that they want to walk thru the doors to visit. City Center has a first floor main corner vacant and it looks like East Berlin after the fall. I personally hate walking on that section of Nicolett [sic]. It look thilthy and disgusting. Time t get in on the ground fllor , because the downtown is a changing for the good. The longer you wait the more it will cost you to play later.

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spectre000
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Re: Downtown Retail News

Postby spectre000 » December 6th, 2012, 4:21 pm

Wedgeguy wrote:Hopefully Shorenstein has gotten word about how we despise the exterior of City Center and they will do something to get the base to be more inviting at street level. There is so much retail potential if landlords and the city would work together to get a decent product for the shoppers. You have some great spending potential, You have to have places that these people want to shop. You need buildings that people want to walk into and shop in also. People will not shop in a war bunker if they do not see it as a place that they want to walk thru the doors to visit. City Center has a first floor main corner vacant and it looks like East Berlin after the fall. I personally hate walking on that section of Nicolett [sic]. It look thilthy and disgusting. Time t get in on the ground fllor , because the downtown is a changing for the good. The longer you wait the more it will cost you to play later.
Considering there is the possibility of Target leaving 33 S. Sixth down the road, I hope Shorenstein doesn't bury their head in the sand and let the place go further downhill. A major renovation could really re-energize the building and make it much more marketable. If/when Target leaves, it'll leave a huge hole to fill.

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Re: Downtown Retail News

Postby mnmike » December 6th, 2012, 11:51 pm

Wedgeguy wrote:
While Sak's and NeedlessMarkup will be leaving Gavidee, That would leave space open for Von Mour and Herbergers to take over those two site. They would really not have to do alot to give them a fresh look, and this would allow for 2 more Anchors besides Macy's for people to go shopping at while downtown. These store would be more in the price line of what a majority of the people living downtown could afford. That I think would strengthen the draw for others store to come and inhabit the Gavidee.
Wait, has it been said somewhere that Saks off Fifth is actually leaving? Or are we just assuming that because they are opening in Eagan in a couple years? Not saying it is a bad assumption...it is a conclusion I had pretty much jumped to in the Eagan thread, but I didn't think I had actually seen any mention of them leaving. Sure, if they did leave, and those other two dept stores came it COULD draw people...but I really don't think any department stores have any interest at all whatsoever of opening downtown at the moment. If both anchors leave, my best guess would be partial office conversion and smaller storefronts, plus vacant space for a long while, unfortunately.

PS, Saks off fifth isn't upscale, it is an outlet..so it isn't really "out of line" with what people shopping downtown can afford.

mnmike
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Re: Downtown Retail News

Postby mnmike » December 6th, 2012, 11:58 pm

spectre000 wrote: Considering there is the possibility of Target leaving 33 S. Sixth down the road, I hope Shorenstein doesn't bury their head in the sand and let the place go further downhill. A major renovation could really re-energize the building and make it much more marketable. If/when Target leaves, it'll leave a huge hole to fill.


You know City Center had a pretty major renovation not long ago at all, right? The whole place was gutted to the beams and reconfigured...they just didn't touch the outside.


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