Downtown Minneapolis Retail News

Downtown - North Loop - Mill District - Elliot Park - Loring Park
grant1simons2
IDS Center
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Re: Downtown Minneapolis Retail News

Postby grant1simons2 » February 10th, 2015, 10:41 am

What stands out to me as a good sign, is that Sports Authority only has 2 downtown locations in the US, one in Chicago and one in NYC. Will be pretty cool to be added to that list. It fits the lifestyle of the people who are moving in downtown as well. Fit, active, and young. Or the empty nesters who like to take walks along the river and still need walking shoes or get gifts for their kids and grandkids

twincitizen
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Re: Downtown Minneapolis Retail News

Postby twincitizen » February 10th, 2015, 10:45 am

twincitizen wrote:If anyone's looking for City Center floor plans, I posted them a few pages ago: https://forum.streets.mn/viewtopic.php?f=13& ... 420#p78834

The article confirms Sports Authority will take the 22,000 sf space on the street level only, just in case anyone was fantasizing about a 2-level store. With signed leases in hand from Sports Authority and Saks Off 5th, Shorenstein can now aggressively market City Center for sale this year. I'd guess the building will have a new owner by the end of 2015.
F&C (unlocked): http://finance-commerce.com/2015/02/spo ... ty-center/

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MplsErik
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Re: Downtown Minneapolis Retail News

Postby MplsErik » February 10th, 2015, 10:46 am

Is anything being done with the exterior of the City Center now that two new tenants are coming in? I recall seeing images from the mall redesign but those weren't from the building owner.

acs
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Re: Downtown Minneapolis Retail News

Postby acs » February 10th, 2015, 10:54 am

So now that the two main spots in City Center are leased, where are the remaining large empty retail locations along the mall or in the nearby skyway level that could support new businesses? Off the top of my head I can think of the Nic on 5th and Renaissance square, but are there any others? There are so many more retailers that I would love to see; REI, Von Maur, Bauer Hockey, Apple, Microsoft, Best Buy, Duluth Trading Co. and others.

twincitizen
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Re: Downtown Minneapolis Retail News

Postby twincitizen » February 10th, 2015, 11:23 am

MplsErik wrote:Is anything being done with the exterior of the City Center now that two new tenants are coming in? I recall seeing images from the mall redesign but those weren't from the building owner.
I think this is the news we're all waiting for, but it may not be coming. With Shorenstein putting the building up for sale, and the timeline of the tenants moving in, it seems less likely than ever that they will be doing anything beyond what is absolutely necessary (replacing doors, windows and tenant signage). I'll be very happy to be proven wrong, but it just seems super unlikely that Shorenstein is going to put several million dollars into any facade improvements.

twincitizen
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Re: Downtown Minneapolis Retail News

Postby twincitizen » February 10th, 2015, 11:37 am

acs wrote:So now that the two main spots in City Center are leased, where are the remaining large empty retail locations along the mall or in the nearby skyway level that could support new businesses? Off the top of my head I can think of the Nic on 5th and Renaissance square, but are there any others? There are so many more retailers that I would love to see; REI, Von Maur, Bauer Hockey, Apple, Microsoft, Best Buy, Duluth Trading Co. and others.
This is a good conversation starter, but let's pare that list down a bit. While downtown's population is increasing, MOA is as strong as ever and is easily reached by LRT. Two very successful regional malls are not very far from downtown (by car) either: Rosedale is shockingly close to downtown, just over 10 minutes via 35W (for Mill District & inner NE/SE residents). Southdale is literally closer than downtown for much of wealthy SW Minneapolis.

I think the more important question is "What is the extent of the strong retail area of Nicollet Mall?" Is the 2+ block area of zero retail activity (Xcel, Centerpoint, Library, etc.) too much of a barrier for retail to find success north of 4th Street? I've seen a few people clamoring for lots of retail in the Ritz block and Nicollet Hotel block, but I wonder if it isn't too disconnected from the rest of the center of retail activity (IDS/Macy's) to support a major retailer.

As for your list of the available spaces, I'd add in Barnes & Noble (let's be honest, it's 2015). We've heard Macy's is looking to downsize, and/or possibly do a sale/leaseback of their building...though perhaps it was just upper-floor space they were looking to unload. The entire street and skyway levels of Gaviidae I are in play. Walgreens is going in the former Saks space, not touching the "mall" portion of Gaviidae. I'd guess a lot of those prime corner spaces of IDS could be in play as tenants shuffle around downtown. For example, with a strengthened retail scene finally reaching beyond the friendly confines of IDS, a Gap or Hubert White might find that they can survive in a different location, making room for one of the retailers mentioned above. The current Walgreens location could be redeveloped into 2-3 story specialty retail in an unbeatable location.

EOst
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Re: Downtown Minneapolis Retail News

Postby EOst » February 10th, 2015, 11:41 am

I know it's probably not long for this world, but I'll be sad to see the Barnes & Noble go when it does. It's easily among the most inviting and attractive sections of the Mall.

Silophant
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Re: Downtown Minneapolis Retail News

Postby Silophant » February 10th, 2015, 12:01 pm

I will be too. It seems decently busy when I walk by, but still... Bookstore.

Other spaces: The top two floors of Sak's, though it would be difficult to see how it would connect to the rest of the retail now that the rest of those floors are office. Its probably more likely that the bank expands into that area as well.

There's a decent amount of space left in City Center, too, wrapping around the hotel on both levels. Might be too far from Nicollet Mall, but a destination retailer probably wouldn't be hurt by that as much.

uptown067
Metrodome
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Re: Downtown Minneapolis Retail News

Postby uptown067 » February 10th, 2015, 5:14 pm

I seem to recall LA Fitness was scouting locations downtown, that was probably well over a year ago. I would love to see them take one of the top Sak's floors.

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Nick
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Re: Downtown Minneapolis Retail News

Postby Nick » February 10th, 2015, 5:28 pm

acs wrote:So now that the two main spots in City Center are leased, where are the remaining large empty retail locations along the mall or in the nearby skyway level that could support new businesses? Off the top of my head I can think of the Nic on 5th and Renaissance square, but are there any others? There are so many more retailers that I would love to see; REI, Von Maur, Bauer Hockey, Apple, Microsoft, Best Buy, Duluth Trading Co. and others.
Wasn't a downtown Best Buy a hot topic before the recession?

Also, doesn't Sports Authority have guns? I know Dick's does. I wonder if this location will sell them? The Midway Wal-Mart does.

Wedgeguy
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Re: Downtown Minneapolis Retail News

Postby Wedgeguy » February 10th, 2015, 7:05 pm

Guns what we need is a gun shop when you have how many banks in a 3 block radius!! I can see office workers going pigeon hunting on the roofs of building!! Not sure whether to take this as a bad joke or some sad reality! Most buildings have no guns allowed in them so I don't think that buying a gun is a lunch break thing.

John21
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Re: Downtown Minneapolis Retail News

Postby John21 » February 10th, 2015, 7:19 pm

I've never seen guns at a Sports Authority.

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Nick
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Re: Downtown Minneapolis Retail News

Postby Nick » February 10th, 2015, 7:44 pm

They have some hunting stuff on their website, was just curious. I think most guns purchased for bank robberies are generally from the store across the street minutes before the stick up, so I could see why it would be a concern.

Silophant
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Re: Downtown Minneapolis Retail News

Postby Silophant » February 10th, 2015, 7:57 pm

Impulsive bank robberies aside, I'd have no problem with a gun store downtown. A lunch break oriented retail area is what we have, not what we're trying to achieve.

John
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Re: Downtown Minneapolis Retail News

Postby John » February 10th, 2015, 8:04 pm

twincitizen wrote:
MplsErik wrote:Is anything being done with the exterior of the City Center now that two new tenants are coming in? I recall seeing images from the mall redesign but those weren't from the building owner.
I think this is the news we're all waiting for, but it may not be coming. With Shorenstein putting the building up for sale, and the timeline of the tenants moving in, it seems less likely than ever that they will be doing anything beyond what is absolutely necessary (replacing doors, windows and tenant signage). I'll be very happy to be proven wrong, but it just seems super unlikely that Shorenstein is going to put several million dollars into any facade improvements.
I am still cautiously optimistic there will be some upgrade. The precast panels are not hard to demo and I still find it hard to believe any new tenant would sign a lease given the current exterior condition and negative image it portrays of the complex. However, if nothing is done to improve the outside, I believe the retail spaces there will stay active for maybe a few years, then falter again rather quickly. The poor design is not conducive to encouraging retail in a highly dense urban setting, and has a long standing negative image in the community. This has really been true since it was built in 1983. Even then there was a public outcry of the design, and it has faltered ever since. This is The Nicollet Mall's version of "Block E "if there ever was one.

Wedgeguy
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Re: Downtown Minneapolis Retail News

Postby Wedgeguy » February 10th, 2015, 8:19 pm

John I have to agree with all you are saying. City Center never did act like a retail hub even when there was a department store as an anchor. I blame the exterior and the psychology of what people perceive it is from the outside. A lesson in poor architectural design for a thesis paper. While they may have saved up front in building costs. They have had 30 years of poor returns due to the bad design choices.

mplsjaromir
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Re: Downtown Minneapolis Retail News

Postby mplsjaromir » February 10th, 2015, 9:04 pm

The New York City and Chicago locations certainly do not sell handguns. I think this store will be viable without that particular merchandise segment.

grant1simons2
IDS Center
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Re: Downtown Minneapolis Retail News

Postby grant1simons2 » February 10th, 2015, 9:08 pm

Eden Prairie Sports Authority doesn't sell guns, just to add to this.

seanrichardryan
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Re: Downtown Minneapolis Retail News

Postby seanrichardryan » February 10th, 2015, 10:56 pm

I seem to remember Minneapolis has no allowance for gun shops in the zoning code, expect one 'grandfathered', litigious exception on Chicago Ave near Lake.
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Andrew_F
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Re: Downtown Minneapolis Retail News

Postby Andrew_F » February 10th, 2015, 11:59 pm

Not looking at it right now, but iirc they are conditonally allowed in C4 and one of the downtown service districts, but there are also some pretty restrictive development standards.

Edit: They're conditional in C4 and B4C. 250' buffer from R and OR, 500' from schools, day cares, libraries, and parks.


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