Downtown Minneapolis Retail News

[EOst]

It's also a region that, compared to the Twin Cities, has had much less growth in recent years. Most of the inner-city census tracks reported population losses in the last census, some of them very large (tract 201, the heart of downtown, was a 30% decline; tract 305 -17%; tract 501 -20.3, etc.)

But the larger truth is that Macy's as a whole is on its way out. Whether ours is more like Pittsburgh's or some other city's won't change that in the end.

[twinkess]

I hope it stays. I love downtown Dayt... er Macy's. My only complaint is that they don't carry my dress shirt size in more than three boring colors.

[LakeCharles]

This line has stuck in my head and always makes me chuckle, "Macy's: You hate us. We hate you. It's on sale."

Haha, that is funny and accurate.

[Wedgeguy]

This line has stuck in my head and always makes me chuckle, "Macy's: You hate us. We hate you. It's on sale."

Haha, that is funny and accurate.

Counting the basement, how many floors of the build are still retail. What they need to do is to get a way to have a separate lobby for the office floors. That may mean having to eliminate or downsize a few departments. But they should be able to get so that the office space is utilized and still have a decent sized store with departments that are more appropriate in size.

[amiller92]

Plus Sports Authority pretty much replaced Office Depot.

Except that it should draw way more customers and foot traffic. And at minimum have in-use doors that face the mall. That's a huge upgrade.

If these spaces are not filled soon then things are only going to get worse when Gateway and Ritz block tower 1 is built.

Don't follow this at all. How will more people make things worse?

Maybe the 2018 super bowl will encourage more retailers to open up shop, and end up staying?

Seems highly unlikely to me.

Not sure what needs to be changed to fix the problem.

More people is one thing that's sure to help.

[TroyGBiv]

I wonder if the potential of losing Macy's may create bigger opportunities for retail downtown? Nordstrom had wanted to open downtown but ended up picking Ridgedale. It is highly unlikely that they would still want an option downtown but there may be other retailers that would like that kind of location. Herbergers might - though it is not my preference - or maybe a renovation to create a vertical multi retailer mall. More along the lines of Downtown Chicago...

[seanrichardryan]

Activist Investor pressuring Macy's to sell real estate:

http://m.bizjournals.com/twincities/mor ... -real.html

[acs]

C'mon guys, is it really that hard to figure our why downtown retail is declining? It's the MOA.

http://www.startribune.com/mall-of-amer ... 317431411/

Every taxpayer fueled expansion, every new Arctic Fox retailer choosing to enter the market in Bloomington instead of downtown means more of our limited shopping pie going to the burbs and less reason to go spend money downtown. If we as a community spent just half as much time fighting against subsidies for the MOA as we do squabbling over stadium tax breaks we'd have a much better downtown.

[PhilmerPhil]

"Buzz Mart"
[/URL]

[amiller92]

C'mon guys, is it really that hard to figure our why downtown retail is declining? It's the MOA.

http://www.startribune.com/mall-of-amer ... 317431411/

Every taxpayer fueled expansion, every new Arctic Fox retailer choosing to enter the market in Bloomington instead of downtown means more of our limited shopping pie going to the burbs and less reason to go spend money downtown. If we as a community spent just half as much time fighting against subsidies for the MOA as we do squabbling over stadium tax breaks we'd have a much better downtown.

Yes and no. The downtown retail of the '50s - when it was destination shopping - is dead due to malls. That fight is over and perhaps can't be revisited (see downtown Portland, though). But that's been true for decades.

But retail that caters to what people actually need can and is returning as the people do.

[Wedgeguy]

C'mon guys, is it really that hard to figure our why downtown retail is declining? It's the MOA.

http://www.startribune.com/mall-of-amer ... 317431411/

Every taxpayer fueled expansion, every new Arctic Fox retailer choosing to enter the market in Bloomington instead of downtown means more of our limited shopping pie going to the burbs and less reason to go spend money downtown. If we as a community spent just half as much time fighting against subsidies for the MOA as we do squabbling over stadium tax breaks we'd have a much better downtown.

Depending on who you are as a retailer, MOA makes a lot of sense as you have what downtown is lacking and that is critical mass of other retailers to draw people into the mall. On that note, I can say that there are people in this city that refuse to go out to the MOA and will find other places to shop where they don't have to deal with a circus and the crowds of people, especially on some weekends. Not sure a lot of downtown residence are going to hope a train or get into their car to go shopping for everything.

So is Macy's downtown losing money with their store itself, I'm not talking the empty floors of the old Dayton's offices? How many floors of actual retail does Macy's use now. I've only been in the basement, street, and skyway levels in the past few years. I'm not a Macy's shopper. If Macy's sells the building with out a leaseback agreement, Macy's could find that Nordstrom's may very well like to take the space and increase their presence downtown where the future demographics has people with nice amounts of disposable income. Plus Nordstrom's has real customer service which I hear Macy's as of late is sorely lacking. Macy's right now has a lock on the downtown market. At MOA and Ridgedale they are up against Nordstrom's on equal footings, although at Ridgedale Nordstrom's has the newest store, which I've still not seen or been in. To tell the truth I'm not even sure if I saw anything that says they are open, but I would think by now they should be. I think that there are a lot of shoppers that would prefer to go downtown to Nordstrom's and shop and then have lunch on the mall instead of dealing with the MOA. Macy''s tried to keep Nordstrom's out of the other malls but in the end had to give in as having the 2 stores at Ridgedale was not a good proposition for them.

Let's see what foot traffic the new Walgreen's deluxe brings to the Gaviidee. The plus of the empty Gaviidee space is that the mall construction would really not affect them with the skyways. Retailers can move in with little disruption from the construction. Plus there will be an increase in skyway foot traffic as people use the skyways to get over the construction on the street. Only time will tell. We will see what things are like in about a year when the mall reconstruction is half complete as to how retailers decide if they want to get on board before the train pulls away from the station and leaves them with no of less than prime retail locations to set up shop. My wish it that Apple take on the 3rd floor of the Saks space and create a reason to get people up to the 3rd level. Have that their flagship store, How many retailers would want to be near an Apple store for the foot traffic alone. One can only wish for something that could be a catalyst for a remake of Gaviidee.

[amiller92]

My wish it that Apple take on the 3rd floor of the Saks space and create a reason to get people up to the 3rd level. Have that their flagship store, How many retailers would want to be near an Apple store for the foot traffic alone. One can only wish for something that could be a catalyst for a remake of Gaviidee.

I'd much rather have Apple on the street level somewhere.

[Wedgeguy]

Short of the Gap spot. I see no real street level space that Apple could have a decent sized store at. Lord know the developers in this city are clueless as to how to help themselves out and actually work together to get enough retail space to now work with the critical mass of residents. All developers currently know is space for restaurants and little else. They look backwards instead of forwards, where the current growth is coming in from. With the retail that is taking off in the NL, one can not say that retail will not work downtown. You have to have things that people want, places that make people want to stop in and look, and customer service that they can't get out at MOA.

[grant1simons2]

http://finance-commerce.com/2015/07/gap ... is-retail/

Locked up but this is the 3rd article I've seen stating that talks are already well underway for a new tenant. Does anyone where where to pick up a paper copy of this edition?

[amiller92]

Short of the Gap spot. I see no real street level space that Apple could have a decent sized store at. Lord know the developers in this city are clueless as to how to help themselves out and actually work together to get enough retail space to now work with the critical mass of residents.

I don't think a lack of available space is why there is not a downtown Apple store.

All developers currently know is space for restaurants and little else. They look backwards instead of forwards, where the current growth is coming in from.

Perhaps because restaurants are viable in a way that traditional retail is often not.I don't think that's a backward-looking conclusion.

With the retail that is taking off in the NL

This is an often expressed notion that leaves me puzzled. There are a few boutique retailers in the NL. It's hardly a boom. It remains to be seen whether they will be resilient to the overall decline in retail. And are those places really attracting suburban shoppers?

[adam.voge]

http://finance-commerce.com/2015/07/gap ... is-retail/

Locked up but this is the 3rd article I've seen stating that talks are already well underway for a new tenant. Does anyone where where to pick up a paper copy of this edition?

Hey Grant,

As far as I know the only place is the actual F&C office, in the first floor of the 730 Building (Baker Center).

[grant1simons2]

I'll be right there.

[Wedgeguy]

http://finance-commerce.com/2015/07/gap ... is-retail/

Locked up but this is the 3rd article I've seen stating that talks are already well underway for a new tenant. Does anyone where where to pick up a paper copy of this edition?

I know you can read about it in the Downtown libraries, but they are generally a few days behind when putting them out. That is where I try and catch up on things once a week or so. 3rd floor and str8 back by the fireplace and to your right you will find them on the short 2 tiered newspaper racks.

Might also check with the Southdale Library as I know they do carry many of the business journals. But with budgets, I'm not sure what they carry in paper form now as it has been a year since I was last there.

[grant1simons2]

Thats good to know for future reference! The issue didnt have a lot of info in it but it was still a great article. So we've got one national retailer who's in deep talks with DTZ. Hope its fashion!

[Wedgeguy]

Thats good to know for future reference! The issue didnt have a lot of info in it but it was still a great article. So we've got one national retailer who's in deep talks with DTZ. Hope its fashion!

Was that todays issue or one from last week as I'll be downtown tomorrow and will be checking up on the F&C, Business Journal, and Minnesota Real Estate News that are all carried in paper form at the main library.