Uptown Retail & Restaurant News

Calhoun-Isles, Cedar-Riverside, Longfellow, Nokomis, Phillips, Powderhorn, and Southwest
gpete
Union Depot
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Joined: June 8th, 2012, 9:33 am
Location: Seward, Mpls

Re: Uptown Restaurant News

Postby gpete » April 3rd, 2013, 9:10 am

Is that $40k per month figure accurate for that space? I'm not well-versed in commercial real estate, but that seems remarkably expensive. Wow.

widin007
Nicollet Mall
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Joined: November 3rd, 2012, 4:07 pm

Re: Uptown Restaurant News

Postby widin007 » April 3rd, 2013, 10:30 am

mullen wrote:just odd a chicago based chain can't make a go of it at that corner. business must have been just really slow. rent cant be higher in calhoun square vs a chicago location.

guess it's all in the concept, food, ambience.
Well a bland chain with so-so food and with no concept that I could discern other than "we're a bar with a decent amount of taps on the corner of calhoun square" was bound to fail imo. Especially when the Republic opened right above it.

mullen
Foshay Tower
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Re: Uptown Restaurant News

Postby mullen » April 3rd, 2013, 10:34 am

the bland chain seems to work in chicago where they have ton more competition.

uptowncarag

Re: Uptown Restaurant News

Postby uptowncarag » April 3rd, 2013, 3:26 pm

The one in Chicago is also in a bad location. It is in the loop but not well positioned.

mamundsen
Wells Fargo Center
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Re: Uptown Restaurant News

Postby mamundsen » April 3rd, 2013, 3:31 pm

Spill the Wine opened their new space in Uptown recently, at the corner of Lake and Bryant.

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Nick
Capella Tower
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Location: Loring Park, Minneapolis

Re: Uptown Restaurant News

Postby Nick » April 3rd, 2013, 3:55 pm

Maybe I should have taken Econ...if the rent is too high to keep all these tenants, why is the rent so high? Blah blah blah market forces blah blah blah..?

LyndaleHoosier
Metrodome
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Joined: January 15th, 2013, 9:07 pm

Re: Uptown Restaurant News

Postby LyndaleHoosier » April 3rd, 2013, 5:58 pm

Interestingly enough, isn't Republic technically a chain since they also have a location in 7 corners? :)

Chef
Landmark Center
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Re: Uptown Restaurant News

Postby Chef » April 3rd, 2013, 9:01 pm

mullen wrote:just odd a chicago based chain can't make a go of it at that corner. business must have been just really slow. rent cant be higher in calhoun square vs a chicago location.

guess it's all in the concept, food, ambience.
Minneapolis proper is a hard market for out of town restauranteurs. It is full of chef driven independent places that charge $15 to $25 a plate for high quality food. In most major cities top tier chefs don't operate at such low price points. Those are the same prices nicer chains want to sell at, so when they come here they are perceived as being overpriced because places like Heidi's and Tilia are occupying the same price tier. Minneapolis is one of the price/quality leaders when it comes to upscale restaurants in the US. Most diners here don't know how good they've got it.
Last edited by Chef on April 3rd, 2013, 9:13 pm, edited 1 time in total.

Chef
Landmark Center
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Re: Uptown Restaurant News

Postby Chef » April 3rd, 2013, 9:10 pm

Nick wrote:Maybe I should have taken Econ...if the rent is too high to keep all these tenants, why is the rent so high? Blah blah blah market forces blah blah blah..?
I think they bought at the top of the market and are trying to make their money back. They haven't accepted reality yet.

twincitizen
Moderator
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Re: Uptown Restaurant News

Postby twincitizen » April 3rd, 2013, 10:03 pm

It was recently rumored that the current owners of Calhoun Square are looking to sell soon. They may have overpaid, but Calhoun Square is as close to fully leased as it's been in a long time, and the future looks very bright for the area. I think once it became clear that Primebar wasn't going to make it, Calhoun Square opted for a quick divorce so they could get another tenant on there in a hurry.

mullen
Foshay Tower
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Re: Uptown Restaurant News

Postby mullen » April 4th, 2013, 6:08 am

that spill the wine renovated corner looks really nice. i like what they did with the exteriror. this frontage down to morrissey's pub is all good.

Viktor Vaughn
US Bank Plaza
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Re: Uptown Restaurant News

Postby Viktor Vaughn » April 4th, 2013, 9:08 am

LyndaleHoosier wrote:Interestingly enough, isn't Republic technically a chain since they also have a location in 7 corners? :)
I saw your smiley there, so don't take it personal, your comment just got me thinking.

Yes, Republic has more than one location. But it'd be more accurate to call Republic a local business. Lumping Republic, Prime Bar, and Applebees together under the term 'chain' renders that word pretty much useless.

Some definitions define a chain as 10 or more locations with a central headquarters. In practice people generally use the word chain to describe the TGIF's of world. A chain restaurant is a corporate concept that takes advantage of economies of scale to infect communities like a supervirus. The rise of corporate chain restaurants corresponds with the corporate takeover of most other areas of economic life.

After taking a moment to disambiguate, its clear Republic is pretty much the exact opposite of a chain.

Wedgeguy
Capella Tower
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Re: Uptown Restaurant News

Postby Wedgeguy » April 4th, 2013, 2:53 pm

Walked by today and noticed that Origami is now open for business in the Mozaic.

bapster2006
Foshay Tower
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Re: Uptown Restaurant News

Postby bapster2006 » April 5th, 2013, 6:33 pm

Trying Republic for the first time right now if anyone is up for a happy hour. My kind of place. Just look for the tall guy in the long red shirt at the bar. Have a good night!

Didier
Capella Tower
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Location: MSP

Re: Uptown Restaurant News

Postby Didier » April 6th, 2013, 10:19 pm

Republic is great. Makes me like going to Uptown again.

As an aside, I stopped at Bar Louie last night for one last drink before heading home; I've never felt more confident that I was the least douchey person in a room before.

min-chi-cbus
Capella Tower
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Re: Uptown Restaurant News

Postby min-chi-cbus » April 7th, 2013, 5:32 pm

^That's a helluva feeling!

What's Republic like? I get the sense that it would be THE place in Uptown that I'd go to when I wasn't on the rooftop of Stella's on a late Afternoon summer day.

widin007
Nicollet Mall
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Joined: November 3rd, 2012, 4:07 pm

Re: Uptown Restaurant News

Postby widin007 » April 21st, 2013, 12:06 pm

http://finance-commerce.com/2013/04/cal ... n-way-out/

Wow, what a train wreck, but this conceptualized how extraordinary rent is in that spot

mplser
US Bank Plaza
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Location: Elliot Park

Re: Uptown Restaurant News

Postby mplser » April 21st, 2013, 3:10 pm

they clogged up the sink with paper towels and left it running to flood Calhoun Square? how classy and professional of them...

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booboo
Block E
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Re: Uptown Restaurant News

Postby booboo » April 28th, 2013, 4:16 pm

There's no way to be sure it was a Primebar employee that did that while the Wet Bandits are still on the loose.

https://www.youtube.com/watch?v=X7vCYAaD3Mo

ECtransplant
US Bank Plaza
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Re: Uptown Restaurant News

Postby ECtransplant » May 5th, 2013, 1:40 pm

Sawatdee Express closed about a week ago.


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