The Once and Future Dayton's

Downtown - North Loop - Mill District - Elliot Park - Loring Park
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Anondson
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Re: Downtown Minneapolis Macy's Building

Postby Anondson » October 21st, 2016, 2:41 pm

Alright, everyone keeps saying that an  Store would be great in this or that building, but this would be a great corner.

sanguinic
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Re: Downtown Minneapolis Macy's Building

Postby sanguinic » October 21st, 2016, 4:38 pm

Macy's is closing 100 stores. When the company recently released a list of its top 150 performers, the only Minnesota locations on the list were Southdale, Ridgedale and Mall of America. 700 Nicollet was conspicuously absent from the list, despite a number of other downtown locations (Manhattan, Chicago, San Francisco, Washington DC, Boston and L.A). The company's recent earnings announcement said that it was "examining opportunities for four of Macy's large downtown flagship stores in various cities." My guess? That means Minneapolis, Portland (Ore.), Seattle or Philadelphia, and the just-sold men's store in San Francisco.

TroyGBiv
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Re: Downtown Minneapolis Macy's Building

Postby TroyGBiv » October 21st, 2016, 5:47 pm

This is disappointing - but let's face it... Macy's is not great and was never even close to Dayton's in any way. The building would be great with offices on the top 6 floors - there is a lot of space up there above the 5th floor. The lower 4 plus basement would make a great retail structure with many stores and a great food hall... But that is just my two cents.

sanguinic
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Re: Downtown Minneapolis Macy's Building

Postby sanguinic » October 21st, 2016, 8:05 pm

Here's a good example of the web-is-killing-department-stores meme, from a recent Business of Fashion article: "As one American designer with more than $100 million in annual revenue told BoF, 'Ten years ago, you needed a major department store to be successful. Now, you need Instagram.'

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Nick
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Re: Downtown Minneapolis Macy's Building

Postby Nick » October 21st, 2016, 8:53 pm

All these points are correct, but also, didn't the downtown Macy's kinda suck? I don't know much a new carpet would have helped sales, but I don't think it would have hurt. I don't want it to close because of how big of a blow that'd be to downtown, but they've been mailing it in for years.

Silophant
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Re: Downtown Minneapolis Macy's Building

Postby Silophant » October 21st, 2016, 10:11 pm

It does kinda suck.

I think the biggest problem is that they didn't downsize enough. There still seems to be a decent number of people shopping there, but not nearly enough to warrant even the five floors they still occupy. Based on my expert opinion from walking through on the skyway and occasionally buying a shirt or whatever, I think if they consolidated down to the basement, ground, and skyway levels they'd be in much better shape.

matthew5080
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Re: Downtown Minneapolis Macy's Building

Postby matthew5080 » October 21st, 2016, 10:25 pm

The Ridgedale Macy's is by far the best one, in my opinion. However, it would be sad to see the downtown store close.

kirby96
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Re: Downtown Minneapolis Macy's Building

Postby kirby96 » October 22nd, 2016, 8:09 am

Given the state of retail downtown, isn't this probably a sad thing, albeit one with a potential silver lining? Take away five stories of humdrum retail, put back a street level of smaller retail and potentially fill the rest with workers: seems a lot more in line with today's realities and should be good for street level retail, no?

Basically, the point being that downtown stopped being a retail destination many years ago, and this takes out a lot of unneeded supply which could be helpful to retail geared towards a growing residential and office demography.

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seanrichardryan
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Re: Downtown Minneapolis Macy's Building

Postby seanrichardryan » October 22nd, 2016, 8:40 am

A proper building renovation with real windows and multiple storefronts could be a boon for downtown. They could even cut in an atrium.
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Tcmetro
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Re: Downtown Minneapolis Macy's Building

Postby Tcmetro » October 22nd, 2016, 2:09 pm

Isn't the issue with converting to office is that the floor plates aren't very accommodating of modern uses and simply that the building is quite old?

I think that converting the first and second floors into multitenant retail would be wonderful. Maybe the rest of the building could go residential?

gopherfan
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Re: Downtown Minneapolis Macy's Building

Postby gopherfan » October 22nd, 2016, 9:33 pm

Mpls needs to focus on Millennial retail to capture UMN shoppers before they can make their way to uptown or MOA. Downtown Council needs to attract Apple, H&M, Victoria's Secret, Forever 21, & Urban Outfitters!

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nBode
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Re: Downtown Minneapolis Macy's Building

Postby nBode » October 22nd, 2016, 11:46 pm

^actually, that might be a good idea.

HuskyGrad
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Re: Downtown Minneapolis Macy's Building

Postby HuskyGrad » November 10th, 2016, 2:03 pm

Macys to redevlop 50 more stores
http://fortune.com/2016/11/10/macys-real-estate-sales/

Also of note: The downtown Portland store has been sold and will close in the new year.

acs
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Re: Downtown Minneapolis Macy's Building

Postby acs » November 10th, 2016, 3:07 pm

"explore pre-development options". So they aren't going to do jack. Forbe's is making it out like this is just more foot-dragging by Macy's to appease investors.

Rube Dali
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Re: Downtown Minneapolis Macy's Building

Postby Rube Dali » December 1st, 2016, 3:28 pm

Buildings, what buildings?

xandrex
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Re: Downtown Minneapolis Macy's Building

Postby xandrex » December 1st, 2016, 3:57 pm


Silophant
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Re: Downtown Minneapolis Macy's Building

Postby Silophant » December 1st, 2016, 3:57 pm

Well, crap. I was hoping they'd just shrink further. It obviously wasn't busy enough to warrant all the space it still had, but it was never completely empty when I passed through. I think it maybe could have still worked with just two floors of retail instead of five.


Also, I'll miss the skyroom. Hopefully someone can lease that out and continue it, even if the rest of the building is vacant. It certainly fills up daily at lunchtime.

Minneboy
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Re: Downtown Minneapolis Macy's Building

Postby Minneboy » December 1st, 2016, 5:43 pm

Goodbye Macy's and close your mall stores as well.

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jtoemke
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Re: Downtown Minneapolis Macy's Building

Postby jtoemke » December 2nd, 2016, 7:41 am

I know we are sad but the redevelopment plans are sick. The design is in the SD phase. But it's a secret... soo...... That's it

mattaudio
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Re: Downtown Minneapolis Macy's Building

Postby mattaudio » December 2nd, 2016, 8:31 am

Based on how this is going down, I think it's much more of an indictment of the Macy's company and their cash flow situation than it is about the Minneapolis location specifically. If they would have shrunk, it would have made much more sense. But Macy's is planning to close 1/3 of their stores? I give Macy's a 50/50 shot of existing in 5 years.


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