01-19-2015, 08:08 PM
Ya, me too. Didn't know if there was anything more recent. The failures though? Weren't they on David St, and I seem to recall their sign (now replaced) over at a woodlot on Bleams west of Homer Watson...
(01-18-2015, 06:25 PM)Smore Wrote: [ -> ]What was the last project Revel/Madison completed? Anyone?
(01-19-2015, 04:24 PM)gomesjustin Wrote: [ -> ](01-18-2015, 06:25 PM)Smore Wrote: [ -> ]What was the last project Revel/Madison completed? Anyone?
Silver Thread Lofts in Waterloo? That's the last one I can remember.
(04-09-2015, 01:40 PM)panamaniac Wrote: [ -> ]Artisan Zone in the old Kabel's building on King St W has closed due to a "failure of lease renegotiations". They are apparently planning to relocate, although I don't know where.
Fine Feathers (womens clothing and accessories) on Ontario St N. has also recently closed.
I remain concerned that the rent ambitions of Downtown landlords and property developers are making it difficult for retail to have much of a chance in the core.
(04-09-2015, 01:51 PM)BuildingScout Wrote: [ -> ]I said it before and I will say it again. Do not sign a lease for your startup business that does not include automatic renewal provisions at pre-established prices. Big chains demand 20 years at CPI or thereabouts with an option for another 5-20 at slightly better terms to the landlord.Savvy retailers argue that they need long(er) term leases in order to amortize all the leasehold improvements they intend to make.
(04-09-2015, 03:05 PM)ookpik Wrote: [ -> ](04-09-2015, 01:51 PM)BuildingScout Wrote: [ -> ]I said it before and I will say it again. Do not sign a lease for your startup business that does not include automatic renewal provisions at pre-established prices. Big chains demand 20 years at CPI or thereabouts with an option for another 5-20 at slightly better terms to the landlord.Savvy retailers argue that they need long(er) term leases in order to amortize all the leasehold improvements they intend to make.
(Restaurants in particular usually require expensive leaseholds. Think kitchen. That makes Imbibe's situation even more curious. What were they thinking? But I'm digressing.)
(04-09-2015, 03:20 PM)Viewfromthe42 Wrote: [ -> ]What do you mean "what were they thinking?", they got the kitchen partly/mostly/all from the café that preceeded them.Fair enough. But now that they're moving they need to spend $$$ on a new kitchen--or find a place with a suitable kitchen.
(04-09-2015, 03:34 PM)ookpik Wrote: [ -> ](04-09-2015, 03:20 PM)Viewfromthe42 Wrote: [ -> ]What do you mean "what were they thinking?", they got the kitchen partly/mostly/all from the café that preceeded them.Fair enough. But now that they're moving they need to spend $$$ on a new kitchen--or find a place with a suitable kitchen.
(04-09-2015, 09:13 PM)BuildingScout Wrote: [ -> ](04-09-2015, 03:34 PM)ookpik Wrote: [ -> ]Fair enough. But now that they're moving they need to spend $$$ on a new kitchen--or find a place with a suitable kitchen.
The former "The Ren @ 41" site perhaps?
p.s. I think The Museum will come to regret this and might even fold since they can ill afford the loss of revenue (they have no prospective tenant yet).
(04-09-2015, 09:29 PM)Lens Wrote: [ -> ]That would be a good spot IMO. Maybe the former Casablanca space, although I feel like it may be off the market.
It would certainly hurt them but the revenue from such a small space SHOULD not be a very significant part of their total revenue.
(04-09-2015, 10:06 PM)BuildingScout Wrote: [ -> ](04-09-2015, 09:29 PM)Lens Wrote: [ -> ]That would be a good spot IMO. Maybe the former Casablanca space, although I feel like it may be off the market.
It would certainly hurt them but the revenue from such a small space SHOULD not be a very significant part of their total revenue.
Two years ago they were struggling to get the last $10K to balance their books. My guess is that Imbibe paid more than $10k a year in rent.