08-14-2019, 04:55 PM
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#141
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Franchise Player
Join Date: Dec 2012
Location: On your last nerve...:D
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Yeah, I thought initially, when they first started talking about the mall, that there was never to be any leasing, only selling so small business people could get a start. I obviously may be misremembering that. Still, the lease costs must be ridiculous, for so many units to still be empty, this far out from the mall opening.
I just googled and an article popped up from March. $2000/month for one of those tiny little units, which is the amount I guesstimated when we were in there, and my daughter and I were talking about how empty it was. That big store that just opened is getting 8 months free rent & financial aid for improvements on the space they're occupying. The mall figures with it open & the farmer's market, it will drive other businesses to open. I don't know. $2000/month for 450 sq ft seems stupid high *to me*. One guy who owns a couple of other spaces besides the one he occupies thinks $6K/month for the 436 sq ft each unit is, is fair but can't find tenants willing to pay that. No kidding, dude. $6k/month is insane.
Last edited by Minnie; 08-14-2019 at 05:06 PM.
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08-14-2019, 05:00 PM
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#142
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Franchise Player
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You have to sell a lot of crappy phone cases and chargers to make $2000 a month, jsut to break even.
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08-14-2019, 05:55 PM
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#143
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Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
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Yeah. It’s totally the wrong business model for a retail environment. It needs to be services or small office spaces. Like new lawyer or accountant or engineer needing some small space to meet clients or have a place to do work.
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08-14-2019, 09:27 PM
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#144
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Franchise Player
Join Date: Feb 2010
Location: Hyperbole Chamber
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And 20km south.
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08-15-2019, 07:56 AM
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#145
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by Wormius
Yeah. It’s totally the wrong business model for a retail environment. It needs to be services or small office spaces. Like new lawyer or accountant or engineer needing some small space to meet clients or have a place to do work.
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Not in the middle of nowhere.
__________________
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08-15-2019, 08:03 AM
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#146
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Franchise Player
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The only hope is to turn it into a bitcoin mine. Can't lose.
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08-15-2019, 08:46 AM
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#147
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#1 Goaltender
Join Date: Sep 2005
Location: Calgary, AB
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I'm looking forward to never stepping foot in this mall.
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08-15-2019, 08:49 AM
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#148
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Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
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Quote:
Originally Posted by Locke
Not in the middle of nowhere.
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It's not a horrible location for anybody living in the NW/NE that has good access to Deerfoot or Stoney Tr that needs a small workspace or someplace to meet with clients.
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08-15-2019, 08:57 AM
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#149
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Participant  |
Quote:
Originally Posted by Wormius
It's not a horrible location for anybody living in the NW/NE that has good access to Deerfoot or Stoney Tr that needs a small workspace or someplace to meet with clients.
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But it's probably a horrible location for the majority of their clients.
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08-15-2019, 09:15 AM
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#150
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Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
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Quote:
Originally Posted by PepsiFree
But it's probably a horrible location for the majority of their clients.
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Possibly, but it doesn’t stop people from frequenting businesses in that area. If I lived in close enough proximity to downtown, I wouldn’t drive up there to visit a lawyer, however since I am close enough it would make sense.
What I am saying though is that the concept of a retail setting is flawed. There isn’t enough cheap labour to sell worthless trinkets and cover the lease and make a profit. It is workable for a small business space for startups or one/two person office gigs.
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08-15-2019, 09:26 AM
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#151
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Winebar Kensington
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Quote:
Originally Posted by Wormius
Yeah. It’s totally the wrong business model for a retail environment. It needs to be services or small office spaces. Like new lawyer or accountant or engineer needing some small space to meet clients or have a place to do work.
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At $2000 per month? You can get larger more central offices for $1000 per month.
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08-15-2019, 10:08 AM
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#152
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#1 Goaltender
Join Date: Oct 2009
Location: North of the River, South of the Bluff
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This is exactly what has happened in mainland China on a micro scale. Speculation run amok.
I can't see a way out for this mall. As others said, what product has a margin that will allow for $2000/mo to not just squeak by but make a tidy profit to pull more bushiness into the empty shops.
Factor in there is zero captive audience in the area. Ex: condos. That would drive a convince factor.
Also factor in that these small business folks can sell online in a marketplace for minimal cost per month. On Monday I ordered off Amazon at 10AM and got my stuff at 5PM same day.
What needs to happen is the owners need to have a condo board meeting and agree to give away space or put it at cost. Get critical mass and maybe some day they can start to creep up rent. However, with multiple owners with different contexts good luck with that.
More realistically I am looking forward to it turning into the largest kids play park in North America in 2022.
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08-15-2019, 10:16 AM
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#153
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Franchise Player
Join Date: Feb 2010
Location: Hyperbole Chamber
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Quote:
Originally Posted by Wormius
Possibly, but it doesn’t stop people from frequenting businesses in that area. If I lived in close enough proximity to downtown, I wouldn’t drive up there to visit a lawyer, however since I am close enough it would make sense.
What I am saying though is that the concept of a retail setting is flawed. There isn’t enough cheap labour to sell worthless trinkets and cover the lease and make a profit. It is workable for a small business space for startups or one/two person office gigs.
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That land would be a great location for a farm.
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08-15-2019, 11:45 AM
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#155
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Franchise Player
Join Date: Jul 2003
Location: Sector 7-G
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Quote:
Originally Posted by hah
Great location for a new event centre.   |
No it's not.
Signed,
Ottawa
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08-15-2019, 12:47 PM
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#156
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Franchise Player
Join Date: Dec 2012
Location: On your last nerve...:D
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Quote:
Originally Posted by Engine09
I'm looking forward to never stepping foot in this mall.
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The only reason we even considered going in was simply for the farmer's market. The people who used to have the one in Symon's Valley, that burned down a couple of years ago, are the ones who will be setting the one up in the mall. Our local FM is very tiny, in a crap location and is mostly a bunch of MLMs selling, so I was kind of looking forward to this one being close enough that I didn't have to go to the CFM all the way down south, off Blackfoot. Having found out that that new "Chinese Walmart" is in the other end and open, we'd probably check it out once just to see what it's all about but beyond the FM, I don't see us frequenting any other part of the mall.
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08-15-2019, 01:14 PM
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#157
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Franchise Player
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How high is the ceiling?
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08-15-2019, 01:21 PM
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#158
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Jordan!
Join Date: Jul 2009
Location: Chandler, AZ
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Quote:
Originally Posted by I-Hate-Hulse
No it's not.
Signed,
Ottawa
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Signed,
Glendale
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08-15-2019, 05:03 PM
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#159
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Franchise Player
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Have you guy ever been to cross iron? place is jam ####ing packed...location is fine it just has nothing to offer
__________________
GFG
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08-15-2019, 06:31 PM
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#160
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Franchise Player
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Quote:
Originally Posted by dino7c
Have you guy ever been to cross iron? place is jam ####ing packed...location is fine it just has nothing to offer
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Oh really? Where are you gonna get inexpensive cell phone cases then?
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