Monday, October 09, 2006

reasons why Barnes & Noble won't renew lease

David Landes of Edgemont has a company -Royal Properties. His company is a commercial brokerage and ownership firm. They have handled many leasing deals on Central Ave including the movement of the Verizon store to their new location in the Dalewood Shopping Center. The old Verizon location is going to become a Vitamin Shoppe Retail.
According to David "Central Ave is going through a shift now. Retail rents have escalated over the past few years with rents now approaching $50 sq feet. Barnes and Noble felt that they have a store in Yonkers which does extremely well and one on Rt 119 and another in downtown White Plains which gives them a presence." ..."as long as rents continue to climb it will weed out the smaller retailer as they will not be able to afford the rents."

4 comments:

Merrill said...

Barnes and Noble was fantastic. It is worrying that many businness have closed on Central Avenue in the Town of Greenburgh. The Town may want to advertise to see if other retailers would be interested.

Civilis said...

First the Fine Arts theater and now Barnes and Noble this does not bode well for the town. Yet I'm not sure it's anything that the town can control this seems to be a state and county problem that is being felt on the local level.

Anonymous said...

It's laughable to hear barnes and noble in the same sentence as "small retailer". B&N has put so many smaller local bookstores out of business, it's hard to feel sorry for them. I feel for the staff, certainly, but there are other stores we could get in that space. Imagine a Panera, or some other food service estabishment. I'd love to see a place where you can have a leisurely meal. I fear it will become yet another bank, because that all that seems to be springing up these days.

Anonymous said...

Capitalism is a wonderful thing. If B&N has stores in Yonkers and White Plains, then a third really isn't necessary on Central Ave. I would much rather see a new innovative retailer that doesn't currently have a presence in the area occupy that space. A great casual dining or upscale restaurant would do very well at that location (although I believe sufficient parking would be a problem/obstacle). But that's just one example.

Give shoppers a reason to come to Greenburgh and the area will flourish. Let's not get upset if a retailer, who also has outlets to the north and south, decides to leave. The demographics surrounding this site will be quite compelling (among the highest incomes in the country) and if marketed well, WITH a supportive, pro-business Town, a great tenant will replace B&N that will employ our residents and generate tax revenues.