Retail Trend Lines and Insights

dstMacy’s stock is up this morning. Their physical market presence is predictably down.

Do not buy their stock just yet. Wait until Macy’s closes nearly 100 stores in what is now regarded as the biggest red flag in retail merchandising since the market crash of 2008.

The retail segment of the CRE market has been flipped over and is shaking out. There’s more change coming as digital consumers and their shopping habits continue to shape the retail industry’s commitment to bricks-and-mortar operations.

Our behaviors are transforming some of the most renown retail establishments in the nation. In the end, the change will make them better because it is customer-driven.

Small is the New Big

We are going to see retailers continue to shrink their physical presence within all trade areas as small becomes the new big, where bits and bytes become modern transaction currency.

For me, the tightening of operating costs and the reduction in square footage is making a lot of sense in a world driven by Facebook, Twitter, YouTube, Google+ and the entire spectrum of millisecond communications. And, I have not even mentioned Amazon’s 30% per year growth rate each year for more than a decade straight.

Let’s remind ourselves that Apple sold a lot of iPods, iPhones and computers without a lot of retail operations. [Read more…]

The Rancher’s Wife – Uniquely Positioned in Historic Downtown Prescott

commercial web page prescott ranchers wife store logoAfter three decades of eating and breathing the commercial real estate business, it takes more to impress me. Age and experience tend to deceive us all into thinking we have seen it all.

Not Even Close!

Walking into The Rancher’s Wife on Whiskey Row in historic downtown Prescott, Arizona rekindled my imagination. The store, its location and its southwest ranch inventory demonstrated that I am not close to seeing it all… not yet, anyway.

The Rancher’s wife is nearly 5,500 SF of retail bliss, more than one can absorb in a single visit. I spent an hour walking through the isles of inventory imaging what the items might look like in my home in Prescott, Arizona.

Reminding myself that I was not there to shop, [Read more…]

Retail Tragedy and Triumph

Prescott retail commercial real estateNo, the dark moments of 2008 are not yet behind us. The Prescott and Prescott Valley, Arizona retail markets appear to be booming…emphasis on “appear.”

Looks can be, and often are, deceiving. Our local retail shopping centers we may be repeating history by overbuilding in a flat market that cannot sustain the economic demands of retailers.

Hearing the Giant Sucking Sound

Prescott and Prescott Valley are now two distinct retail markets with minimal consumer crossover. Frontier Village was Yavapai County’s first major retail mall. Prior to its development consumers shopped at what was then called “Ponderosa Plaza” located on Gail Gardner Way between Willow Creek Road and Iron Springs Road. At this point in retail history, Prescott Valley was still in a state of retail infancy.

As a result of the housing boom [Read more…]

Drive Through Restaurant Prime Location

Jack in the Box Prescott AZ Drive ThroughDrive through restaurants are in demand. Downtown drive through restaurants are in greater demand. Now, add to this fact that we have a former Jack in the Box drive through restaurant now available for lease and it’s located just three blocks from Prescott, Arizona’s historic downtown square and Whiskey Row.

Everyone in Prescott, and most repeat visitors, know the location. The traffic is an enormous 40,000± vehicles per day in the peak season.

Located on East Gurley Street, the property is on the main ingress/egress for nearly 1,000,000 annual visitors to Prescott.

DOWNLOAD THE FEATURE SHEET

In order to prepare the property for immediate availability, the initial demolition work has been completed by the Landlord, at Landlord’s cost. Environmental mitigation and clearance report is available.

The property was recently sold to a new owner and the City of Prescott completed curb, sidewalk and entry work on the west side of the property. According to Donald Teel, a Principal partner with Commercial Properties Northern Arizona, “This property is undoubtedly the best drive through entry and exit location for the downtown area.”

VISIT THE WEBSITE FOR MORE INFORMATION

Prescott AZ Drive Through Aerial

For current availability and leasing information, please contact Donald Teel by email or, if you prefer, contact him by phone at (928) 777-8100.