Congratulations to Root Down Power Yoga for creating their new studio space at our listing, 1 Linden Place, located at 425 Main Street in Hartford, CT.
Photo Courtesy of @rootdownpoweryoga
Nicole Bengtson, founder of Root Down Power Yoga, has announced a Grand Opening for Saturday, April 6, 2019!
For more information about all their studio has to offer, or to book a class, please visit their website at: https://rootdownpoweryoga.com/
Retail isn’t all doom and gloom
There are plenty of retailers that are opening stores instead of closing them. Moreover, many are planning to expand beyond this year. However, there is a fundamental change that is happening causing this weird paradigm where there are brand named box store closings everywhere while simultaneously brand named stores are opening and expanding.
The need for enormous department stores and outlet buildings has passed. These days retail is getting smaller as the industry overall is diversifying. News of thousands of closures has led many to believe that retail is dead, but there are many retail store brands that are thriving.
Online Retail Giants Opening Brick-and-Mortar Stores
A big part of this phenomenon is the emergence of online retailers in the physical retail space. Amazon isn’t the only online retail giant getting into brick-and-mortar. The now famous Warby Parker is on pace to nearly double its total number of stores to 100. Bonobos, Untuck, and Everlane are just a few brands that have built their reputations online and are now looking to expand into the retail space, buying up some of the 3K+ stores going up for sale this year. There are an estimated 1,700 new stores slated to open in 2018 but contrary to popular belief, many of those stores are well known brands like Zales, Best Buy, and Autozone.
Traditional Stores are Buying Up Space and Opening New Stores
Toys R Us closed all of their U.S. stores this year. That is after a long trend of named brand store closures including JCPenney, Sears, and Kohl’s. This year, we’ll see twice as many stores close as open, but there are many traditional retailers that will be in the latter group.
Aldi’s has been expanding its presence in the U.S. for the last several years. This year, the German grocer will add approximately 180 new stores. Ultimately Aldi’s plans to operate at least 2,500 stores in the U.S. within the next 5 years.
Perhaps it’s a sign of the times but the biggest expansion happening this year is with discount giant Dollar General. While not necessarily a grocery store, it combines both retail and grocery at discounted rates. They plan to open 900 new stores in 2018.
Northridge in Windham, CT offers an outstanding development opportunity for a mixed-use project amongst a partially completed built out power center. The land development opportunity is quite unusual with 35 acres of development land with infrastructure in place surrounding an extremely successful Super Walmart as well as a Home Depot. The remaining land available lends itself to a major mixed-use project, with modern conveniences to fit into established retail mecca in Windham. The area is a vibrant established College community with the Eastern Connecticut State University in town and the main campus of the University of Connecticut at Storrs along with The University Club Golf Course within 15 minutes from the site. The Northridge mixed-use project, could provide a much-needed student housing community with amenities of health clubs, hospitality products, medical outpatient centers, entertainment experiences and new restaurant opportunities. Northridge has the land and opportunity to be a successful mixed-use project. Located along CT Route 6 the area is already a major retail hub for Windham County.
For information on this property, contact the listing broker, Hugh Schnip, at Hschnip@naielite.com
Hate hearing it the hard way in commercial real estate? Please enjoy some of our favorites!
But if you keep on your grind, focus on the positive, and always place the client’s needs first, you are bound to hear…
Mixed Use Office/Retail Building |32,144SF||$1,449,000
Walking Distance to Union Station, XL Center, Bushnell Park & More!
Views of CBD & State Capitol
Rooftop Patio w/ Elevator Access
Billboard Signage Visible from I-84
**Full 5% Fee to Buyer Broker If Closed Before July 4th!**
Contact firstname.lastname@example.org for more information!
Business for Downtown Hartford (BFDH) in partnership with The Hartford Business Improvement District, the MetroHartford Alliance and City of Hartford invite you to an open house and tour showcasing ground floor retail rental properties available in the Central Business District in Downtown Hartford.
Find NAI Elite at our building located at 450 Church Street! Great retail space for sale and lease featuring underground parking and a rooftop patio!
Wednesday, June 14, 2017 from 3:00 p.m. to 6:00 p.m.This event is FREE and open to the public. Register here
and be part of Hartford’s future!