Too much retail on the West Side?

[John Guscott]

Occasionally I will see someone on the LO Deck post a comment about the Cleveland area having too much retail space for the population to actually support.

I never bothered to look into this "factoid" further, but, at least according to today's Wall Street Journal, Cleveland does indeed have more retail than it can support.

Turns out that Cleveland has DOUBLE the national average of retail space for a major marketing area, and, at least for the near term-future, it is very likely unsupportable, thanks to economic and demographic trends.

The article’s forecast is depressing - one looming problem is that more local retail businesses will likely shutter their doors as the housing crisis issue and its aftermath continues to work itself out....

The article comments that the slowdown in commercial rentals (which is a tax boon to many communities, especially ones light in industry, like Lakewood), are “leaving retail-property owners with rising vacancies and slower leasing rates for new space.â€Â￾

If you want to read the full article, you unfortunately will have to get a copy of the dead tree version, since the WSJ walls off their online articles to non-subscribers. You can read a good summary of the piece on today's Crain's blog:
http://www.crainscleveland.com/article/ ... wsletter01

After seeing the slow growth of RR's Beachcliff shopping area, and recent vacancies in the Lakewood/RR region (i.e., fitness club River Oaks, also near Beachcliff, will likely close, according to yesterday’s PD), I wonder how similar retail developments that are planned for Lakewood will fare? Is there really too much retail on the West side?

[Jim O'Bryan]

After seeing the slow growth of RR's Beachcliff shopping area, and recent vacancies in the Lakewood/RR region (i.e., fitness club River Oaks, also near Beachcliff, will likely close, according to yesterday?s PD), I wonder how similar retail developments that are planned for Lakewood will fare? Is there really too much retail on the West side?

John

I will not dance the "thank god it was never..." The fact remains as identified in one of the first post and in the visionary alignment. Lakewood is perfectly situated if we are smart enough to get it right.

The day is now here where the rental market is rising quickly. People losing homes, and people not getting free loans, the market will grow very quickly. A couple months ago Kramer from "Mad Money" told people on both coasts, "just stop paying your mortgage, grab what you can pack the car and get away now, and you will get a premium rental. This house you will never pay off, so might as well get a good rental NOW!"

While overplaying the problem. A person can lose a nice house in Seattle and get what he can salvage out of it, and move to the area, get a nice house on the lake, and live comfortably.

The future is ours, if only people looked. Our future is and cannot be tied to Cleveland, we must chart our own future, and stick to it.

.

[Stephen Eisel]

After seeing the slow growth of RR's Beachcliff shopping area, and recent vacancies in the Lakewood/RR region (i.e., fitness club River Oaks, also near Beachcliff, will likely close, according to yesterday?s PD), I wonder how similar retail developments that are planned for Lakewood will fare? Is there really too much retail on the West side?

John

I will not dance the "thank god it was never..." The fact remains as identified in one of the first post and in the visionary alignment. Lakewood is perfectly situated if we are smart enough to get it right.

The day is now here where the rental market is rising quickly. People losing homes, and people not getting free loans, the market will grow very quickly. A couple months ago Kramer from "Mad Money" told people on both coasts, "just stop paying your mortgage, grab what you can pack the car and get away now, and you will get a premium rental. This house you will never pay off, so might as well get a good rental NOW!"

While overplaying the problem. A person can lose a nice house in Seattle and get what he can salvage out of it, and move to the area, get a nice house on the lake, and live comfortably.

The future is ours, if only people looked. Our future is and cannot be tied to Cleveland, we must chart our own future, and stick to it.

.

it must be a cold day in Hades today... I agree with Jim

[Jim O'Bryan]

.

it must be a cold day in Hades today... I agree with Jim[/quote]

Two things.

1)Since the Republican chip was implanted at that party, of course we agree.

2) And because of that chip, I can assure you it is a cold day in Hades, just walk out your door. We are all down here now!




.

[Stephen Eisel]

Cigar Friday????



PS See, we told you it would not hurt

[Jim O'Bryan]

PS See, we told you it would not hurt

I am freesing cold all the time while surrounded by fire.

My soul is gone, and I think I am above God.

Outside of that it is OK, I guess.

Maybe you get used to it?


.

[Stephen Eisel]

PS See, we told you it would not hurt

I am freesing cold all the time while surrounded by fire.

My soul is gone, and I think I am above God.

Outside of that it is OK, I guess.

Maybe you get used to it?


.

The Snow Miser got use to it