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The Invisible Retail Deals

By Eric Richardson
Published: Tuesday, May 08, 2007, at 01:41PM
For Lease Eric Richardson [Flickr]

This week's Downtown News runs a profile of Derrick Moore, the CBRE retail broker whose name appears around Downtown on property for lease. The article says that Derek's currently representing 250,000 sq. feet of retail space.

Like many articles before it, this one talks of a newly completed deal, this time in the Brockman building.

And in what was once considered a retail no-man's land, the ink is barely dry on a lease for a sprawling gourmet market and restaurant on the glass-enclosed ground floor of the 80-condo Brockman Building at 530 W. Seventh St., one of the major components in a budding effort to create a thriving "Restaurant Row" on the street.

"This deal is key for Seventh Street in that it will unite the Jewelry District and blend into the Financial District," Moore said. "It's a type of Dean & Deluca place where you can meet, people watch, see and be seen."

What frustrates me about these sort of deals is that there's no evidence to the person on the street that this deal has been done. The sign on the building still says it's up for lease, as do signs on various other retail sites we've heard are spoken for (Fine Arts Building, 617 W. 7th, etc).

It's nice to hear of deals, but I'll be happier when I can see them. If the casual passerby on the street still sees all the empty retail and signs saying the spaces are available, how are they supposed to know that all this cool stuff is going on?

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