urbanSTL

We have a Dollar Tree here in Warson Woods. I'd welcome one downtown. Of course, what I really want is a Walgreens/CVS, but that's another story.

Do we know the location of this store?

^I don't think there is a firm location. The closest we have gotten in this thread is "possibly the Syndicate."

I should clarify my original "***** that" comment . If you are talking about the Dollar Store employing their traditional model which would consist of them buying a surface lot and building a strip mall-esque off street building with surface parking in front, then ***** that. (This is what I thought initially was being presented)

If they are looking to open in an existing retail space included in a building, which would (from my experience) be a rather new model for them, I would be open to seeing what they had in mind.

You have to think about the ultimate purpose of a "Dollar Tree".

What does it produce? Dollars! Don't know if that's a nut or a fruit first. But someone knows how to get dollars out of them

Now, who wants dollars? People!. Now not all people. Some like credit cards. Some like checks. Checks are becoming extinct though, so bummer for those poeple.

But where are people? Earth or the International Space Station. But specifically, there are some people in downtown St. Louis.

I'd wager there are some people in downtown STL who like dollars so I say YES! to the Dollar Tree. And may good fortune find you in downtown STL.

kbshapiro wrote:STLien,

Have you thought of the possibilities of what if Dollar Tree succeeds? Maybe you'll get the Walgreens, CVS Pharmacies, and other retailers you want when they see how successful Dollar Tree is. I'd recommend looking at things from a positive viewpoint.

KBS

Yea, I know the upside. I was just detailing the risk since that was the discussion. Im completely bullish on our downtown.

kbshapiro wrote: Personally, I think a dollar store will do well downtown. These stores are basically a 10,000 sf convenience store version of a grocery store or WM/ Target. Are they a "sexy" tenant? No. Will downtown residents or employees shop there to save money and time versus spending more on everyday items at Culinaria or driving to Brentwood to shop? Yes.

Thanks, Kevin

I dont think that Dollar Stores are 10k sqft in an urban location. I would think 5k and under (depending on city of course).

Also, low end retailers are popping up all over, which just start within the last 1-2 years. 5-10 years ago, you would not see a dollar store open in certain neighborhoods like you do now (ex A Deals Store just opened in Chesterfield Commons.)

And im sure downtown Clayton would like more retail but I doubt we'll see a dollar store. I could be wrong.

Can it come with the building next door?

STLien...Dollar Tree, Five Below, Family Dollar, and Dollar General are usually between 8,000 and 12,000 sf. The proposed dollar store going downtown is within the size perimeters I just discussed and will not be 5,000 sf.

They'll be going into an existing building (in reference to NewSTL2020's comment) and will not be building their own typical structure.

Also, these retailers would go into Clayton if they could pay the rent and find vacant spaces large enough for them. Simply, economics and availability working against them in Clayton. With that said, Five Below (10,291 sf if I rememer correctly) did make a deal in Brentwood.

I dont get why so many people on this board are against a dollar store coming downtown. Has it dawned on you that the CBD employs a large population of low wage service workers? They would definitely frequent the store. I know more than a couple of people with six figure salaries that shop at Wal-mart and would definitely go to the dollar store for small items (pencils, paper, snack, utensils etc.). Securing something like Dollar Tree or Family Dollar would be good for downtown and is likely a good indicator that mainstream retail sees downtown as a viable market. I'll be happy once I see a Panda Express, Dunkin Donut, Neighborhood Wal-mart etc. downtown. It means real people actually live there.

As posts got deleted, I will re-post from yesterday.


Kevin stated this would likely be in the area of 10-12K sq ft. Nothing to sneeze at. Will be great to have this chunk of space off the market. Always good to see retail vacancy rates decrease.

(Also, good to have you on the forum, Kevin. Please keep up the contributions, the insights are greatly appreciated.)

My pleasure. Anytime anyone has a question about retail, please feel free to ask.

Correct, the store will be a normal sized dollar store. As soon as the lease is finalized, I'll let you all know. The other big deal I've been discussing will be public within a week or so.

Why were the threads deleted???

^I believe Innov8ion said something about a forum update. Couldn't recover Wednesday's posts.

kbshapiro wrote:First national restaurant chain to locate downtown in a while. I'm thinking the last one to be maybe Hooters. Also, its not Olive Garden or any restaurant located anywhere in St. Louis Meto Area.

Yes, lot at the NE corner of Wash Ave and 18th. Some lot owners will sell, some hold. Depends on the owner. Depends on where the lot is

Flying Saucer in Cupples Station?

I forgot my earlier reply was deleted. 10k sq ft would be huge for a downtown dollar store. Im thinking the Park Pacific garage.

^ maybe not, but I'm sure a few starving SLU law school students might see this as a big plus in the near future.

I can't help notice how many Dollar Stores have popped up after Katrina going back and forth to a project I have in Plaquemines Parish, Louisiana. They are literally becoming the all in one mini marts/grocery store/pharmacy and everything in between for the little communities down Hwy 23. In a lot of respects they are better organized, cleaner and carry more stuff/better selection than some of the old mom and pop stores I run across in my travels.

Alex Ihnen wrote:^ So perhaps I'm not as familiar with Dollar Stores - though I've shopped in my fair share - but, grocery store? pharmacy? I don't think so, not from what I've seen.

I think it varies depending on the chain. Some are closer to lower-end, but full-service, retailers, while others are more like the "everything's a dollar"-type stores.

Family Dollar and Dollar General do offer groceries. I don't believe Dollar Tree does.

I still don't think downtown and a Dollar Store are a good match. A drug store like a Walgreens or CVS would be a better fit.

Couple things to think about....

A) both major pharmacy chains (for now), want nothing to do with downtown St. Louis

B) outside of pharmacy related products (which Culinaria carries), what's the difference between Dollar Tree/ Family Dollar/ Dollar General and Walgreens /CVS??

C) why say negative things/ not support a national retailer than wants to come to downtown St. Louis which brings Jobs/investment, blah blah blah???

D) have you thought of the positive repercussions of a Dollar Store succeeding in downtown St. Louis???

E) MOST IMPORTANTLY...CVS/WGs job is to make money for shareholders, if they felt they could make money downtown, they'd be here. So support everyone you can until you get the retailers you want.

Going to bed, good night,

Kevin

It's all about perception. Even though these dollar stores are starting to pop up in more affluent areas, the perception still associates them with neighborhoods that have a struggling economic class. You just don't think of a dollar store being in or around a development that sells high-end condos/lofts. It seems a lot of people on this thread are in support of a dollar type store coming downtown. I wonder if that thought would change if the store were in the bottom of their own building?

I'm still formulating an opinion but it would probably just have to be experienced to see the true outcome of what it might do to/for the area. And more specifically, what impact it might have on a specific building that has residential condos/lofts above it. It has the potential to be positive but equally has the potential to be negative. Take the Robert's Tower for example. If that would have been finished with high dollar condos, you think a dollar store would have further enhanced that development or even the area? I think not in a million years. In fact, they would have probably lost a lot of potential buyers had that happened. But a dollar store closer to, or on Broadway located deeper into the CBD, then my answer would probably be more to the positive side.

Its just one dollar store. The fate of the Downtown economy will not be made or broken by this store.

Put it in and see what happens.

kbshapiro wrote:E) MOST IMPORTANTLY...CVS/WGs job is to make money for shareholders, if they felt they could make money downtown, they'd be here. So support everyone you can until you get the retailers you want.

I don't know why they feel they can't. I've visited downtowns similar to ours in which there are multiple CVS and Walgreens stores, and not too long ago we had two Walgreens here in downtown STL. It seems to me that there's money to be made by whichever one wants to step up and build a store first.