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American Pie has been successful in similar markets for some time - both on South Street and in Center City.
The problem sometimes is with the way that real estate deals are structured - a low ball first couple of years followed by a ballooon payment a number of years out. And, if American Pie signed up (when did they open this shop) during times when there was lots of foot traffic, perhaps the market and demographics have shifted significantly. Still, it's always sad to see a good store close.
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Chris
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Businesses and/or Business Districts should continually invest in research to keep track of the changing market. |
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Just spoke with manager and it was not a case of rent - their lease had expired and they chose not to renew although she said the terms were very favorable given the vacancy on main. It was simply the case that the Manayunk location was always meant to be a marketing outpost for their larger store in CC, but with the closure of some of the higher end restaurants, they're no longer seeing the foot traffic and demographic that they used to, so it was a pretty easy decision.
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"Life's tough, and it's a lot tougher if you're stupid." My Dad |
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I got to know (a bit) the owner whilst doing some neighborhood planning work in Old City. We actually would have like to have her open up in our neighborhood. She impressed me as knowing her markets pretty well.
The problem is that neighborhoods change - and the demographics of her customers probably has changed, as well. Sort of like Urban Outfitters opening up Anthropoligie to cater to customers who have graduated to higher end goods. Still to bad. Vacant stores are just not good for any neighborhood. You all might approach one of the art coalitions about getting a display for the windows . . . or see if MNC could put together something about the neighborhood. I would imagine that a building owner would prefer to have something interesting in his/her windows - ought to make the strorefront more rentable.
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Let me put it this way Pug, I would prefer one of those places over a 3 bed, 1 bath, and no garage typical Manayunk row home. However, those developments are not my particular cup of tea non the less. I am not of the opinion that you are, so we can agree to disagree. I do think that the new owners of those condo developments can contribute greatly to the community if you give them a chance (I'm talking the people who move in there, not the developers).
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I agree. I'm not slighting the residence, but the developer to build them the over price box that they live in. Some people don't want to bother or don't have the skills to maintain a house so they opt for a condo or apartment. I respect that.
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