One of the things that the 12th Avenue Initiative has been tracking in the business district is vacancy rates. So far this year we have more new businesses opening on and around 12th than those that haved moved and/or closed shop. In general, this is pretty healthy, especially since we are in the midst of a national recession.
There are some spaces on 12th, however, that have been empty for a really long time. Like 2+ years empty. The biggest and most glaring vacancy is the corner space in the old Trace Lofts building at the corner of 12th & Madison:
corner retail at trace lofts
According to Laura Miller, commercial leasing agent for the space, the Owner of the building is holding out for a gym to occupy the space. Because of the size of the corner retail (almost 8,000 square feet!) and its configuration with only one entrance and lots of structural supports throughout the space (20 of them!) it has been hard to market to anyone else, such as a restaurant. Check out the floor plan here to see what I am talking about.
Anyway, today I stumbled upon this blog discussion of whether people actually want a gym in this space? Urbnlvn is a condo blog authored by someone who lives above this space. It is an old post, but I think that the conversation is relevant and important, since the space continues to sit and sit empty, a gaping hole in a growing business district. Most of the comments here indicate that a quality gym is missing from the neighborhood and would be welcome in this space.
So, do you want a gym at this location?
Do you think a gym would be good for the neighborhood?
If not, what else should go here?
Please weigh in. As it will help us target retailers who may be interested in occupying this space.
