Artspace Seeks Commercial Tenants
After witnessing a few successful projects taking root on Main Street, I spoke with the Artspace team regarding what their commercial goals were for their building. Artspace, located directly across from the Delta Sonic complex, has successfully filled the residential floors of its Main Street building, and now they are pushing to move along the leasing of the first floor. Ever since WCP sent a link to Lucky Strike, I have thought that the first floor would be perfect for such a business. From Artspace:
Though the 60 residential units have been full since November, there is still 9,000 square feet of commercial space – totally rehabbed, bright, 16 foot ceiling height, right on Main Street commercial space – for rent at Artspace.
Finding the right commercial tenants is very important to Artspace – the owner and landlord - as well as to the people that live there. The space can be subdivided and is ready to be built out once lease commitments are made. Artspace seeks tenants that have the right “fit” with the community and will provide services/activities that the residents and neighborhood need – ideas include espresso, ethnic food, gallery, creative businesses and others.
Artspace is seeking a rental rate of $8 per square foot estimated gross rent (this means the rent includes insurance, property taxes, and common area maintenance costs). Utilities are not included in the rent.
Interested parties can contact Will Law at Artspace, will@artspaceusa.org, or Eva Hassett at Savarino Companies, evah@savarinoconstruction.com.
In recent weeks we have seen (or will see) open: a gourmet pizza place open, a chocolate bar, relocation of a bike shop and a hair salon, a gallery and we're witnessing UB's investment. It's been a long time since so much interest has been generated in this area. So what should Artspace be seeking in order to add to this growing mix of businesses?
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TownLine
Wow, that is pretty cheap. Granted its Main Street and they don't have the pedestrian traffic yet, but $8 for modern space (and its not triple net!) is priced to sell. Elmwood seeing more than double that for spaces that have MAJOR issues. Even graniteworks was asking some crazy retail rents. Is the business 100% responsible for the interior buildout? Hopefully this really helps that area take off quickly.
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TownLine
What is $/sf at Rocco's Ellicott Commons?
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tudorguy
What's going on with the little building just to the right of the main building (but still connected). It looks like complete crap - are they going to fix that up, too? It might help with the renting of retail...
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Matthewjohnp
A pawn shop. A nice shinny bright pawn shop.
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GDC
I can picture a funky cafe, art supply store and a clothing store (with the designer in house)
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SilentMajority
Lucky Strike..? What an interesting idea! If only I had thought of... wait a minute...
...bebuffalo.blogspot.com/2008/01/lucky-buffalo.html
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queenseyes
From Eva:
1217 Main was not originally part of the Artspace project, but when the building came up for sale Artspace quickly bought it. Funds had to be raised separately for this phase, but a total gut rehab is underway. The timing is just a little behind the original project. 1217 Main is for lease as well: the ground floor is about 2000 sf. The upstairs will likely be 1 or 2 more apartments. There is a small “garden” area in the back of the building. 1217 is not connected to the larger building at present.
Happy to answer any questions. Eva
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RaChaCha
I've been very impressed with the art supply store several blocks farther south on Main near Allen. In My Fair City, most of our city art supply shops have left for the suburbs or closed altogether. That business would be a natural fit with ArtSpace, and it might not be difficult to entice them away from their current location next door to buildings which may be facing imminent demolition - or even collapse - if those responsible don't take action soon.
About the 1217 building which snuggles up against the main ArtSpace building, I've always liked that little building but didn't realize it wasn't part of the original project. In my view, it would be interesting to eventually install some kind of feature like public art or sculpture on the roof or above the facade, as it would serve (in planner-speak) as a "terminal view" down Barker Street - serving to entice the eye (and pedestrians) down Barker from Delaware and Linwood toward Main Street, ArtSpace, and "Midtown" on the near-East Side. There are many gems in the vicinity: Coe Place, ArtSpace, Delaware Avenue (the intersection with Barker features several mansions and Max Abramovitz' Temple Beth Zion), and Linwood Avenue (the intersection with Barker features incredible turreted apartment buildings) among them, and that little 1217 building is uniquely positioned to be a visual link between them. Something as basic as a tastefully designed framework on which art banners could be anchored and visible from three directions, might fill the bill.
While some may find 1217 Main an ugly duckling at present, I'm betting that the folks at Savarino and ArtSpace can and will turn it into a swan.
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dixiechick
I think that the time is ripe for this 'duckling' to grow into a swan. Some people think that there needs to be an audience, or walking/buying traffic before developing a business. That is not a bad business plan at all. But In the days of artists Loft space in NYC, that wasn't a concern.
It was spaces like this that brought business and walking traffic and economic development that made areas like SOHO the place to be and be seen. Yep, that process eventually caused a raise in rents, etc...and the true nature of the neighborhood was lost...but hey! Manhattan is an Island. I think that this is a worthwhile investment opportunity to build a community. Wow! Wouldn't it be great to think outside of the box, and bring Main Street back to a stellar neighborhood!?!
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