Trader Joes

[coredumped]

It looks like Trader Joes is opening in Gainesville:
http://www.gainesville.com/article/20120806/ARTICLES/120809731
(also confirmed on the trader joes website).

Has anyone heard any plans for them to move to the jacksonville market? It seems weird they'd move to gainesville and not Jax or Orlando.

[ben says]

It looks like Trader Joes is opening in Gainesville:
http://www.gainesville.com/article/20120806/ARTICLES/120809731
(also confirmed on the trader joes website).

Has anyone heard any plans for them to move to the jacksonville market? It seems weird they'd move to gainesville and not Jax or Orlando.

I think a Trader Joes would do great at the new 220 Riverside development. Sandwiched right between downtown and Riverside, business shouldn't be a problem.

That being said....clearly I'm in the minority, but I don't see what the big fuss is about a Trader Joes. I've been to them in Arizona, Cali, NY, SC....all of them kinda felt just "OK" to me. I'd rather go to Grassroots or Publix.

[finehoe]

http://www.traderjoes.com/

[fsquid]

My wife went all the time in Charlotte

[simms3]

Typically I'd guess every major shopping center owner in Jacksonville (Regency, Equity One which has the Whole Foods, even Sleiman, etc) would be all over trying to land a TJ's.  TJ's has the highest sales PSF of any grocer, nearly double that of Whole Foods.  Its footprint is small, it pays pretty solid rent and it drives a ton of traffic (also doesn't need a fancy store like Whole Foods and tends to sign 10 year leases rather than long term ground leases or own its own land).

However, looking at the Whole Foods center in Mandarin (Mandarin Landing owned by south FL REIT Equity One), it does not appear that landing Whole Foods as an anchor has done much for the center.  I'm looking online at their site plan and there are some pretty hefty vacancies right next to the WF, front and center.  The only tenant I know of that is new since WF is Aveda, which is a great tenant.  Being the only WF in NE FL, you'd think the center would be 100% occupied by great local tenants and lots of credit.

And the other in-line tenants are pretty miserable.  Mandarin Landing Shoe Repair.  Luxy Nail Spa.  Jackson Hewitt (I believe credit but then again it's Jackson Hewitt, the lowest of the tax consultants).  Sign-A-Rama.  Round Robin Consignment.  The Good Feet Store.

WF has been there for years now, so you'd think some of these lesser tenants would have rolled and been replaced by strong national, regional and/or credit tenants wanting to be near Whole Foods' customer base.  Apparently not so, not even with the renovation/modernization of the center, the location and trade area, strong upscale customer base going to Aveda and WF, traffic on SR-13, etc.  Maybe WF isn't doing well there (that would be something that gets out into the community, especially since it was a test case for Jacksonville).

Contrast, there are 9 Whole Foods in metro Atlanta, and they have all driven strong retail to them.  North Face and uber high end salons and restaurants went in next to the self-owned WF in Buckhead.  The newest WF in the metro is at Edens and Avant's Merchants Walk location (Edens is an absolutely phenominal retail company, highly regarded and very creative, look them up, based in SC).  In addition to securing major credit anchors like Kohls, Ulta, Petsmart, Old Navy and Stein Mart, the center was then able to choose which in-line tenants they wanted because every strong local retailer and lots of nationals wanted in thanks to WF and the center renovation.  They chose Savvy Snoot, Cook's Warehouse, Marlowe's Tavern, Rhinoceros Boutique, The Bar Method, Gigi's Cupcakes, Fab'rik, Chipotle and Pinkberry.

Merchants Walk is in the Mandarin of Atlanta - East Cobb County.  It's suburban, arterial road oriented, affluent and heavily Jewish.  Whole Foods should kill it in Mandarin if it does well in East Cobb.

It's just weird that being the only WF in a large trade area has not driven strong retail to that center.  I'm sure developers in town are taking note and using caution when spending resources to secure that one and only anchor tenant that nobody else has, because it may not translate to a better bottom line for them in NE FL.

[Tacachale]

Several years ago the company was considering opening a store in Neptune Beach. It didn't happen because of the collapse and because they weren't really knocked out by the site. It looks like they are interested in the market and expanding in Florida in general; maybe when they find a site they're enthusiastic about there will be some movement.

[fsquid]

Love me some whole foods.  There is a Kirkland's there now too.   I'm amazed JAX had a WF before Charlotte

[jcjohnpaint]

I understand WF moving where it did to be central, but I think that location is terrible. 

[edjax]

In MandarinLanding in addition to the new Kirklands store recently opened a dentist office is currently doing a build out taking the entire corner area down from Enza's.

[ben says]

I understand WF moving where it did to be central, but I think that location is terrible.

They moved there because of the demographics, not because they though it was 'central'....tons of traffic, heavily-Jewish, higher income, etc

[coredumped]

Whole foods has some pretty good competition in that area - the fresh market is just down the road and is less of a headache to get in and out of.

I can't speak for that fresh market, but the FM up on san pablo is pretty busy.

[fsquid]

The Fresh Market is down by the Julington Creek bridge now.  Can't say I've ever seen it packed though

[jcjohnpaint]

Did I miss something?  What does TJ have to do with being Jewish?

[jcjohnpaint]

Sorry I meant WF

[JeffreyS]

Certainly the Beach and Riverside would be home runs for TJ.