Enterprise wants to move to the empty retail spot at the corner of Duval and Main Streets. They also want a discounted deal to store cars in the parking garage.
QuoteDIA OKs car rental deal
The company that picks you up might need a pick-me-up.
After approval by two City Council committees last week, a deal to relocate Enterprise Rent-A-Car from one Downtown location to another hit a speed bump Monday.
The company is in the Omni Downtown but wants to relocate to a vacant retail space within the Main Library parking garage.
The deal is for five years with three five-year renewal options at $10 per square foot for the 1,081-square-foot space. It also will rent 26 parking spaces for $45 per space, per month — a 20 percent discount.
The company would invest $89,000 for build-out on the space that has never been rented.
Downtown Investment Authority Board Chair Oliver Barakat, a commercial broker by trade, said the rent per-square-foot price for a corner spot was low and more in line with a non-corner spot.
full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=540596
May as well none of the retail is being used for anything else. My guess is the parking garage is far from capacity too.
hmmm .... occupying retail space vacant since construction ... utilizing garage space currently under utilized and surely subsidized by COJ .... driving pedestrian traffic to an area that more than likely would not see it otherwise ... sounds like a horrible idea
Have to say I was a bit surprised by Jim Bailey's comments. Yea moving this from the Omni will certainly result in their demise.
Quote from: thelakelander on September 24, 2013, 02:55:08 PM
Enterprise wants to move to the empty retail spot at the corner of Duval and Main Streets. They also want a discounted deal to store cars in the parking garage.
QuoteDIA OKs car rental deal
The company that picks you up might need a pick-me-up.
After approval by two City Council committees last week, a deal to relocate Enterprise Rent-A-Car from one Downtown location to another hit a speed bump Monday.
The company is in the Omni Downtown but wants to relocate to a vacant retail space within the Main Library parking garage.
The deal is for five years with three five-year renewal options at $10 per square foot for the 1,081-square-foot space. It also will rent 26 parking spaces for $45 per space, per month — a 20 percent discount.
The company would invest $89,000 for build-out on the space that has never been rented.
Downtown Investment Authority Board Chair Oliver Barakat, a commercial broker by trade, said the rent per-square-foot price for a corner spot was low and more in line with a non-corner spot.
full article: http://www.jaxdailyrecord.com/showstory.php?Story_id=540596
Now here is a Smart idea! :)
Of course it is market value! How many other offers do they have??
QuoteBoard member Kay Harper called those rates "shockingly low."
Actually the rates they have been asking are shockingly high if they've never had a tenant.
Also, whatever happened to the Sustainability Resource Center that was to open in the retail portion of the garage? Guess they have people lined up to rent space there.
It makes logical sense for everyone. How many vehicles can Enterprise keep on site at Omni without impacting its parking? If Marriott does go in at Trio, its a business class hotel and will have a need for rental cars for customers.
Of course, now, we just need the skyway or some other mass transit running between downtown and airport. Naaahhhh ... we have to hire a new czar for that first.
Quote from: edjax on September 24, 2013, 04:06:22 PM
Also, whatever happened to the Sustainability Resource Center that was to open in the retail portion of the garage? Guess they have people lined up to rent space there.
When the Downtown Library was being built a lot of people said lets do a bridge between the Library and the new parking garage smart idea? But the Idiots running the city at the time said no to the bridge because no one would go to the stores on the ground floor of the new parking garage? What Stores?
The importance of human scale design is something we've routinely ignored in the downtown redevelopment discussion. A bridge would not have changed the environment of Duval Street today. We screwed Duval Street when we tore out storefronts and replaced them with a block long blank wall.
Quote from: edjax on September 24, 2013, 04:06:22 PM
Also, whatever happened to the Sustainability Resource Center that was to open in the retail portion of the garage? Guess they have people lined up to rent space there.
I think they are still trying to go in there. Their sign is still up. However, they need to raise the money to afford the buildout. Enterprise is looking at another empty space with a dirt floor in that garage.
Quote from: Lunican on September 24, 2013, 03:53:09 PM
Of course it is market value! How many other offers do they have??
QuoteBoard member Kay Harper called those rates "shockingly low."
Actually the rates they have been asking are shockingly high if they've never had a tenant.
Interesting perspective and one I'm inclined to agree with. How long have these retail spaces sat empty? Is this garage anywhere near being fully utilized on a regular basis? If not, perhaps the real market isn't what we think it may or want it to be.
Lake - To the best of my knowledge and based on previous visual inspection, the retail portion of the garage has never been occupied. The garage is underutilized. Its location is not convenient for parking to service the commercial buildings near the Riverfront or perhaps even necessary to do so.
As I mentioned previously, we should be jumping at the opportunity to get someone in there.
This should be a no-brainer. Hell - the city should have been knocking on Enterprises door and offering free rent for a year just to get someone in there to do the buildout. I hope they don't ruin this one too.
^ why? Enterprise is already downtown
It seems like the city gets over on Enterprise spending nearly $100k to build this space out. Whenever Enterprise closes and moves on, that's an expense COJ won't have to worry about anymore in making this space useful.
WOW! Talk about the deer in the headlight looks on the Board members of DIA when this is going to a council vote the next night.
Again, councilwoman Boyer saved the day. So what action did city council take?
Enterprise wants a twenty year deal. And the reason that they are leaving the Omni is because they gave a 90 day notice. So if they gave their notice then the DIA should have known something about this deal prior to the next day city council vote. May be they did but I didn't get that impression. Jack Shad said he wanted to present this last week but the DIA Board meeting was rescheduled.
Jack Shad also revealed and somebody correct me if I heard this wrong but DIA will have no power over Parking revenue as it relates to coming back to fund the Authority? Is that good or bad?
And let's remember that OED had DIA vote away their power to negotiate and spend $4,000,000 plus on 6 Downtown projects. The USS Adams should have been on the list but it wasn't. Big concern.
A new Authority
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or
It will Embrace Us
Quote from: thelakelander on September 25, 2013, 04:39:41 PM
It seems like the city gets over on Enterprise spending nearly $100k to build this space out. Whenever Enterprise closes and moves on, that's an expense COJ won't have to worry about anymore in making this space useful.
Seriously. This is a no brainer. If Enterprise wants to furnish the space for this amont, let them do it.
Shockingly low? Well, supply and demand says that if no one has occupied this since 2005, then the price is too high, and perhaps some folks need a financial reality check.