36 dollars a square foot leasing on Hendricks Avenue?

[stephendare]

The old warehouse station on Hendricks Avenue is undergoing renovations and redevelopment.

I spoke with the property developer last week and they are apparently putting in an Argentine Steakhouse in a second floor add on to the building.

They want to rent the downstairs to a minimall of sorts.

35 bucks a square foot.

For a shop measuring 20 ft by 50 feet, this would boil down to 3 thousand dollars a month in rent.

Is San Marco there yet on Hendricks Avenue?  By a rail track?

[thelakelander]

Is it there yet?  Moreso than Main Street in Springfield.  The streetscape is just about complete, thus connecting San Marco Square to the Southbank with relative ease.  Also, right around the block, the Kings Avenue Station will break ground this summer.  That development will include two eight story Hilton hotels, a condo midrise and a host of restaurants at street level and connected to the Kings Avenue Skyway station. 

[chipwich]

That rent is pretty high.  The owner will probably have to come off of that price by almost $10/Sf if he wants it leased.

The new Regency/ St. Joe development at Hendricks and Atlantic is leasing at about $35/Sf.  They will get it because it will be new, and in the center of the action, house residents and a Publix.  Most importantly, that development will have PARKING!

The lack of parking makes openning a business (especially a parking intesive restaurant) on Hendricks very undesirable..  Places like BB's are able to thrive because they have parking lots.  This development does not appear to have that luxury.

We can wish the owner luck in their endeavors.  They certainly have their work cut out for them.