Loading…
19
Stopped by the old A&B building on S Broadway last week and barely recognized the block
I used to grab lunch near there back around 2012 when it was all dusty warehouses and cheap parking, and now the same stretch has a coffee spot charging $6 and glass storefronts where the loading docks were. Made me think about how fast these pockets flip and who actually gets priced out when the leases jump from a few bucks a foot to triple that. Anyone else watching a specific block on Broadway or RiNo and wondering how long the old tenants can hold on?
1 comments
Log in to join the discussion
Log In1 Comment
rowan_roberts4913d ago
$6 coffee is the canary. Once the coffee shops move in, the old tenants are already gone. They just do not know it yet.
Broadway and RiNo have been done for a while. The people who ran those dusty warehouses could not keep up with the new lease rates. A few bucks a foot turns into fifteen and that math only works one way.
The ones who hang on longest are usually the ones who own their building outright. Everybody renting gets squeezed out within a year or two. It is not really a mystery how this goes. We have watched it happen in every city that gets "discovered.
6