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SBD/February 24, 2012/Facilities
Published February 24, 2012
BUSINESS IS BOOMING: The WALL STREET JOURNAL’s Kavita Mokha notes Barclays Center, “part of a larger planned business and residential development, has already touched off a significant spurt in commercial and residential real-estate activity spreading out from the junction of Atlantic and Flatbush avenues.” North Flatbush Business Improvement District Exec Dir Sharon Davidson said, "Five years ago, it was difficult to get anyone to rent in this district. Now with the arena, the rents have doubled and I get calls from people who want to move to this area." Paul Zumoff, an agent with Corcoran Group and an area resident, said, “On every corridor and street that leads to the arena, there is a rush for retail space.” Commercial broker TerraCRG VP/Retail Services said that commercial rents “generally range between $75 and $150 a square foot depending on proximity to the complex and even more for spaces facing the arena” (WALL STREET JOURNAL, 2/24).
PUSHING AND SHOVING: In Chicago, David Roeder reports Chicago Sports & Novelty, which "for decades has sold souvenirs at Clark and Addison across from Wrigley Field," is charging that it is being "unlawfully pushed out of its coveted location with opening day just five weeks away." The lawsuit shows that “those doing the pushing" include McDonald’s and Cubs owners the Ricketts. The team “plans to sell its own merchandise from the same property, part of a parking lot for a McDonald’s restaurant.” Chicago Sports & Novelty Inc. said that it has “sold its wares from the corner since 1970” and that it has “a valid lease to use the property through at least 2015 when the Cubs play at home.” The suit said that the lease “was canceled after McDonald’s Corp. sold the property to the Rickettses for $20 million last November” (CHICAGO SUN-TIMES, 2/24).
ALL IN FAVOR: In Sacramento, Dale Kasler wrote Mayor Kevin Johnson's arena task force yesterday released a poll “showing broad public support for the parking privatization plan that would form the linchpin of the $387 million project.” The weekend poll of 500 city residents by SurveyUSA “shows that 64 percent support the plan while 22 percent are opposed” (SACBEE.com, 2/23).