Sunday, October 21, 2007
As readers of UtWT comments know, quirky grocer Trader Joe's is coming to the Metropolitan development in Midtown. What does that mean for Grubb's Elizabeth Avenue project? Does the nearby presence of Target, Home Depot and Trader Joe's mean lesser tenants for us? Metropolitan has a jump on Elizabeth Avenue, and it appears Grubb is having trouble luring big names. But does a dominant Metropolitan hurt Elizabeth Avenue's chances? I don't necessarily think so, although it does seem to imply that Grubb needs to get busy. There's still lots of buying power around here and the area is under-served from a retail standpoint. Let's see what happens.