Is TIC feeling any pain?

NEW -> Contingent Buyer Assistance Program
[quote author="bkshopr" date=1214879718]I love French Laundry and Auberge in Napa. I had to arrange my trip to Napa based on the FL reservation.</blockquote>


have you been to napa rose at the grand californian? disney paid big bucks to lure andrew sutton from auberge. he was the exec chef at auberge for 7 yrs prior. request a table at the counter along the kitchen and you can watch chef sutton in action running the show. interacting with him and his sous chefs makes for one of the most enlightening dining experiences. it's by far my favorite place in all of OC (norms running a close second...)
 
Thomas Keller is supposedly in the beginning stages of opening a Bouchon type of restaurant in Southern California. Something tells me that the Spectrum will not be his location choice.
 
[quote author="tenmagnet" date=1214878160][quote author="24inIrvine" date=1214877466][quote author="acpme" date=1214876642]

i walk right by maki maki all the time... and keep on walking...</blockquote>


same here. Usually when I'm going to the Spectrum, I/we already know where I/we are eating before we go. I figure thats what most people (maybe they don't?) do so I do not see why foot traffic would matter.</blockquote>


That all depends, I never been able to walk into PF Changs and get seated right away unless we sit at the bar.

Otherwise, I?ve had to make reservations for dinner at least 2 hours in advance.</blockquote>


Javiars was busy Sunday. People standing outside. But Changs was maybe 70% at 5:00 when we were seated in the dinning room. Only 3 People at the Bar. 50% filled outside.



Last week I went to the Fish Market as well. GF`s B-Day coming so went to Nordy for the giftcard. It was dead on a Tuesday at 6:00 PM. Servers just standing around talking when I stopped for a wine at the bar.



I think the idea of an outdoor mall is great in the evenings. But during the Summer

afternoon the Spectrum has grown larger than is practical. Parking is a serious issue.

Paying $ 8.00 for the Valet is going to thin out all but a few of us.
 
[quote author="bltserv" date=1214876223][quote author="EvaLSeraphim" date=1214873821]With respect to Maki Maki, TIC tried to kick them pretty hard. Unfortunately for TIC, <a href="http://www.courtinfo.ca.gov/opinions/nonpub/G038039.DOC">the courts kicked them instead</a>. (Although legal opinions can be boring, this one is a pretty good read.)</blockquote>


This explains why TIC would install a second Japanese Restaurant in the Spectrum. So nice to have a good landlord working with its long term tenants interests in mind. NOT. Can you imagine fighting a lawsuit with TIC as a small business owner ? They can just bury you in legal fees whenever they want.</blockquote>


Yes and no!

-bix
 
[quote author="bkshopr" date=1214881310][quote author="tenmagnet" date=1214880735][quote author="bkshopr" date=1214879835][quote author="CK" date=1214879737][quote author="Astute Observer" date=1214879223][quote author="CK" date=1214877608]As far as animated movies go for the Kindergarten crowd, Kung Fu Panda was a lot more fun. The message of WallE was way over her head. But I recommended it to all the adults I know.</blockquote>


You just insulted my intelligence since I like the KFP, and did not understand the WallE... there is a message there?</blockquote>


lol --- truth be told, I liked Kung Fu Panda a lot better, too. We've seen it 3 times! Once was enough for WallE.</blockquote>


PANDA has seen it 20 times while dreaming of Irvine in the theater.</blockquote>


What more is there to say?Chicks dig the PANDA!

If Panda-mania continues, I may have to drop my Derek Zoolander identity.</blockquote>


I guess what is really appealing to the ladies (not chicks) about PANDA is his sincerity and down to earth personality.</blockquote>


ROFLMAO on that whole exchange! IHBers love the PANDA.
 
[quote author="CK" date=1214879737][quote author="Astute Observer" date=1214879223][quote author="CK" date=1214877608]As far as animated movies go for the Kindergarten crowd, Kung Fu Panda was a lot more fun. The message of WallE was way over her head. But I recommended it to all the adults I know.</blockquote>


You just insulted my intelligence since I like the KFP, and did not understand the WallE... there is a message there?</blockquote>


lol --- truth be told, I liked Kung Fu Panda a lot better, too. We've seen it 3 times! Once was enough for WallE.</blockquote>


Honestly I loved Wall-E. again, WAY over the head of most children.... KFP was much better as a,"believe in yourself" theme.



I liked both!

good luck

-bix
 
[quote author="tenmagnet" date=1214878160][quote author="24inIrvine" date=1214877466][quote author="acpme" date=1214876642]

i walk right by maki maki all the time... and keep on walking...</blockquote>


same here. Usually when I'm going to the Spectrum, I/we already know where I/we are eating before we go. I figure thats what most people (maybe they don't?) do so I do not see why foot traffic would matter.</blockquote>


That all depends, I never been able to walk into PF Changs and get seated right away unless we sit at the bar.

Otherwise, I?ve had to make reservations for dinner at least 2 hours in advance.</blockquote>


PF Changs takes reservations? It has been awhile since I have been there. But I thought they were a no reservations place like Cheesecake Factory. Food there doesn't mix well with my workout/fitness goals. But I do love their food! Parking there just makes me avoid the Spectrum all together. District was a much better place to avoid the crowds and sold out movies, but it seems to get more and more crowded each time I go.
 
I miss Typhoon. Err, Ling & Luis. They used to have pitchers(!!!) of Mai Tais(although apparently not allowed by their liquer license). Does Maki Maki still have they late happy hour on monday nights?
 
[quote author="bltserv" date=1214883168][quote author="tenmagnet" date=1214878160][quote author="24inIrvine" date=1214877466][quote author="acpme" date=1214876642]

i walk right by maki maki all the time... and keep on walking...</blockquote>


same here. Usually when I'm going to the Spectrum, I/we already know where I/we are eating before we go. I figure thats what most people (maybe they don't?) do so I do not see why foot traffic would matter.</blockquote>


That all depends, I never been able to walk into PF Changs and get seated right away unless we sit at the bar.

Otherwise, I?ve had to make reservations for dinner at least 2 hours in advance.</blockquote>


Javiars was busy Sunday. People standing outside. But Changs was maybe 70% at 5:00 when we were seated in the dinning room. Only 3 People at the Bar. 50% filled outside.



Last week I went to the Fish Market as well. GF`s B-Day coming so went to Nordy for the giftcard. It was dead on a Tuesday at 6:00 PM. Servers just standing around talking when I stopped for a wine at the bar.



I think the idea of an outdoor mall is great in the evenings. But during the Summer

afternoon the Spectrum has grown larger than is practical. Parking is a serious issue.

Paying $ 8.00 for the Valet is going to thin out all but a few of us.</blockquote>


Great observations!

The men?s section at Nordies is hurtin? big-time.

Plenty of selection!

There was one other guy besides me browsing in the jeans section this past Saturday.

All of the action was in the women's areas.

The shoe department and MAC counter were definitely rocking.



I?ve only been to PF Changs on Saturday nites and have always needed to make a reservation, even the bar area is jammed
 
[quote author="EvaLSeraphim" date=1214878479]

I've never eaten there, so I don't know if it's any good or not. But I will say that the construction impediments resonated with me.</blockquote>


it was a good argument and obviously they won their case although anyone that walks through spectrum would probably say their argument is a stretch. maki maki's location is right in the heart of the lionshead fountain courtyard often seen in mktg shots of the center. it takes up about 3/4ths of one side. i just have a hard time believing foot traffic was a problem because spectrum was packed 7 days a wk, especially in that courtyard, and esp during the period in question, 2001-2006. they had a hard time selling sushi to HELOC-rich californians at the busiest entertainment center in town? not your landlords fault, i think!



but hey, they fought "city hall" and won. good for them in that regard.
 
Last time I went to Nordstroms (early January 08), while waiting to pick up a suit I got tailored and a couple of the guys working in the mens section made some small talk with me. They were saying how slow it was in the holiday season. They also tried to sell me 10 suits on the spot, haha luckily I really only need one. But it definetly felt like Nordstrom's was feeling it back then near the holidays. I can't imagine it being any better now.
 
Haven't been around the malls/shopping centers in OC lately, but I can tell you that in LA they don't seem to have slowed down much. Visited the Nordstrom's at Westside Pavillion twice in June on Saturdays (early afternoon both times), and it was pretty busy.
 
as counterintuitive as it sounds, malls are positioned well for the upcoming recession. mall tenants sign very long leases, 10 yrs for smaller tenants and 20 yrs for major anchors. so landlords have their tenants locked up for the foreseeable future. most malls these days are designed for entertainment, not just shopping. people take their kids for a stroll at the mall instead of the park. so i think we'll see the crowds on the wkends no matter the economy. the question will be who's buying. it's a great to be a retail landlord right now but the tenants are going to bear the brunt of lower consumer spending.
 
[quote author="awgee" date=1214889425]Love Napa Rose and French Laundry</blockquote>


OK Off Topic. But time for a French Laundry fix.



Who would have thought that Dinner in Yountville could be so good. I was just thinking about

planning a return trip. I guess I could get a reservation to FL for 2009 and start planning

this summer for spring next year. Still have not stayed at Auberge du Soleil yet. Lets melt some plastic.
 
[quote author="acpme" date=1214885750]

it was a good argument and obviously they won their case although anyone that walks through spectrum would probably say their argument is a stretch. maki maki's location is right in the heart of the lionshead fountain courtyard often seen in mktg shots of the center. it takes up about 3/4ths of one side. i just have a hard time believing foot traffic was a problem because spectrum was packed 7 days a wk, especially in that courtyard, and esp during the period in question, 2001-2006. they had a hard time selling sushi to HELOC-rich californians at the busiest entertainment center in town? not your landlords fault, i think!



but hey, they fought "city hall" and won. good for them in that regard.</blockquote>


I agree, the foot traffic argument there doesn't hold up.

They always seem to have either a band or singer playing on the platform at that courtyard.

There was a female folk singer playing an acoustic guitar there this past Sat.

The Target area is an absolute ghost town, other than the kids water thing, H&M;and Bebe Sport.
 
[quote author="acpme" date=1214889022]as counterintuitive as it sounds, malls are positioned well for the upcoming recession. mall tenants sign very long leases, 10 yrs for smaller tenants and 20 yrs for major anchors. so landlords have their tenants locked up for the foreseeable future. most malls these days are designed for entertainment, not just shopping. people take their kids for a stroll at the mall instead of the park. so i think we'll see the crowds on the wkends no matter the economy. the question will be who's buying. it's a great to be a retail landlord right now but the tenants are going to bear the brunt of lower consumer spending.</blockquote>


I think you're right in terms of larger, national tenants. The smaller tenants, though, especially the non-chains and one-off stores, will have a hard time paying rent if sales drop precipitously. Also, mall owners who depend on percentage rents, in which the tenant pays as rent a certain percentage of their sales (over a breakpoint), will see a drop in income that goes straight to the bottom line.



I would say that <u>all</u> of the retail centers we're talking about in this post have tenants who pay percentage rent.
 
i agree about the smaller tenants. larger tenants tend to be more immune to downturns on a national level but smaller retailers get crushed.



LA/OC is such a shoppers mecca but malls and major lifestyle centers are really a regional business, with only a handful in each major city. locally we seem to have enough targets and nordstroms to serve each individual village of irvine. most places in america you might find one in the city and maybe another 20 miles away in one of the burbs. there's been so much consolidation of the major dept stores and their landlords so both are being projected to fare well (relatively) in a recessionary environment since they're not over-saturated. most of the malls in america are owned and operated by a handful of public reits and there's very little development in malls on a national level. most of these companies have been pursuing growth overseas in recent yrs.



locally however there's been way too much retail development. a lot of the big box retailers are going to regret over-extending themselves in oc. the small chains and mom-n-pops are going to get absolutely crushed. i wish there was some way to short frogurt!
 
[quote author="ABC123" date=1214876621]On Saturday I had lunch at the fish place at the fish restaurant in the Spectrum. That place was dead.



Another odd thing I noticed this weekend. Most of the neighbors stated home, cars parked everywhere, kids were out playing on the street, parents talking with each other, and several washing their own cars. I felt like I was living in some other era or some Midwestern town.</blockquote>


People are staying home more...gas prices at 5 bucks a gallon can do that. :)
 
[quote author="acpme" date=1214955839]locally however there's been way too much retail development. a lot of the big box retailers are going to regret over-extending themselves in oc. the small chains and mom-n-pops are going to get absolutely crushed. i wish there was some way to short frogurt!</blockquote>


I pity whomever bought the Mello Roos bonds that financed The District. Nearly all of the taxes are paid by the smaller establishments because the bigger (and smarter) retailers (e.g., Costco) don't pay the tax.
 
You must log in or register to reply here.
Back
Top