Is TIC feeling any pain?

NEW -> Contingent Buyer Assistance Program
[quote author="acpme" date=1214955839]i wish there was some way to short frogurt!</blockquote>


I wouldn't recommend this. I was at the Spectrum on Sunday night and it was pretty dead, but the line for Pinkberry was out the door. That place place seems to be minting money.
 
[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>


Speaking of Panda, where has he been? Has he found a new community to dream of or is he traveling? I miss him.
 
3 restaurants at Spectrum close:



<a href="http://fastfood.freedomblogging.com/2008/07/03/3-restaurants-at-irvine-spectrum-close/">http://fastfood.freedomblogging.com/2008/07/03/3-restaurants-at-irvine-spectrum-close/</a>
 
[quote author="CalGal" date=1215149959]Fish Market closed :down:</blockquote>
Unless the Spectrum or other TIC retail properties want to see more vacancies, they should consider giving some rent concessions to the smaller retail operators as they will be the first ones to go out of business.
 
[quote author="optimusubprime" date=1215148824]3 restaurants at Spectrum close:



<a href="http://fastfood.freedomblogging.com/2008/07/03/3-restaurants-at-irvine-spectrum-close/">http://fastfood.freedomblogging.com/2008/07/03/3-restaurants-at-irvine-spectrum-close/</a></blockquote>


Great comments following that Reg story. Love for The Irvine Co. extends well beyond the borders of IHB.
 
That Blog is good reading in that Register article.



I can see TIC rasing the rent on Fox Sports grill $ 50K a Month. Ouch.

Would have loved to sit in on that negotiation when they tried

to bully Fox into the increase.

And I bet they will just let all these closed restaurants sit empty

until the economy swings around again. That may take several years too.



Speaking of Javiers. I have noticed how they try to hustle you out

once you have eaten. Had a similar experience at Crystal Cove too.

Noticed a Manager came over to us several times and asked

"Do you need anything else" after we paid the bill and were just

hanging and finishing our pitcher of Margaritas slowly. You could tell

he was trying to hustle us. They had 3 couples come and go at the table next to

us in the same time period.



Got to pump the crowd as hard as they can to pay those insane rents.
 
[quote author="bltserv" date=1214870618]Rather than start a new thread lets revive this old one.



Had lunch yesterday at the Spectrum. Looks like the new shops in front of the Edwards are

open. The Tommy Bahama. PinkBerry and the new Japanese place.



But in talking to a few people in the shops and doing a little research.

Looks like the Spectrum may be in the same world as Las Vegas. Its finally

hitting a wall because of the recession or whatever you call todays business slowdown.

Many of the working folk in the stores mentioned business was slowing significantly.



Fox Sports Grill. Closing soon ? Was supposed to move to the Triangle in Anaheim.

Thats now on hold. Late 2009 ?



The new Wine spot. Rustic Vine. The signs were up and it was on the TIC website

last I looked. No more. Looks like the Rustic Vine has pulled out of the agreement.

Not sure if the developer MOR Project has the "financial deep pockets" to develop

so many restaurants in OC so quickly. They have 3 in the works.



The area that was the Saleen Dealer is still empty. As well as the Sharper Image

unit. Both have been vacant for all of 2008 now.



TIC has made the Spectrum some of the most expensive Commercial RE in So Cal.

But it may be forced to let some of the space sit empty or lower the rents.

If it wants to maintain the high occupancy its enjoyed in the past.</blockquote>


I noticed the Fox Sports Grill is moving to Anaheim too, not sure why, since the economy and traffic should be greater in Irvine. Maybe they ought to have stores at both locations.
 
Fox Sports Grill was just a crappy place in general. I've eaten there two or three times, and every time the food was rather bad. This is coming from a guy who routinely eats del taco and jack in the box for meals.



A few times I'd head over there for a beer or two before or after seeing a movie since I didn't want to walk all the way over to the yardhouse. The place would be dead on a friday or saturday night. Not only that, they'd charge $6.50 for one of their 4 types of beer. I'm pretty sure the YardHouse is $4.50 and you can get any beer ever created.



Honestly, the place was just depressing. The only thing good I can say about it was that the service was never awful. Maybe they'll bring back gameworks or sega city? :-)
 
[quote author="25w100k+" date=1215397116]Fox Sports Grill was just a crappy place in general. I've eaten there two or three times, and every time the food was rather bad. This is coming from a guy who routinely eats del taco and jack in the box for meals.



A few times I'd head over there for a beer or two before or after seeing a movie since I didn't want to walk all the way over to the yardhouse. The place would be dead on a friday or saturday night. Not only that, they'd charge $6.50 for one of their 4 types of beer. I'm pretty sure the YardHouse is $4.50 and you can get any beer ever created.



Honestly, the place was just depressing. The only thing good I can say about it was that the service was never awful. Maybe they'll bring back gameworks or sega city? :-)</blockquote>
I'd love if they brought in gameworks there. Fox Sports Grill was OK at best.
 
<em>related to this discussion...

</em>

Vacancies Rise at Retail Centers

Stores Being Closed,

Expansions Curbed;

Strength in Rentals

By KRIS HUDSON and NICK TIMIRAOS

July 7, 2008; Page A3



The faltering economy took a heavy toll on malls and shopping centers in the second quarter, but it didn't hurt the rental-apartment market as much as expected.



Vacancies at retail properties rose to multiyear highs in the second quarter as retailers closed stores and curtailed expansion plans. Meanwhile, apartment-complex vacancies remained unchanged and rents rose by a stronger-than-expected 1.1% in the quarter, according to real-estate research firm Reis Inc. in New York.



The higher retail vacancy rate stems from the slowdown in consumer spending and the weak housing market, among other economic pressures. Vacancies at enclosed malls in 76 major U.S. markets rose from 5.9% in the first quarter to 6.3% in the second quarter, the highest level since early 2002, according to Reis.



Faring worse were open-air retail venues such as big-box centers and grocery-anchored strip centers. Vacancy in those formats climbed from 7.7% to 8.2% in the second quarter, the highest tally since 1995. Open-air centers tend to lose more tenants in a bad economy because they cater more to local, mom-and-pop shops. Malls, on the other hand, house more national retailers that tend to be more stable financially.



Regardless, all retail formats have lost at least some momentum. The International Council of Shopping Centers predicts 6,500 stores will close this year, the most since 2001. A slew of national retailers including Kohl's Corp., Chico's FAS Inc. and Starbucks Corp. have reined in their growth plans. Particularly draining to the confidence of retail landlords last quarter were the financial struggles of rapidly growing discount retailer Steve & Barry's LLC, which had become a go-to candidate to fill vacant anchor stores.



In the apartment market, the "shadow market" of unsold homes offered for rent continues to keep renters out of apartments. Otherwise it is a strong market for landlords. They continue to benefit from the housing slowdown that has created more renters and led existing renters to defer homeownership given the tightened mortgage market.
 
For what its worth, when Crazy Horse left the Spectrum there was also alot of speculation that TIC was not happy with Fox Sports and wanted them out as well. So from that point on it was only a matter of time; and if they wanted Fox gone, why not try to slap them with some ridiculous rent increase to force the issue. As many others have pointed out in this thread, Fox Sports didn't seem to be working anyway as it has always been kind of dead in there (terrible bar service didn't help). maybe what that space needs, is a giant...Pinkberry.
 
[quote author="babypacman" date=1215479000]As many others have pointed out in this thread, Fox Sports didn't seem to be working anyway as it has always been kind of dead in there (terrible bar service didn't help). maybe what that space needs, is a giant...Pinkberry.</blockquote>


Fox Sports Grill was terrible. The only time anyone was ever in there was for big games. Funny you should say Pinkberry --- because I was actually thinking that an appropriate new occupant of the Fox space might be a giant Red Mango, to crush that dinky Pinkberry across the aisle.
 
Yes. Sounds like Fox got forced out!

And I have a feeling TIC negotiated a new deal/client even before they sat down with Fox on the new term?



Any quess on who the new client(s) is/are???
 
[quote author="rickhunter" date=1215481743]Yes. Sounds like Fox got forced out!

And I have a feeling TIC negotiated a new deal/client even before they sat down with Fox on the new term?



Any quess on who the new client(s) is/are???</blockquote>
I'd guess that it'll be some kind of bar like Yardhouse so people can drink their problems away. haha
 
[quote author="usctrojanman29" date=1215513370][quote author="rickhunter" date=1215481743]Yes. Sounds like Fox got forced out!

And I have a feeling TIC negotiated a new deal/client even before they sat down with Fox on the new term?



Any quess on who the new client(s) is/are???</blockquote>
I'd guess that it'll be some kind of bar like Yardhouse so people can drink their problems away. haha</blockquote>


you so funny! good example of that quick trojan wit that clearly justifies your $125K education. Here's to you trojanman
 
[quote author="jcaraway" date=1215513685][quote author="usctrojanman29" date=1215513370][quote author="rickhunter" date=1215481743]Yes. Sounds like Fox got forced out!

And I have a feeling TIC negotiated a new deal/client even before they sat down with Fox on the new term?



Any quess on who the new client(s) is/are???</blockquote>
I'd guess that it'll be some kind of bar like Yardhouse so people can drink their problems away. haha</blockquote>


you so funny! good example of that quick trojan wit that clearly justifies your $125K education. Here's to you trojanman</blockquote>
Didn't spend that much since I got my MBA from there. Undergrad degree was from UCLA at $4/year. =op
 
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