Real Estate Journal — Pennsylvania — August 10 - 23, 2018 — 11C
www.marejournal.com
M id A tlantic
P ennsylvania
By Jack W. Intrator CPM, RAM, ARM, RealtyMark CityScape LLC President Theodore Roosevelt
O
n the day before the 4th of July, Marc Candela, CEO for Ladders, sent this to me, offering a word to the wise: “It is not the critic who counts, not the man who points out how the strong man stum- bles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, be- cause there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself for a worthy cause; who, at the best, knows in the end the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat.” That was, Theodore Roosevelt speaking at the Sorbonne in 1910. (It sounds like he’s read the comments sec- tion on the internet before.) For those that know me, you know that Teddy Roosevelt is one of my favorite presidents. If you get a chance, watch the movie “The Wind and The Lion,” starring Sean Connery and Candice Bergen. It takes Place in the early 1900’s and shows the will of our leaders and the American people, some say that the 20th Century was the American Century. When we see all these new developments and trimming down of known Commercial real estate and shops closing and what that means to the family, they have spent themselves again and again. If for noth- ing else, the dinosaurs of our industry have been cannibal- izing the market in such a way with the availability to Internet outlets and shopping via Ama- zon Prime, then those huge big boxes just can’t compete. It happened in 2005 and again in 2010, and now it’s happen- ing once again. The death knell of the Big Box stores is here and here to stay. The result of dark and dreary shopping centers, and malls with dark spaces. Their death knells, we have heard and seen, are from technology. Who heard of Ali Express 10 or 15 years ago. The owners of these shopping vendors and malls have not, as yet, caught up as an industry. The first time I noticed this was at Home Depot several
years ago. There was this couple in the plumbing department, they were looking for these Pfis- ter faucets and sink sets. What they did and they showed me that they were picking out and touching the faucets or sinks, they compared using an app Ali Express. To give the reader an idea, let’s say the beautiful faucet was $275.00 and the sink they chose was another $300.00 They showed that same faucet on Ali Express for less than half the money, no tax making it impossible for the big box stores to compete. I am guilty of the same. My wife wanted
specific knife sets and there is a culinary store in the King of Prussia Mall. I went there to see the knife at $160.00 and online it was just $90.00 – that’s a big difference. Several Years ago, I was tasked with finding a tenant for a large bar and restaurant in Easton, PA. The owner of the building, we will call him Harry, was an engineer who came to America fromAustralia with a fresh concept, Lawyers on demand, not the name, just an example. Harry introduced me to his engineering abilities and his cost savings approach
using Ali Baba and Ali Express. We were interested in fitting out two new spaces for restaurant use and the equipment, elevated grease trap, exhaust and hood, and Ansul system compressors, etc. What he told me was that he would need to spend $250K from the restaurant supply stores as well as another $60K for each new restaurant. He was offering tremendous concessions and a huge TI allowance. One catch: give him the specs, let’s sepa- rate the equipment from labor to install and he would handle delivery of the equipment, both back of house and front of house,
fromwalk-in boxes to tables and chairs, tile etc. I wanted to know more. Here is what I learned that day: He told me every part that was referenced to us was a finished unit. Being an engineer, he showed me how to look up the schematics, think compressors, blowers and pieces that fit to- gether and for the unit. continued at www.marejournal.com Jack W. Intrator CPM, RAM, ARM is a retail and restaurant leasing specialist with RealtyMark CityScape LLC.
LEASED Valley Forge Towers 3000 Valley Forge Cir King Of Prussia, PA 19406
Valley Forge Towers
FOR LEASE The Pavilion 261 Old York Rd Jenkintown, PA 19046
The Pavillion
FOR LEASE Regency Towers 1001-1003 Easton Rd Willow Grove, PA 19090
Jack Intrator:Retail Leasing Specialist and RealtyMark | retailman1105j@gmail.com | 610-805-3849
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