Since the announcement of retailer TJ Maxx coming to the Newport Pavilion last August, the reception for the latest retailers signing leases have been met with a resounding shoulder shrug by the online masses.
There is now signage up for Sport Clips, which will be next to Chipotle facing Carothers Road. FTM broke that story in November. Dr. G's Weight Loss Clinic was also announced in November.
The online consensus seems to have a passionate yearning for an organic or healthy grocery, a steakhouse, a family dining eatery, another clothing outlet or a yogurt shop among many others wishes. Without the big retailer or restaurant headline signing, the most recent signee of the Pavilion may suffer through the same mediocre greeting as Sport Clips and Dr. G's received.
Without further adieu, the latest tenant to sign a lease is Family Allergy and Asthma.
Bigger picture: Newport, Dayton and Fort Thomas all have potential large parcels of land available.
Kmart's closure opens up a possibility for a large retailer, as does the Newport Shopping Center. Earlier this month, we addressed a rumor that Walmart could be interested in either of those two land parcels.
Dayton's Manhattan Harbour has finally started construction this month and along with the high end residential lots and condos, there will be 80,000 square feet of commercial space available there.
Lost in all of this is the potential to attract big retailers to the Fort Thomas Plaza. Last May we talked about the future of the plaza and since then, more retailers have left the fledgeling development. Only two possibilities can explain this.
1) Developer, Myers Y. Cooper, is utilizing the Fort Thomas Plaza as a loss leader for its other commercial properties portfolio.
2) Myers Y. Cooper is waiting for its current tenants' leases to expire to attract one big retailer to the development.
The second scenario is the most likely, however they may not get the best deal they could have with similar spaces available in the Newport Shopping Center and soon-to-be former Kmart location.