desertgal
Posts:125
 | | 10/18/2007 10:40 PM |
 Alert | I just learned this afternoon that Cexi is closing its doors. Evidently their business is not enough to meet their very high rent...they have a FIVE year lease, and they're only at the end of their first year.
The owners are such nice people. I hate to see this happen to them. | |
Proud conservatives happily living on our acreage in the beautiful mountains of Hidden Valley with no HOA. | |
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Colgate
Posts:581
| | 10/18/2007 11:17 PM |
Alert | | I hate to see another business gone too! Do you know if they are having closeout sales? | |
Live every day as if it were your last and smile! | |
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cmfitness
Posts:121
| | 10/18/2007 11:48 PM |
Alert | | Sad. The rents are so high that they dont give the ambitious people a chance. | | | |
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Colgate
Posts:581
| | 10/19/2007 12:22 AM |
Alert | | I know, and I really hate that for them. So many invest everything they have in their dream and it is gone in such a short time. | |
Live every day as if it were your last and smile! | |
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luceee
Posts:172
| | 10/19/2007 5:59 AM |
Alert | What does Barkley's think this is Snottsdale?
This is a new city and if anything, they should be giving these businesses a good deal since these are small businesses that are trying to keep folks in town to shop and eat.
Looks like there are going to be lots of empty stores on 347 N. | |
I want my tombstone to read "I told you I was sick". | |
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bitterbeard
Posts:207
| | 10/19/2007 6:04 AM |
Alert | Was about to ask who the landlord was but Luceee answered that.
Sadly I doubt the price per sq foot for space will drop until more store front locations are available. Sad to see another business close, that is not what this town needs. | | | |
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Tempting Fait1
Posts:728
| | 10/19/2007 6:33 AM |
Alert | | What I find amazing with all these stores closing and they are build MORE retail space in the same center!!!! | |
The red head is BACK!! (and still mouthy)
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twinmom
Posts:58
| | 10/19/2007 7:14 AM |
Alert | Yep, empty houses and empty stores. This town will be a blast to live in  | | | |
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Horses R Cool
Posts:144
| | 10/19/2007 7:26 AM |
Alert | | All the early new home builds and the investors that caused the false rise in property values are to blame. Homes, as you well know, are worth less than they were 2 years ago. Those shopping centers were built and businesses started when Maricopa boomed! So the rents were falsely inflated, as were the property values. Unfortunately, the small business owners are locked into leases with rents that are inflated as well. The city of Maricopa grew too fast, IMO. Now things have slowed down and unfortunately everything has to settle in. Too bad the small businesses are going to suffer. But, also remember all of you asking for a Target/Walmart or other major store. These businesses will also affect the small businessman. | | | |
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Fritzydoodle
Posts:926
| | 10/19/2007 7:39 AM |
Alert | I'm not bashing Cexi, but making an observation...
Have you ever shopped at Cexi? I'm a 44 year old, size 12-14 business-WOMAN - not a size 2 teen. The clothing stocked was A: not in my size and B: not in my style.
While it is a store designed for a young woman - is that the most needed demographic for a female clothing store in Maricopa in 2006-7? Downtown/Uptown Maricopa is not Mill Avenue in Tempe. Totally different demographics. The key to any business success is to provide a product and/or service your clients want or need. If people repeatedly walk into your store and then walk out empty handed - you don't have what they want. Find your niche and you will survive in most environments. Smaller stores are not Dillards or even Walmart/Target. You can't be something for everyone, so be the best you can be to a select few.
I agree the rents are high, but they are market driven. There _was_ a demand for retail space with limited space available. That drives the per square foot rate higher, much higher than it should have been. As more retain space is built and sits vacant - the retail rents will, like the home prices, correct to a more normal pricing. | |
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desertgal
Posts:125
| | 10/19/2007 8:46 AM |
Alert | | They are having a closeout sale. I found a number of clothes in X-Large and larger while looking through their racks yesterday. As closely as I can figure they are paying about $30 per square foot! I was told some time ago that the commercial rental in Maricopa is higher than at 24th Street and Camelback. That doesn't make any sense to me. | |
Proud conservatives happily living on our acreage in the beautiful mountains of Hidden Valley with no HOA. | |
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Sinbad
Posts:3019
| | 10/19/2007 9:37 AM |
Alert | It is sad to see.
Fritzy is right though. I went in there with the wife and daughter. Came out with stuff for the daughter. Thrity bucks a sq foot is high as heck. There's no way a business can make it at that rate. The Demand for these types of products isn't that high to allow the store to make that much money to cover rent and bills!.
IT's a shame.
You call them the Barclay group... I wonder if anyone in office is connected to them. | |
Just doing it one day at a time. Change is good and it should be looked upon as an improvment! not a problem.
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San Diego Super Chargers! GO!!!
Joined old forum March 2006
Post count: 3068 + these | |
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sarahc
Posts:631
| | 10/19/2007 9:37 AM |
Alert | Am I the only one that had never heard of Cexi?
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"JustJodi"
Posts:614
| | 10/19/2007 9:39 AM |
Alert | | I guess not, if they are closing! | |
Senior Member
Posts: 3899
Joined: Jan 2006 | |
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Janice
Posts:108
| | 10/19/2007 10:18 AM |
Alert | | I'm sad they are closing. I bought a cute pair of shoes there and have been wanting to go back for ages but they have horrible hours and always seem to be closed. | |
Janice, not Janet. | |
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Lees2
Posts:586
| | 10/19/2007 10:20 AM |
Alert | | While I agree a lot of stuff was for younger people, I have bought numerous tops there. I am 40 and not small. I bought stuff there I wear to work. The girl who works there is ALWAYS helpful. This is so sad. | |
Previous Post Count: 2731
Member Since: April 22, 2005 at 3:24 p.m. | |
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Sinbad
Posts:3019
| | 10/19/2007 10:21 AM |
Alert | | That's the story of most business here in the Copa..No one knows who they are! | |
Just doing it one day at a time. Change is good and it should be looked upon as an improvment! not a problem.
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San Diego Super Chargers! GO!!!
Joined old forum March 2006
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desertgal
Posts:125
| | 10/19/2007 10:25 AM |
Alert | There is another problem in this town...no signage. There is a very nice commercial center on Honeycutt, but no one would ever be able to find it if they were not completely familiar with John Wayne Parkway and its cross streets. There should definitely be a sign at the corner of Honeycutt and John Wayne Parkway. Most good shopping centers I have seen have large signs out front that let you know the names of the stores in that center. The shopping center on Honeycutt does not have one, and as far as I know, the Fry's plaza does not have one. If they do, it must be ineffective as I have not noticed it.
Personally, I think this city has its eyes on easy money and has not been anxious to support local businesses up to this point. | |
Proud conservatives happily living on our acreage in the beautiful mountains of Hidden Valley with no HOA. | |
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yenni2
Posts:243
| | 10/19/2007 10:53 AM |
Alert | I have a business in the Honeycutt Plaza and we REALLY need some better signage and a light at 347/Honecutt. All the businesses in our center advertise heavily but most people still don't know where we are. It's very much an uphill battle. Our rent is not too bad here but we get less traffic due to our location. Catch 22.
I am very sorry to hear that another business is closing. I shopped at Cexi Fashions a couple of times and found some really cute clothes there. | | | |
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DesertDweller
Posts:2544
| | 10/19/2007 11:47 AM |
Alert | C'mon Fritzy, I found several cute things at Cexi
When a business fails, the very first thing to look at in order to find out why is the business plan. Rents, products, clients, operating expenses, are all considered there. Too many businesses start off with a really optimistic business plan because they're trying to convince the bank, investors, etc., to participate.
Be careful what you wish for as far as signage. It doesn't take much to have really obnoxious signs everywhere. It does seem like the sign ordinance here is somewhat restrictive. I don't know where many of the businesses I hear about are and have to go looking for them. | |
Stupid should hurt!
Desert Dweller - Senior Member - Posts: 2982 - Joined: Feb 2006 | |
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