Monday, May 17, 2010

Empty Store Fronts Begin To Worry Locals

BELLINGHAM – The effects of the poor economy are prevalent in the Guide Meridian neighborhood. There are numerous store fronts that are vacant in the Bellis Fair Mall, on the edge of the neighborhood, and in various locations throughout the neighborhood.

One place that local resident Pam Smith is worried about is the shopping center located next to Michael’s Arts and Crafts on Meridian Street. She, along with many other residents, wonder, “Who can afford to just let those stores sit?”

Where The Empty Stores Are Sitting
The shopping center, located on the corner of Stuart West and Meridian Street, only has two of its seven available spaces filled. The only two stores currently occupying any space are Sherwin-Williams and Furniture Warehouse. So what about the other empty five stores?

John Volken, the landlord of the space, also owns various other shopping centers and stores throughout Canada and in Richmond. He is also the founder of the John Volken Foundation. This foundation was established to “to provide disadvantaged people with what they need to become self-sufficient, contributing members of society ... to become the best that they can be,” according to the foundation’s website.

Bill Coonar, a director of the John Volken Foundation, feels very optimistic about being located in Bellingham. The complex was created about a year ago and has been slow to lease out ever since. “Three years ago people who have been jumping to move into this location. But now with this economy it has been a lot slower.”

“So far the only business interested in leasing is Tully’s Coffee who is planning to move in soon. We can’t be picky about who moves in now.” With a furniture and paint store being the only stores leasing now, Coonar expects there to potentially be businesses such as drapery or other home accessories to move in next.

Current Tenants Remain Positive
Current tenants, however, feel optimistic about business. Furniture Warehouse employee Anthony Taylor says that he sees a lot of traffic in the current location. The sign located on the corner of the street serves as their exposure as the company does not do any other advertising. Furniture Warehouse has been in the complex about a year and considers business successful so far. Taylor says, “Rent is high here, especially the stores on the end. But it is worth it for the exposure we get being right on Meridian and the amount of traffic.”

Leslie Shrode, store manager of Sherwin-Williams, seems to have similar feelings about the location. “We have a lot of walk-in customers due to our exposure from Meridian Street. I also noticed a lot more traffic once we put up our corner sign,” Shrode said. Sherwin-Williams has been a tenant since the first week of October. There was talk about being located by Woods Coffee, but the owner preferred to serve the north end of town. “It always helps to be able to say that we are close to the big stores like Wal-Mart and Costco. It makes directions really easy.”

Stay tuned for future stores moving into the shopping center.

No comments:

Post a Comment