Triangle Sports Building for Sale
The Journal reports that the Triangle Sports building on Flatbush and 5th Avenue, right across the street from Barclays Center, is for sale. The family-owned store has been in business for nearly 100 years. Its owners cite the economy and “pressure from big-box stores” as reasons for calling it quits, and they’re looking to capitalize…
The Journal reports that the Triangle Sports building on Flatbush and 5th Avenue, right across the street from Barclays Center, is for sale. The family-owned store has been in business for nearly 100 years. Its owners cite the economy and “pressure from big-box stores” as reasons for calling it quits, and they’re looking to capitalize on demand for space near the arena. Brokers and other business owners in the area, meanwhile, are talking up how much demand the arena is supposedly generating for commercial space. Here’s what’s going away: “The Flatbush Avenue location of Triangle Sports was an anomaly among small business in the rapidly gentrifying area. It often kept erratic hours and shoppers had to climb a narrow staircase to reach top floors of the shop. But it also had a devoted following of shoppers who liked the customer service and selection of apparel that included Levi’s and Red Wing boots.” And here’s what’s coming: “The retail landscape has been altered throughout the past decade as national chains such as Target and Applebee’s have moved into the Atlantic Center mall along with upscale boutiques on the side streets off Flatbush Avenue. ‘This trend is going to accelerate in a monumental way as we get closer to the arena opening,’ said Timothy King, managing partner with CPEX Real Estate.”
Bowing to Change [WSJ] GMAP
Photo by PropertyShark
There you go people – the “Mom & Pop”….Not so innocent huh!
This business survived 90 years in this spot (including about half that time when this was a very undesirable spot), now fortunes have changed for the area; boutiques and a SPORTS arena are moving across the street and you’d think that it would be the best time in a long history for an independent specialty store (especially sports) but instead of taking advantage of this enhanced business environment, he is going to cash out – sell the building and go home.
Now personally I do not begrudge the guy 1 bit. Good for him, he survived all this time, bought his building and now can take advantage of the change in one shot. But please remember Triangle sports the next time a small mom and pop bemoans the gentrification of their area and the inevitable rising rents.
“mom and pop” are just like everyone else (including Landlords), when they have something to sell, they sell it at the highest price they can, its not really about sentimentality, tradition or community – ultimately its about business
There you go people – the “Mom & Pop”….Not so innocent huh!
This business survived 90 years in this spot (including about half that time when this was a very undesirable spot), now fortunes have changed for the area; boutiques and a SPORTS arena are moving across the street and you’d think that it would be the best time in a long history for an independent specialty store (especially sports) but instead of taking advantage of this enhanced business environment, he is going to cash out – sell the building and go home.
Now personally I do not begrudge the guy 1 bit. Good for him, he survived all this time, bought his building and now can take advantage of the change in one shot. But please remember Triangle sports the next time a small mom and pop bemoans the gentrification of their area and the inevitable rising rents.
“mom and pop” are just like everyone else (including Landlords), when they have something to sell, they sell it at the highest price they can, its not really about sentimentality, tradition or community – ultimately its about business