Retailers Near Barclays See Mixed Results
Barclays has increased business at nearby restaurants and bars during events nights, but not so much at other shops, The Wall Street Journal found. Concert goers are bigger spenders than sports fans. “How much boils down to whether the main act is a Barbra Streisand concert or a Brooklyn Nets basketball game. The bottom line:…
Barclays has increased business at nearby restaurants and bars during events nights, but not so much at other shops, The Wall Street Journal found. Concert goers are bigger spenders than sports fans. “How much boils down to whether the main act is a Barbra Streisand concert or a Brooklyn Nets basketball game. The bottom line: Streisand fans are much heavier spenders than Nets fans,” said the Journal. But even if a place is packed, that doesn’t necessarily mean higher receipts for the business owner. When there’s an event on at Barclays, “my customers who would normally have come in will look and say, ‘It’s too busy in there, let’s find some other place,'” said Andre Jordan, a co-owner of German beer hall Die Koelner Bierhalle. The area is still changing, but vacancy rates declined this year on the blocks closest to the stadium, said the Journal. The retailer study was done by Forest City Ratner.
Barclays Arena Gives Some Assist to Retailers [WSJ]
Just wondering how many of these business opposed AY
I find it amusing (but not surprising) that brownstoner chose to highlight this article (showing not necessarily great news) about Barclays Center; but only put a link in for the NYT article that talks about the remarkable success of Barclay’s Center in discouraging event goers from driving.
The article only mentions restaurants and bars, no other merchants. Everyone that I know that owns a business in the area has either seen a decline in sales or has stayed flat since the arena opened.
Though I can’t speak to how the huge box stores in the Atlantic Center are faring.
And the fact that Barclays didnt result in massive traffic jams, endless cars circling for parking and horrible impact on quality of life for residents (as widly predicted here) is not a real estate story?? Have we forgotten the term AY-Effect so quickly – the idea that the traffic, crowds and congestion brought by Barclays would kill RE valuations in the area???
Cate, maybe its unintentional but the choice of stories highlighted (esp around AY) is decidedly negative.
“Nobody goes there anymore. It’s too crowded.”
– Yogi Berra