The Downtown News looks at the Medallion, that new rental building opening up next month. What's different about this project is its approach to retail space. There are only 96 rental units, but 200 commercial spaces. Many of the retail spaces are smaller, cheap (in terms of rents) and geared towards Toy District merchants who are already renting on Los Angeles St. But just as Los Angeles St and Main St are vastly different in terms of feel--one is more commercial, the other is more hip---the Main St side of the building will be geared towards retail spaces like restaurants and coffee shops. How this will all work out isn't clear, according to those quoted in the News piece, but some commercial brokers think this corner is perfect for a grocery store. Via the DN: "Myron Sokolsky, vice president of retail for Grubb and Ellis, said that with the slow economy, not many new merchants are looking for space. But he said that projects like the Medallion could benefit from an anchor tenant, such as a grocery store, that can draw daily customers.
“They’re probably better off having a grocery facility, a reason for people to go to there and have a reason to hang around,” he said." The developers say they are in talks for a grocery store, but don't offer any more detais.
· Medallion’s Double Gamble [Downtown News]