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Originally Posted by Justin7
1400 and 1500 aren't exactly in great shape either. It was kind of a mess before Covid and has obviously taken a huge hit since. Bank branches and cell phone stores are a plague, but at least there are low end national food chain options! Who actually wants to spend time there?
Still can't get my head around that Verizon/Cheesecake building.
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If I recall correctly, the reason why Walnut has become “Bank Branch Row” over the last few years is that a ban that had prohibited them was recently lifted. I suspect we’ll be getting a few more before all’s said and done.
According to the Shakespeare & Co listing, rent there is $30,000/month. I’m not familiar with commercial real estate but that seems extremely high. Maybe landlords are still confident that if they wait long enough they can snag a high end retailer willing to pay that. I have a feeling more would come if prices dropped. Sugar Factory would have been a decent addition to Walnut but instead they chose the 1200 block of Chestnut, which has been rather dead as of late.