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Isabella Sorrentino Isabella Sorrentino

ISABELLA’S GUIDE THROUGH AREA15

Now that everything is officially open in the main building of AREA15, it only seemed right to put together a guide on how to navigate through the experiences, restaurants, and bars.

Ideally, I would allot around 2 hours or more to visit a few things while you are here. Whether that be going to a ticketed attraction (MeowWolf, Dueling Axes, Lost Spirits, 5Iron, or Virtualis), attending a concert or event in one of their state of the art venues (the Portal or A-Lot), or grabbing drinks and a bite to eat (the Beast, Emack & Bolios, Oddwood, or Emporium).

In this blog, I have written a brief synopsis on the attractions throughout the project in hopes to help you arrange your stacking plan for when you go to visit next!

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Brian Sorrentino Brian Sorrentino

The State of Retail Real Estate

So, retail real estate has finally met its match with the outbreak of the COVID-19 pandemic, right? Here are some sobering facts…

  • 30k +/- stores closed in the US in 2020

  • Vacancy rates Q1 2020 – 9%

  • Vacancy rates Q2 2020 – 20% (over 122% increase in 3 months!)

  • Ecommerce total % of retail sales Q1 2020 – 11.8%

  • Ecommerce total % of retail sales Q2 2020 – 16.1% (36% increase in 3 months!)

All of this means that people have finally stopped going to stores and are instead whipping out their smart phones and ordering whatever they want for a quick and easy home delivery. Retail shopping is dead!

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