Reply #6: Starbucks on W 38th St

[Aimah]

Some of the banks in the area were working to get the Walmart there. A study was done in the surrounding area and most of the responses were that the Lafayette area didn't have enough variety. When my bank rep was asked for my opinion I told him that it would be a horrible idea. The area can not sustain Meijer, 2 Krogers, 2 Marsh Supermarkets and a Walmart. A new Starbucks is going in the old Krispy Kreme space between Georgetown and Moller road on 38th St which I think is a good idea.

Simons problem in Lafayette Square was that they waited too late to make rent deals with retailers. Some of the stores had very high shrinks (percentage of product lost). Aeropostale came in on the tail end and received a good deal but by that time most of the major mid-range stores had already closed.