Arborland's Old Navy downsizes, creating room for new retailer in shopping center
The Old Navy store in Arborland recently downsized, opening up 6,000 square feet of retail space in the center.
Jeffrey Smith | AnnArbor.com
A 6,000-square-foot listing went up with Arborland listing broker Michael Lippitt of Landmark Commercial Services for a portion of the space, which is located on the western edge of the shopping center.
The reason: Old Navy reduced its store size after parent company Gap Inc. announced its plans to remove 1 million square feet from U.S. Old Navy stores in October 2011.
At the same time, Gap Inc. also announced its plans to reduce the number of Gap stores in the United States to 700 by 2013, creating a “smaller, healthier specialty store fleet,” the company said in a statement last year.
A portion of the Old Navy space in Arborland has been on and off the market since 2009, when Gerdom Realty & Investment had a listing for 3,920 to 8,748 square feet of the store to be subleased. But the listing was taken off the market in 2010.
The store also underwent renovations late last year, which included painting, installing new fixtures and a new rectangular-shaped checkout line constructed to replace the previous setup, which featured individual checkout lanes.
The asking price for the 6,000-square-foot space is $19 per-square-foot, according to marketing materials.
Lippitt said Arborland owner AmCap Inc. would prefer a retail user for the space.
“We’re looking for a soft goods company, and we’ve got some interest on it,” he said. “We want something that will complement the Old Navy and all the other retailers we have there.”
Lippitt announced last week that two retail tenants signed deals to split the former Borders store in the center: Five Below, a discount retailer that targets teen and pre-teen customers, and beauty superstore Ulta.
The stores are expected to open sometime this fall.
Lizzy Alfs is a business reporter for AnnArbor.com. Reach her at 734-623-2584 or email her at lizzyalfs@annarbor.com. Follow her on Twitter at http://twitter.com/lizzyalfs.
Comments
bunnyabbot
Thu, May 17, 2012 : 5:39 a.m.
Old Navy has clothes at inexpensive prices because they are cheaply made, cheap/poor quality at sweatshop prices. Therefore I do not shop there, or the Gap.
Ron Granger
Wed, May 16, 2012 : 7:48 p.m.
Looks like the Old Navy is Sinking. Last one to the lifeboats gets left behind! Has anyone seen Gopher?
Corrington
Wed, May 16, 2012 : 6:27 p.m.
"Complement." Not Compliment. Unless Lippitt would like someone to stand there and tell Old Navy how beautiful she looks today.
Jessica Webster
Wed, May 16, 2012 : 8:55 p.m.
Thanks, Corrington. We've made that change.
maxima284
Wed, May 16, 2012 : 4:18 p.m.
I wish they would bring a Buy Buy Baby or a Hobby Lobby
From Nearby
Wed, May 16, 2012 : 5:35 p.m.
Yeah, a 6000sqft Hobby Lobby would be great.
amazingblue
Wed, May 16, 2012 : 3:36 p.m.
So is the Old Navy getting smaller now or has it been smaller since they completed renovations? Haven't noticed a difference and I'm a regular shopper.
chelsea
Wed, May 16, 2012 : 2:45 p.m.
Is Ulta opening a second store in Ann Arbor or just moving from the Eisenhower location?
Lizzy Alfs
Wed, May 16, 2012 : 11:15 p.m.
Ha, good catch. Yes, they declined to comment on that store location and suggested I try back in a few weeks.
eastsider2
Wed, May 16, 2012 : 10:05 p.m.
Reply to the reply: Or maybe Ulta "declined to comment"? Did they basically say "no comment" or did they deny that they did comment when you asked?
Lizzy Alfs
Wed, May 16, 2012 : 3:33 p.m.
Tom Goldberg, who owns the shopping center with the Ulta store on Eisenhower, said that location will not close. Ulta denied to comment on their plans.
Dog Guy
Wed, May 16, 2012 : 1:45 p.m.
This is news I can use: there is an Old Navy store at Arborland. I shall call and ask if they sell men's clothes.
obviouscomment
Wed, May 16, 2012 : 2:02 p.m.
um yes they do...are you joking?