Probing the Voids of This Retail Microcosm

People like to talk about "macroeconomics" a lot. Those are the "big picture" people. My mission here is "microeconomics". The reasoning being: You can't understand what's happening on the "macro" scale if you don't have a firm grasp on "micro" scale dynamics.

Apparel Shortage

With Stein Mart in the midst of its store-closing sale, Kendall Park/Franklin Park will be losing its one major clothing store. Alankar Boutique, which designs and sells women's clothing for the Indian demographic, remains. Still, there's a large segment of the local population who aren't Indian. Could it be most people now buy their clothing online? There must be plenty of people who want to see, feel and try on clothing before they buy (me, for one). I have a hard time believing that most people in the area buy their clothing at the two local Targets. It could be Costco and BJ's Warehouse, both close by, have eaten away at the discount clothing consumer that's also Stein Mart's target customer. More likely, it's a combination of factors.  Nevertheless, there seems to be a void. And in the business-world, where there is a void, there is opportunity. Perhaps a second-hand clothing store would work if you could get cheap enough rent. To succeed, any apparel store would require a creative angle. A Children's Place Outlet survived for many years just south of Route 518. Another apparel outlet might work well in the space where Stein Mart is now.

Coffee Hangout

Another void, the local coffee shop. Franklin Park Diner can probably serve that purpose for some. However, I'm surprised that there's no full-sized Starbucks or Panera in this area. For a Starbucks, you either have to go to North Brunswick, about 6 miles away; Somerset, 9 miles away; or Princeton, about 10 miles, to buy a grande cappuccino and plop into an overstuffed chair to read, write your blog, or listen to podcasts through your earbuds. 

If you absolutely crave or are addicted to Starbucks coffee, there's the counter at Stop & Shop, but they'll look at you funny if you bring in a chair to relax and read. There was a Rock'n' Joe coffee shop at Towne Place shopping center (near Kendall Park roller rink) a few years ago, but that didn't last very long.

Better yet, maybe the Franklin Township Library Franklin Park branch can start serving coffee and croissants. Oh, but they don't allow any food in there.  Drat!

Let me know what's going on in your business on Route 27 between Finnegan's Lane and Route 518. Email me at lkiesche@gmail.com

Liz Kiesche

Twitter: @FollowFinance1

Inaugural Post

Wawa Construction site at Beekman Road

When I moved to Franklin Park 28 years ago, it didn't take long to notice that new strip malls were being built even as existing ones had space available. So I've decided to chronicle the business in this area. Who's opening up and who's closing? I have chosen this stretch of Route 27 from Finnegans Lane to Route 518 (also labeled Georgetown Franklin Turnpike on maps), about 3.4 miles of road by Google Maps calculations. It's a fairly manageable area to cover and still has some room for building. In future posts, I plan to get more into why business owners choose to select the space they're in.

The area is also interesting in that Route 27 marks the boundary between Somerset and Middlesex Counties and between Franklin Township and South Brunswick. Much of this area is Kendall Park on the South Brunswick side and Franklin Park on the Franklin Township side. Municipal regulations may make a difference in which side of Route 27 a  business owner chooses to set up shop.

Leasing opportunies at Franklin Towne Center

Stein Mart store-closing sale

Comings & goings: 

• Wawa is building a new store at the intersection with Beekman Road, about 3 miles south of the Wawa convenience store in North Brunswick
• Stein Mart has started its store-closing sale 
• The Potting Shed, a florist at the intersection of Clover Place, has closed
• Another recent closing is the shoe repair business at the intersection of Claremont Road
• "Coming Soon" signs are up in Riya Plaza for Les Delices Bakery, Pie Five Pizza, Kwality Ice Cream and Rita Dance Academy (Rita Dance Academy from Finnegans Lane)

Over the course of two days I have made a list of businesses and buildings in the area. Here's what I've found out so far. There are: 

•  32 empty storefronts, nine of them at Franklin Town Centre; five of them at the property behind IHOP; and eight at the Riya Plaza, a new strip mall at the intersection with Finnegan's Lane, but four of those of signs for businesses that are "coming soon"
• Eight real estate offices
• Eight banks, including the PNC Bank branch located in Stop & Shop
• Six dry cleaners
• Five pharmacies including the one in Stop & Shop; two of them are CVS's
• Four houses of worship
• Three day-care/Pre-K schools
• Three tutoring centers
• Three gas stations
• Three liquor stores
  
  Related link: Stein Mart Closing Franklin Park Store In October

Let me know what's going on in your business on Route 27 between Finnegan's Lane and Route 518. Email me at lkiesche@gmail.com

Liz Kiesche