There have always been a lot of closures on Pratt. I am not surprised to hear that the new shoe store seems to have closed. There was a lot of space but not a lot of product. I think they misjudged their demographics.
They could’ve made a go of it with more self-promotion, I think. At least would’ve lasted longer. It looks like they’ve gone to selling online and at a location in MA.
That sort of parallels (but much sped up) what happened with JoJos: had product not really existing elsewhere for a few blocks and it was decent, not great at self promotion, opened another store…except with JoJos, there was other stuff going on. I know everyone has been like “this is terrible” but it’s sort of like a “good death” at this point. Customer service had declined and hours were erratic. Many who could forgive the slow speed of the place were not willing to put up with rudeness or unpredictable hours.
Now, we hear rumor of Hartford Baking Company having interest in that location…but until we hear otherwise, that’s just rumor. It wouldn’t be bad, though, for HBC to actually have a presence in the city that is in its name. Right now they are only in West Hartford.
the pratt street analysis is key for Hartford.. one of the two “cute” streets in downtown area (the other is lewis st.)… and no one can stay for too long.. landlords have limits on any rent analysis due to Hartford tax mill rate which is so heavy… if empty, then they can count it as loss on their profit analysis for tax purposes.. better than giving a break to a tenant on rent and taking a loss without being able to put it on your tax return.. also commercial leases are about time length as well.. jojo’s did what they could.. a solid espresso place for years.. question: can pratt st. location in Hartford bring in enough business for tenants to pay the rent ?… answer: maybe… right on the border..
Susan Reynolds
There have always been a lot of closures on Pratt. I am not surprised to hear that the new shoe store seems to have closed. There was a lot of space but not a lot of product. I think they misjudged their demographics.
Kerri Provost
They could’ve made a go of it with more self-promotion, I think. At least would’ve lasted longer. It looks like they’ve gone to selling online and at a location in MA.
That sort of parallels (but much sped up) what happened with JoJos: had product not really existing elsewhere for a few blocks and it was decent, not great at self promotion, opened another store…except with JoJos, there was other stuff going on. I know everyone has been like “this is terrible” but it’s sort of like a “good death” at this point. Customer service had declined and hours were erratic. Many who could forgive the slow speed of the place were not willing to put up with rudeness or unpredictable hours.
http://www.realhartford.org/2014/12/22/most-best-awesome-superlatives-of-2014/
Now, we hear rumor of Hartford Baking Company having interest in that location…but until we hear otherwise, that’s just rumor. It wouldn’t be bad, though, for HBC to actually have a presence in the city that is in its name. Right now they are only in West Hartford.
lobonick
the pratt street analysis is key for Hartford.. one of the two “cute” streets in downtown area (the other is lewis st.)… and no one can stay for too long.. landlords have limits on any rent analysis due to Hartford tax mill rate which is so heavy… if empty, then they can count it as loss on their profit analysis for tax purposes.. better than giving a break to a tenant on rent and taking a loss without being able to put it on your tax return.. also commercial leases are about time length as well.. jojo’s did what they could.. a solid espresso place for years.. question: can pratt st. location in Hartford bring in enough business for tenants to pay the rent ?… answer: maybe… right on the border..
Kerri Provost
Thanks, Nick.