What's Missing From The Southeast Riverfront?
A few years ago, a story about what's missing from the Southeast waterfront would have been longer than a story about what's there. Times have changed. The area has exploded with residential development, highly coveted retailers and restaurants and development plans.
But the one thing the area still needs: office tenants. The Department of Transportation has more than a million SF of offices, the US Navy still has thousands of workers in the area and the National Association of Broadcasters will soon move in. But while developers like Skanska are confident of the neighborhood's ability to attract tenants looking for smaller chunks of space, the market hasn't proven itself yet.
That's why Skanska's 99M speculative development will be viewed as a bellwether for the market. Rob believes the amenities, transportation access and proximity to water will bring tenants in. But, so far, the 222k SF of office space in the building, planning to open in early 2018, is still available.
The area could also use more soft goods retailers. Pacers Running and Hugh & Crye opened last year, but anyone shopping for gifts and clothes has to go elsewhere for a little more variety.
