Retail, restaurants blossom in Western Gateway
Retail space along Locust Street is filling as the economy brightens and the John and Mary Pappajohn Sculpture Park attracts more visitors to the Western Gateway.
Jack Hatch, founder of Hatch Development Group Inc., which owns and occupies the Chamberlain Building at 1312 Locust St., said he recently leased two retail spaces there.
Zart 1312, an events venue, opened May 1, and Gigi’s Pilates Studio is expected to relocate from Ingersoll Avenue on July 1.
In July 2008, several months before the economic downturn curtailed retail leasing activity, Hatch opened the newly remodeled building with two tenants: JWalk Studio and Midwest Housing Equity Group Inc.
In 2009, he signed only one new tenant: Foundry Coworking.
“The recession hit, and things stopped for a full year,” Hatch said. But activity is picking up.
“Clearly the market has changed in the last four to five months,” he said, noting that he has letters of intent from a retail-service provider and a nonprofit organization to lease spaces.
Closing on those deals would boost the 29,000-square-foot Chamberlain Building’s occupancy rate to around 80 percent.
Jim Gibbons, a Republican candidate in Iowa’s 3rd Congressional District race, is temporarily leasing space for his campaign on the ground floor. Hatch, a Democratic state senator, said he hopes Gibbons hangs around until at least November.
A block to the east, Smokey D’s BBQ recently opened a restaurant at 1210 Locust St. in one of Nationwide Mutual Insurance Co.’s corporate campus buildings, and a Jimmy John’s restaurant is expected to open there soon.
On April 19, South Union Bakery Café reopened at 1011 Locust St. after closing for about two months to remodel and nearly double its seating capacity to accommodate nearly 100 guests.