Greenwood? Canary in the coal mine?

I love Greenwood. If I had money, I would invest in Greenwood. But, as of now, there are at least 16 different major locations for sale or rent on the stretch between Bond and Pilot Butte. Franklin also seems to be emptying out. (Anyone know what happened to Alpine Glass?)

These are part of Old Bend's light industrial area: Greenwood, Franklin, 2nd and 1st Streets, because of their proximity to downtown and the railroad. When Third Street became the thru route in Bend, it still retained it's usefulness, and had Division St. as a new companion.

Thing about light industrial -- you don't really need to be in a busy, populated part of town. Hence, industrial parks on the outskirts. Over the last 30 years or so, most of the light industrial moved out of the area into newer, cheaper, roomier facilities.

Leaving spaces that are too big for most boutique retail, and too small for most bigger type stores. Spaces that are neither fish nor fowl, if you will. What moves in? Spa sales, furniture stores, and -- ahem -- used bookstores. Or hybrid retail, like Boomtown. (The location was great, I don't think that was their problem.) Hell, it would work pretty well for Pegasus.

Except for one thing. THEY WANT TOO MUCH MONEY FOR RENT!

Like I said, it's odd sizes. The only businesses that can use the space are places that need lots of cheap space for rent and at the same time need a visible location. I'd like to emphasize that: lots of cheap space for rent and a visible location. What they don't need is downtown sized rents.

I was shocked when I inquired about the cost of the Urban Domain space next to the BookMark, when it first became open a few years back. I think they quoted me something like 1.50 to 1.75 a foot. (And this was several years ago. And they did say, 'make an offer.')

That's crazy. That fact that all the Spa stores and most of the Furniture stores have disappeared over the last year, would seem to confirm that.

There is a lot of possibility on Greenwood. It's a major thoroughfare. It's attractive to the right kind of trail-blazing store. But not if they mistake themselves for Old Downtown.

I've said before, I think reasonable, long-term survival rates (when things are going well, maybe not now) would be less than 1.00 a foot for out of the way places, 1.00 for places like 3rd St., 1.25 for Greenwood, Franklin, Century, Galveston, Newport. I'd have to say 1.50 to 2.00 a foot for downtown and the Old Mill. (Never happen.) In other words, at least a third less than they are now. (I included the damn triple net, as part of the damn rent, dammit!).

When Linda got our new terms for the lease of the BookMark, we both just gulped and went ahead. Though I think I still hear her mumbling to herself at night when she's alone.

Anyway, the reason I think that Greenwood is having trouble first is that people with lots of money to burn are still going into downtown and Old Mill and Century Drive, mass market are filling the Forum and Cascade Village, and people without money are looking for cheap locations in any nook and cranny they can find.

Leaving Greenwood high and dry.