SALT LAKE CITY (ABC 4 News) - You know it as Salt Lake's newest and biggest shopping destination, and people from across the state have been flocking to City Creek Center. Wednesday, ABC 4 news wanted to know --- What impact is it having on downtown shopping one month after its opening?
Right now everything is flowing City's Creek's way - sales, shoppers, even stores are on the move. So that begs the question - what's left for Trolley Square? What about the Gateway Mall?
ABC 4 is told there may not be enough to go around.
Only one month old and it's clear City Creek pulls in the shoppers.
"It's beautiful," said one City Creek shopper.
"Obviously I'm on my lunch and doing right now,” said another City Creek shopper.
Real estate experts at Coldwell Banker tell ABC 4 they're seeing a seismic shopping shift in Salt Lake City.
"A lot of the tenants that would have located at Trolley Square for example have gravitated towards City Creek," said Brandon Fugal, Coldwell Banker, Executive Director.
Fugal tells ABC 4 it's an issue for both Gateway and Trolley. Stores like Banana Republic, the Gap, and Restoration Hardware have already made an exodus to City Creek, and there's likely more on the way. Right now 13% of Gateway’s retail space is empty. At Trolley it's 45%. Meanwhile at City Creek they only have 5% of their retail space left to fill.
"Do you think there's room enough for all three?” Reporter Brian Carlson asked.
“Not in the current market place," said Fugal.
Even with stores leaving, Fugal believes Gateway will weather the storm. He said with a big selection of restaurants, a movie theatre, and Energy Solutions Arena across the street, Gateway will be okay. But he said the City Creek effect won't be as kind to Trolley Square.
"Trolley has been plagued by a lot of vacancy in trying to reposition that center over the last 3 -4 years and this has really taken the wind out of their sails," said Fugal.
He said for Trolley Square to survive it will need to find stores that don't directly compete with City Creek. If you ask Trolley's staff they're not worried.
"You're not concerned about Trolley Square's future going forward?” Carlson asked.
“I'm not concerned at all. Ya know. I think the addition of City Creek helps not only Trolley Square but all of the shopping downtown," said Dawn Katter, Trolley Square, Property Manager.
But so far they're not grabbing enough shoppers’ attention.
Fugal believes Trolley Square can pull through all of this but it's going to take a few years. Just to show how tough things are for Trolley, according to people ABC 4 is talking to, the company who own Trolley Square is looking to sell.
