[UC] Another of Penn's "vetted" shops in high-cost space goes kablooie

[Krfapt]

Article below from the DP.   Another aspiring entrepreneur, carefully vetted by the Omar Blaik team at Penn to have the privilege of paying too much rent for university-owned commercial space, is pulling up stakes. It's my (admitted) conjecture that folks like this get bamboozled by the smooth-talking Penn people in suits (few of whom have ever actually "earned" a dollar in the business sector) to rent at places like 40th St between Locust & Chestnut, or Sansom Commons, where the nut is so high their chances of a positive case flow are unreasonably low. True, a shop like Bike Line gets a certain amount of business from the high-rise dorms across the street. But they could have more square footage at less cost a block or two away, and pick up from the neighborhood business they may lose from naifs who think they fall off the edge of the earth just west of 41st Street.   Oh, yes. And the diligent investigative reporter (maybe he'll learn by the end of the semester) who wrote this piece mentioned the bike shop in another high-rent district, totally ignoring "The Bicycle Doctor" on Lancaster Ave, featured in last week's University City Review. Mike Sterrett (The "doctor") and several other people will do more for Lancaster Ave, while they're maximizing their own chances to make it "over the hump" than any of the people given the blessing by the Penn real estate mavens. (Or, have you noticed that only cash-heavy outfits like national chains and franchisees have any longevity in those places? And not all of them!)   Al Krigman ---------------------------------------------------------------------------------------------- Cycling store to wheel business out of U. City Bike Line to move to downtown locale at end of September By Benjamin Black September 14, 2004 Bike Line, the bicycle shop on 40th Street between Walnut and Spruce streets, will be closing its doors at the end of the month. The last day of business for the shop will be Sept. 27, before it moves to a different location at 10th and Arch streets. The new store is a "better location and bigger store," store manager Frank Schinchirimini said. The posters in the store describe the Center City venue as a superstore, and encourage patrons to visit the new location. Schinchirimini refused to disclose the reason for the move, and would not elaborate any further about leaving the community. Even after the shop closes its doors, there will still be a bike shop on campus. Trophy Bikes, located in the Left Bank building at 31st and Walnut streets, opened earlier this year as an alternative for students with bicycling needs. Bike Line's location on the 40th Street corridor is one that will likely be a popular retail opening on the block. The area has undergone a lot of change over the past year and a half. In the past two years, several new stores have opened on the block, and University officials hail the area as a thriving part of the community, close to many students' off-campus houses. Ben & Jerry's, Qdoba and the Greek Lady have all opened on the corridor and provide an active boost in food content to the neighborhood. Earlier this summer, the opening of Marathon Grill and MarBar brought the total of new eateries to five. Also new to the block in the last year is Marvelous Records, which offers CDs, vinyl records and comic books. When Bike Line closes, there will be two vacancies on the block, the other being directly adjacent to Marathon Grill. University officials could not be reached for comment yesterday with regard to the future use for the two spaces.