I have personally met with a couple of investors interested in the old Warners and Pergola restaurant building on Fort Thomas Avenue.  Interest appears to be high but price as always could be a sticking point.  Those that I have spoken with are very interested in the location and based on the sales at the previous restaurants feel they can make a good return on the location.

Despite the perception that Fort Thomas residents do not support Fort Thomas businesses statistics that these investors are using not only refute that perception but completely turn it on its head.  For example:

  1. There are 200 Subways in the Cincinnati MSA and our Fort Thomas Subway which is across the street from the old Warner’s building is ranked 9th out of 200.  This despite little to no catering business which generally accounts for a large percentage of a Subway’s sales.
  2. Starbucks in Newport (I know – technically not Fort Thomas but we have claimed it as our own) is another example of retail success driven by our under-served Fort Thomas retail market.  Out of 55+ Starbucks in the Cincinnati area it too is a top performer.
  3. Kroger’s store at the Newport Pavilion has been very successful.  Despite having another store less than a mile away in Bellevue and an inoperable fuel center the store has been one of the better performing stores in the area.
  4. Target’s construction despite the fact that there is a broken sewer line and the developer is in bankruptcy.  This speaks volumes to Target’s belief in the area and the attractiveness of the demographics of the surrounding area.

Back to the old Warner’s building.  There is at least three different restaurant concepts that are considering the move.  Right now the list price on the building is in excess of $600,000 but if a sale were to happen it would have to be more in the $550,000 range.  This of course was one of the primary sticking points in the lease between Warner and Pergola that led the Krebs to walk away from a rather large investment. 

Keep your fingers crossed because there is a good chance Fort Thomas may have another dining option soon.

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