Bicycle Alley, 1015 N. Broadway in Automobile Alley, closed Saturday, October 6th after three years in business. The consensus is that they were out-hustled by Schlegel Bicycles, 900 N. Broadway, which moved there shortly after Bicycle Alley opened.
Steve Mason owns the building at 1015 N. Broadway, which also has Coffee Slingers as a tenant. My $0.02: Mr. Mason offered BA & CS low initial rental rates to fill the building and generate buzz while he acquired additional properties. Today Automobile Alley & 9th Street enjoy good retail mix and demand, and he now has enough merchant demand to replace the weak businesses who can't survive without a rent subsidy.
On the other hand, Schlegel Bicycles is in a building owned by Chris Salyer, who is not enjoying having a good year, personally or professionally.
It's an interesting microcosm down there on Broadway, both macro- and microeconomically, and it ain't over yet. Some enterprising local business students should write a case study.
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