MVB has encouraged city leaders and those in real estate over a number of postings to make Miami the home of the toy industry. It began when the International Toy Center (ITC) in Manhattan lost its lease two years ago. Cities like Atlanta, Dallas, LA, and Orlando began sending delegations to the ITC to pitch them on moving. Last night the Toy Industry Association (TIA) voted to move the 2007 American International Fall Toy Show—the mass market show—to Dallas.
We believe a valid, single-minded effort on the part of the Beacon Council through a joint venture between Miami Beach, Miami and the County would have convinced the TIA to come to Miami.
It's a lost opportunity for Miami and the Beaches to show the international toy industry how worthy we are and what a great location south Florida would be for a permanent headquarters. Hosting the fall show would have made it easier to convince the TIA to move here. As it's been said before, you only get so many chances...
UpDate (3/16): It was revealed that "only Dallas and Atlanta presented complete proposals," to the TIA to move its mass market show out of New York according to TIA president Carter Keithley. Where was Miami and the Beacon Council?
Showing posts with label International Toy Center. Show all posts
Showing posts with label International Toy Center. Show all posts
Tuesday, March 06, 2007
Wednesday, November 15, 2006
Omni Center = International Toy Center
Looks like Manhattan based Argent Ventures wants to resuscitate the Omni Mall. Well, at least the south end. It intends to create three floors of offices totaling 240,000 square feet. Cost for the redo: $30 million, a figure they feel is well worth spending even though they only see the remodeling job remaining "untouched for at least 12 years."
It looks like Argent has money to burn, too. In 2005, it spent $100 million to buy out its partner and purchase the Radisson Hotel which is part of the three-block property. Long term plans call for razing the site, carving two streets through the property and building six condo towers starting at the northern end of the megaparcel.
In the meantime, MVB's "Flashlight Forum" through an email today humbly suggests they contact the International Toy Center in Manhattan and see if they can induce it to move in. Before this blog ever saw the light of a pixel, we have been advocating exactly this (see here). When it looked like Argent was going to take the Omni property into another direction, we suggested our community leaders look at 600 Brickell as a possible location. Either one works for us as long as it brings global companies to south Florida.
Sunday, October 29, 2006
MVB Flashlight on: The International Toy Center in Miami
Before MVB existed, we were always a "gadroach" (see here). We mailed and emailed anyone in the public or private sectors about ideas we had regarding south Florida. Aside from former City of Miami manager Joe Arriola who emailed us back about our idea of making the Miami Arena part of a "megaplex" that included a hotel and a baseball stadium that straddled the MetroRail tracks (here) and (here), we rarely heard from anyone. (Arriola in his fashion, told us in no uncertain terms we were nuts. How he knew we were seeing a shrink in group therapy was and still is creepy).For nearly two years the toy industry has been looking for a permanent home. The International Toy Center (ITC) is basically a huge merchandise mart for toy companies. Headquartered in NYC for over a hundred years, everything was running smoothly until it lost its lease. It's been looking for a permanent home ever since and has entertained suggestions from civic leaders in Atlanta, Los Angeles, and Dallas to mention just a few. Although there is a strong percentage of toy executives who don't want to leave New York, there is also a growing percentage that don't really care. They just want a permanent building to display their wares and have access to a large convention center once a year to stage their humungous toy show. Right now, that happens in the dead of winter every February at the Javits Center.
To us, moving the ITC to Miami is a no brainer because it has everything they need: rents within their budget and access to a large convention center, i.e, the Miami Beach Convention Center. Since manufacturing has basically moved overseas, it is no longer necessary to be located in the industrial northeast. At one point, the ITC was looking for nearly a million square feet of floor space. Omni Mall had that and more. Times have changed since then. Omni looks like it may be torn down to build multi-use towers. Now the ITC is looking for a minimum of 300,000 square feet. In desperation to find a building, they may settle for one built in 1903. Part of the leasing program for that building includes:
• Leases of five, seven and 10 years will be offered ranging from $39.20 to $44.20 per square foot, depending on the length, with increases of 2 percent to 3 percent, depending the term, after the first year.
• The landlord will provide basic showroom build outs at no additional cost. In the alternative, the tenants may design the space themselves and receive and $35 per square foot "cash contribution," along with the landlord's base building work.
• Included in those rental amounts, $1 per square feet will revert back to the NYTT.
• Tenants will split the cost of the building's electricity plus a 10 percent fee, and pay for their own cleaning services.
• Tenants will also pay a pro rata portion of future real estate tax increases and fuel increases above the 2007 calendar year level.
• Tenants will have one option to extend their leases.
Space allocations will be made largely on a first come, first served basis, along with other considerations, such as space demands.
The landlord will also provide a 2,000 square foot multi-purpose space to serve as a buyers' lounge, conference and media room.
One of the location's drawbacks-- besides being one freaking old building-- is that it isn't near public transportation. In fact, if the ITC takes that space, they plan to provide a shuttle service for its tenants to the closest subway entrance.
We believe the ITC can do much better in Miami. It has been months now since we last contacted Mayor Diaz's office. The last thing we heard was that his staff was working on it (sadly, as much as we respect County Mayor Carlos Alverez, we got no reply from his office). Hopefully they actually are "working on it." Hopefully they believe there is still a chance to lure the ITC to Miami.
According to the latest dispatch from "Playthings Extra," an e-newsletter for the toy industry, everybody wants a decision made on a permanent location ASAP-- but not all of industry executives care if that location is in New York.In June we contacted RTKL architects who are designing a stunning tower called 600 Brickell. It has more than enough space for the ITC and is conveinently located near MetroRail and the People Mover. We suggested RTKL get in touch with the ITC. Hopefully they have because if they leave it up to the City and the Beacon Council to attract new business, it probably won't happen.
One thing Miami doesn't have is a lot of headquartered globally known brand names. Bringing the headquarters for hundreds of toy manufacturers from all over the world to downtown Miami will be a good thing for all who live here because it will focus the attention of leaders of industry on Miami and it will bring people who can actually afford to buy some of the 40,000+ chi chi condos planned for downtown. With our climate, and access to the world through MIA and the Port of Miami, it only takes a little effort on the part of the City and County to send a delegation to New York to make the convincing pitch. Other cities already have and since it's not too late, we should too.
Wednesday, July 19, 2006
Miami: Home of the International Toy Center?
The International Toy Center (ITC) in New York, site of the annual International Toy Fair each February, is looking for a new home. Cities like Atlanta, Dallas, and Los Angeles actively recruited the organization. At one point last year, there was talk about moving the October trade show to Dallas. I brought this up to the Mayors of Miami and Metro-Dade county way back in 2005 and only Miami Mayor Manny Diaz acknowledged my email with a promise that his staff would look into it.
The ITC is basically a merchandise mart for toy companies and because they are being evicted from a building they have been in since 1968, the search for a new home began over a year ago. The group is looking for a minimum of 300,000 s.f. with access to a major convention center (like the Javits Center) for the annual International Toy Fair. Currently, the ITC favors the following from building owners:
• Leases of five, seven and 10 years will be offered ranging from $39.20 to $44.20 per square foot, depending on the length, with increases of 2 percent to 3 percent, depending the term, after the first year.• The landlord will provide basic showroom build outs at no additional cost. In the alternative, the tenants may design the space themselves and receive an $35 per square foot "cash contribution," along with the landlord's base building work.• Included in those rental amounts, $1 per square feet will revert back to the NYTT (New York Toy Tenants).• Tenants will split the cost of the building's electricity plus a 10 percent fee, and pay for their own cleaning services.• Tenants will also pay a pro rata portion of future real estate tax increases and fuel increases above the 2007 calendar year level.• Tenants will have one option to extend their leases.Space allocations will be made largely on a first come, first served basis, along with other considerations, such as space demands.The landlord will also provide a 2,000 square foot multi-purpose space to serve as a buyers' lounge, conference and media room.
Right now the ITC is looking at a building built in 1903 in New York. It's not near the subway but the ITC is considering shuttling people working at the building to and from the nearest subway entrance. That's how desperate it is to find a new location-- and remain in New York.
What would it take for them to consider Miami?
First, an affordable space. Although the empty Omni Mall has 1 million s.f and would be a great location, plans now call for it being razed for new towers. 600 Brickell http://www.edzuck.com/files/pdf/600_Brickell.pdf is a stunning 952,000 s.f twin office tower (the tallest is 903 feet) that could accomodate the ITC-- plus it is just footsteps away from MetroRail and MetroMover. Miami has approved its application to build, but it may be a few years down the road before it becomes reality.
Secondly, it would have to meet the above requirements and then some to entice the ITC to move out of NYC-- where many of the toy companies have set up shop since the end of World War I. Well, if the ITC can wait for 600 Brickell to be built, Miami fulfills all of its needs "and then some." For instance, who wouldn't want to attend the annual February Toy Fair at the Miami Beach Convention Center instead of in New York City in the dead of winter? I have attended the Toy Fair then, and let me tell you it is a brutal experience. The cold is hard to describe. Getting to and from your hotel to the Javits Center lugging your wares is a royal pain in the buttocks. With MIA and the Port of Miami servicing the world in people and freight and the cost of living being lower here than there, and moving into a building that is beyond state-of-the-art with mass transit right outside your window instead of a 106-year-old building seems to me to be a no-brainer.
With the proper incentives from the business community and the public sector, Miami is the place to be. I queried the senior VP in Miami for RTKL, the firm that is designing 600 Brickell, regarding the ITC as a possible tenant on June 28th and have not received a response. Right now, my blog, although it is only a few weeks old, seems to be the Rodney Dangerfield of blogs-- it "gets no respect." That's my opinion. What's yours?
Up Date: This toy industry link http://www.playthings.com/article/CA6354768.html will take you to the latest (July 19th) on the subject.
Up Date (August 1st): Miami's chances are falling further and further away. The latest report from Playthings is that although the toy companies may have missed a July 31st deadline to sign on with a building in New York, the deadline has been extended. Over 200,000 s.f. of leases were sent out with expectation for the ITC to buy the building outright. http://playthings.com/article/CA6358510.html
Up Date (August 23): Proposed NYC toy center still in works
By Brent Felgner
Playthings -- 8/21/2006 9:41:00 AM
NEW YORK—Three weeks after the deadline to commit to 636 Eleventh Ave. as the next industry showroom center, negotiations are apparently continuing to determine if another version of the plan might still work.
Representatives of the developer, 636's current owner and a tenants' group are reportedly in conversations about whether more time can be found to attract a broader toy company tenant base and whether the purchase of the building can or should move forward, Steven Greenfield, coordinator of the New York Toy Tenants, told Playthings. If the deal does come together, he said a move by February's Toy Fair might still be possible.
The original plan for 636 called for a minimum of 250,000 square feet in signed leases to be delivered by July 31 in order for the building's sale to a joint venture of The Feil Organization and Winoker Realty, who would then convert all but two of the building's floors to toy business-related showrooms. That didn't occur, Greenfield said, because of delays in architectural plans and companies' approval processes, among other reasons.
Up Date (August 30th): New Toy Center taking shapeBy Brent FelgnerPlaythings -- 8/28/2006 7:29:00 AM
NEW YORK—Developers of the proposed Toy Center at 636 Eleventh Ave. reportedly will move forward with the purchase of the building despite missing the original deadline and coming up short of their original plan.
The renovations and showroom build-outs will not be ready in time for February 2007's American International Toy Fair, according to Steven Greenfield, coordinator of New York Toy Tenants. However, Greenfield said he expects the building to be ready before the October 2007 Fall Toy Show.
Greenfield disclosed the developments late last week in an email blast to NYTT’s members. He claimed that more than 180,000 square feet in lease commitments have been made to date. The original plan called for 250,000 square feet in signed leases in order for the building to move forward as a replacement for the showroom space lost at the International Toy Center at 200 Fifth Ave. and 1107 Broadway.
Greenfield said new dates and guidelines for leasing in the building should be coming shortly from developers The Feil Organization and Winoker Realty. (from Playthings, newsletter for the toy industry).
It looks like this is a lost cause for Miami. Too bad because the city needs companies like this to fill vacant office space and people to fill empty downtown condos. MVB has to wonder with the heads-up they were given by this blog if the City of Miami or the Beacon Council made any effort to woo the toy industry. The last thing we heard was from the Miami mayor in an email saying he would have his staff look into it in 2005.
The ITC is basically a merchandise mart for toy companies and because they are being evicted from a building they have been in since 1968, the search for a new home began over a year ago. The group is looking for a minimum of 300,000 s.f. with access to a major convention center (like the Javits Center) for the annual International Toy Fair. Currently, the ITC favors the following from building owners:
• Leases of five, seven and 10 years will be offered ranging from $39.20 to $44.20 per square foot, depending on the length, with increases of 2 percent to 3 percent, depending the term, after the first year.• The landlord will provide basic showroom build outs at no additional cost. In the alternative, the tenants may design the space themselves and receive an $35 per square foot "cash contribution," along with the landlord's base building work.• Included in those rental amounts, $1 per square feet will revert back to the NYTT (New York Toy Tenants).• Tenants will split the cost of the building's electricity plus a 10 percent fee, and pay for their own cleaning services.• Tenants will also pay a pro rata portion of future real estate tax increases and fuel increases above the 2007 calendar year level.• Tenants will have one option to extend their leases.Space allocations will be made largely on a first come, first served basis, along with other considerations, such as space demands.The landlord will also provide a 2,000 square foot multi-purpose space to serve as a buyers' lounge, conference and media room.
Right now the ITC is looking at a building built in 1903 in New York. It's not near the subway but the ITC is considering shuttling people working at the building to and from the nearest subway entrance. That's how desperate it is to find a new location-- and remain in New York.
What would it take for them to consider Miami?
First, an affordable space. Although the empty Omni Mall has 1 million s.f and would be a great location, plans now call for it being razed for new towers. 600 Brickell http://www.edzuck.com/files/pdf/600_Brickell.pdf is a stunning 952,000 s.f twin office tower (the tallest is 903 feet) that could accomodate the ITC-- plus it is just footsteps away from MetroRail and MetroMover. Miami has approved its application to build, but it may be a few years down the road before it becomes reality.
Secondly, it would have to meet the above requirements and then some to entice the ITC to move out of NYC-- where many of the toy companies have set up shop since the end of World War I. Well, if the ITC can wait for 600 Brickell to be built, Miami fulfills all of its needs "and then some." For instance, who wouldn't want to attend the annual February Toy Fair at the Miami Beach Convention Center instead of in New York City in the dead of winter? I have attended the Toy Fair then, and let me tell you it is a brutal experience. The cold is hard to describe. Getting to and from your hotel to the Javits Center lugging your wares is a royal pain in the buttocks. With MIA and the Port of Miami servicing the world in people and freight and the cost of living being lower here than there, and moving into a building that is beyond state-of-the-art with mass transit right outside your window instead of a 106-year-old building seems to me to be a no-brainer.
With the proper incentives from the business community and the public sector, Miami is the place to be. I queried the senior VP in Miami for RTKL, the firm that is designing 600 Brickell, regarding the ITC as a possible tenant on June 28th and have not received a response. Right now, my blog, although it is only a few weeks old, seems to be the Rodney Dangerfield of blogs-- it "gets no respect." That's my opinion. What's yours?
Up Date: This toy industry link http://www.playthings.com/article/CA6354768.html will take you to the latest (July 19th) on the subject.
Up Date (August 1st): Miami's chances are falling further and further away. The latest report from Playthings is that although the toy companies may have missed a July 31st deadline to sign on with a building in New York, the deadline has been extended. Over 200,000 s.f. of leases were sent out with expectation for the ITC to buy the building outright. http://playthings.com/article/CA6358510.html
Up Date (August 23): Proposed NYC toy center still in works
By Brent Felgner
Playthings -- 8/21/2006 9:41:00 AM
NEW YORK—Three weeks after the deadline to commit to 636 Eleventh Ave. as the next industry showroom center, negotiations are apparently continuing to determine if another version of the plan might still work.
Representatives of the developer, 636's current owner and a tenants' group are reportedly in conversations about whether more time can be found to attract a broader toy company tenant base and whether the purchase of the building can or should move forward, Steven Greenfield, coordinator of the New York Toy Tenants, told Playthings. If the deal does come together, he said a move by February's Toy Fair might still be possible.
The original plan for 636 called for a minimum of 250,000 square feet in signed leases to be delivered by July 31 in order for the building's sale to a joint venture of The Feil Organization and Winoker Realty, who would then convert all but two of the building's floors to toy business-related showrooms. That didn't occur, Greenfield said, because of delays in architectural plans and companies' approval processes, among other reasons.
Up Date (August 30th): New Toy Center taking shapeBy Brent FelgnerPlaythings -- 8/28/2006 7:29:00 AM
NEW YORK—Developers of the proposed Toy Center at 636 Eleventh Ave. reportedly will move forward with the purchase of the building despite missing the original deadline and coming up short of their original plan.
The renovations and showroom build-outs will not be ready in time for February 2007's American International Toy Fair, according to Steven Greenfield, coordinator of New York Toy Tenants. However, Greenfield said he expects the building to be ready before the October 2007 Fall Toy Show.
Greenfield disclosed the developments late last week in an email blast to NYTT’s members. He claimed that more than 180,000 square feet in lease commitments have been made to date. The original plan called for 250,000 square feet in signed leases in order for the building to move forward as a replacement for the showroom space lost at the International Toy Center at 200 Fifth Ave. and 1107 Broadway.
Greenfield said new dates and guidelines for leasing in the building should be coming shortly from developers The Feil Organization and Winoker Realty. (from Playthings, newsletter for the toy industry).
It looks like this is a lost cause for Miami. Too bad because the city needs companies like this to fill vacant office space and people to fill empty downtown condos. MVB has to wonder with the heads-up they were given by this blog if the City of Miami or the Beacon Council made any effort to woo the toy industry. The last thing we heard was from the Miami mayor in an email saying he would have his staff look into it in 2005.
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