With so many new and local businesses transitioning to Highway 54, it may leave the impression that Owensboro’s west side is not an ideal business location. Greater Owensboro Realty Co. real estate agent Todd Humphreys said it is actually quite the opposite.
“Five years ago, people thought, if they opened a business, it had to be on 54,” Humphreys said. “There’s been a lot of businesses that moved out there and didn’t make it. The rent out there is a lot higher.”
Humphreys said the rent for a space on Highway 54 can run anywhere between $16-$25 a square foot, whereas on Parrish Avenue, rent can run anywhere from $10-$16 a square foot.
As far as location benefits for local businesses, Humphreys said most businesses that were in town and hoped to move to 54 have probably already made the transition, leaving a lot of open retail space.
“Our [Owensboro’s] demographics are different,” Humphreys said. “I think it’s kind of slowed down enough that people in Owensboro are looking for things on Frederica and even Parrish.”
The West Parrish Plaza built and owned by Charlie Kamuf approximately three years ago, is seeing proof of that now. The small strip plaza at 2601 W. Parrish Avenue maintains eight spaces and currently houses Donatos Pizza, eCig Source and Edward Jones has hopes of filling up completely by year’s end.
Humphreys said shopping centers seem to draw more attention when they’re not filled, but that does not mean they aren’t making progress; he said it just takes time.
“If it’s in a decent area, it’ll take about 3-5 years to get it full,” Humphreys said. “We built Paradise Plaza next to one of the busiest Walmarts in the state of Kentucky and it took six years to get it full.”
Taqueria La Plazita, a new Mexican restaurant created by Mi Ranchito owner Trinidad Gonzalez, is set to move into West Parrish Plaza in the space next to the former Wasabi Parrish location in the next few months, with an anticipated opening by the first of June.
“It’s going to be a (authentic) Mexican restaurant,” Gonzalez said. “It will have a different name because it will have different partners. We will close the one that used to be the old Subway and move into the new one sometime in May or the first weekend in June.”
Gonzalez hopes to move into the space in the next two and a half months and even has a dream of one day having enough success and enough space to open an adjoining grocery store.
With the addition of Taqueria La Plazita, West Parrish Plaza will be 50 percent occupied. Humphreys said he is currently speaking with someone who is interested in the restaurant location as well as a company looking at about 1,800 square foot of space.
“Once you start getting activity — activity seems to breed activity,” Humphreys said. “I would anticipate that it will be filled by the end of this year.”
