Galaxy Entertainment, an arcade located in the 3900 block of Walnut Street, and Roost Pizza and Stuff, in the 200 block of South 40th Street, both closed this week, Associate University Treasurer Chris Mason said. The two establishments join a list of recently closed businesses around campus, including Perfect Pretzel and The Lodge, both located in The Shops at Penn at 34th and Walnut streets. Last semester, both on-campus movie theaters closed. Although the Walnut Street theater, formerly an AMC operation, has since been leased, the former Eric 3 site on 40th Street remains vacant. In addition, two of the retail spaces available in the newly-opened parking garage at 38th and Walnut streets are still not filled, Mason said. The University is "slightly concerned" about the properties that remain vacant throughout campus, he added. But Vice President of Business Services Steve Murray said the rate of closings and openings is not unusual. "You do end up with businesses opening and closing all the time," he said. "It's a natural evolution -- small businesses tend to come and go." According to Mason, the stores that close on 40th Street create vacancies that the University has more difficulty filling. "It's perception more than anything else that makes it tougher," he added. "But we have no real problem filling stores on campus." Mason could not specify how much money the University loses when it is no longer renting out certain properties on campus. "We're not losing a lot of money and we can handle a vacant store here and there," he said. "But you don't have the revenue coming in." Despite the problems caused by closed stores, shops and restaurants, Mason said he receives phone calls weekly from those who have a "strong interest" in doing business on campus. And Murray said he "wouldn't read a whole lot into [the closings]." Stressing that the arcade does not cater to a "college crowd," Mason said he is not particularly upset that Galaxy Entertainment is closing. He said the University conducts marketing surveys every few years to determine what types of businesses the University community brings in and needs. Marty's Dollar Worth, a variety store, was located on 40th Street two years ago. Ever since it closed, Mason said, the University has attempted unsuccessfully to bring another variety store to campus. He added that he is "a little bit surprised" that at the University, the highest rate of turnover occurs in food-related businesses.
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