The real estate company that owns the building that previously housed the Painted Tree Boutique location in Clive is launching a new business in the space to welcome back vendors.
After small business owners were shocked by the nationwide Painted Tree bankruptcy, some vendors were left with thousands of dollars in losses they couldn’t recoup. The building’s owner, Knapp Properties, originally sought out a new retail operator that could reopen the location as another marketplace.
But after some deliberation, Knapp Properties decided to take on the new business itself. This marks the first time the real estate development company has ventured out of its original field.
“This is something that we think we can handle and do a pretty good job with,” said Chris Costa, Knapp Properties CEO.
Eleven101 Collective will host a soft opening for the public on Thursday, July 30, and Friday, July 31, from 12 to 6 p.m.
What is Eleven101 Collective? What was the Painted Tree bankruptcy?
Painted Tree Boutiques used to be brick-and-mortar spaces where small business owners could set up shop. Instead of having to manage their own storefront, vendors could band together in one place, which made it easier for their businesses to get off the ground.
There were around 300 vendors in the Painted Tree store when the company ceased operations in April. The new Eleven101 Collective is trying to recruit the same vendors, Costa said. As of July 28, they’ve gotten about 200 vendors for the soft launch.
What’s changed as Eleven101 Collective opens?
Knapp Properties hired the original manager and assistant manager from Painted Tree. After three months of learning more about the industry and connecting with vendors, buyers can expect “a very similar experience with some upgrades,” Costa said.
Knapp updated the point-of-sale system for all vendors, which will better track how sellers can receive their funds. They’ve redecorated the space to help it feel more inviting. The IT department has upgraded cameras so vendors can easily check in on their booths when they’re not there. And customers can find vendor booths with a new kiosk.
“Part of it is instilling trust [with vendors,]” Costa said, “That if they open a location within our space, that they’re going to get what they’re due for their sales, which is something I don’t think Painted Tree honored in the last month of operations.”
Knapp Properties will be taking notes during the soft launch to smooth out any other kinks in the process. A formal grand opening will happen later in fall 2026.
Where to find Eleven101 Collective
Lucia Cheng is a service and trending reporter at the Des Moines Register. Contact her at lcheng@gannett.com or 515-284-8132.
This article originally appeared on Des Moines Register: Get a look at Eleven101 Collective, the shops replacing Painted Tree
Reporting by Lucia Cheng, Des Moines Register / Des Moines Register
USA TODAY Network via Reuters Connect
By Lucia Cheng, Des Moines Register | USA TODAY Network
