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re: Are indoor malls going away?
Posted on 5/12/14 at 7:48 pm to Zach
Posted on 5/12/14 at 7:48 pm to Zach
They are quickly becoming extinct down here in Florida. They are being replaced with large shopping complexes where you have to move your car from store to store if you are covering a lot of ground.
I think the real issue is the Internet effecting shopping habits. People no longer just go to a mall and stroll around for hours at a time. Shoppers are purposeful where they go get a target item and leave. Strolling around is now being done more and more on line.
I think the real issue is the Internet effecting shopping habits. People no longer just go to a mall and stroll around for hours at a time. Shoppers are purposeful where they go get a target item and leave. Strolling around is now being done more and more on line.
1
Posted on 5/13/14 at 8:59 am to TheHiddenFlask
quote:
There hasn't been a single indoor mall built since 2007.
Most malls today are being built as mixed use developments and are essentially a combination of indoor/outdoor malls.
Posted on 5/13/14 at 10:09 am to hiltacular
Posted on 5/13/14 at 10:34 am to Zach
I haven't been to a mall in years but I'm not their target market.
Posted on 5/13/14 at 12:38 pm to LSUwag
quote:
They are quickly becoming extinct down here in Florida.
Dude, the Aventura mall (which I live right by on the ocean side) is insanely and ridiculously packed every time I go. I don't like shopping in the first place, but I really do not like going there because it is hard to find a parking spot year round and it is so damn packed all the time. But they also have the clothes I like and anytime I am buying nice clothes, I'm gonna have to try them on and look at them in person before buying.
Been going to that mall many years and if anything it gets more and more crowded every year.
Posted on 5/13/14 at 12:42 pm to Tiger n Miami AU83
Found this just now on Aventura Mall.
quote:
About Aventura Mall
MIAMI'S PREMIER FASHION DESTINATION
Miami's premier fashion destination, Aventura Mall features a collection of upscale boutiques and more than 300 of the world's most iconic, recognized retailers. Anchored by Bloomingdale's, Nordstrom and Macy's, the shopping venue features a magnificent, two-story flagship Louis Vuitton, as well as Cartier, Burberry, Red Valentino, Emilio Pucci and Breitling.
Aventura Mall is consistently ranked as one of the nation's top five grossing shopping centers and has been named one of America's most visited shopping centers by Travel + Leisure magazine.
Aventura Mall's 28 million+ annual visitors also enjoy nearly a dozen restaurants, an artist-designed interactive playground, a 24-screen AMC Movie Theatre with IMAX, and a taste of South Florida's thriving arts scene with Turnberry for the Arts, featuring contemporary installations by renowned international and South Florida artists.
Posted on 5/13/14 at 12:46 pm to Tiger n Miami AU83
Www.deadmalls.com is a CSB website.
Posted on 5/13/14 at 9:02 pm to Tiger n Miami AU83
High end malls like the galleria are still doing well.
However, measuring a mall by visitors is such a stupid and pointless measure. Most of the people there are just loitering kids and old ladies power walking. Show me revenue numbers or I don't care.
However, measuring a mall by visitors is such a stupid and pointless measure. Most of the people there are just loitering kids and old ladies power walking. Show me revenue numbers or I don't care.
Posted on 5/14/14 at 12:25 am to TheHiddenFlask
Malls are a ticking real estate time bomb. One goes up and everybody thinks economic prosperity. Check back in a decade or two and the real estate around it is no long prime.
Posted on 5/14/14 at 12:48 am to jmarto1
quote:
Check back in a decade or two and the real estate around it is no long prime.
It is because the majority of malls cannot do one of two things
A) Renovate their property to keep pace with newly opened competing malls
B) Renovate their property to be nice enough to attract people who want to shop there as opposed to Amazon
Posted on 5/14/14 at 7:54 am to jmarto1
quote:
Malls are a ticking real estate time bomb. One goes up and everybody thinks economic prosperity. Check back in a decade or two and the real estate around it is no long prime.
This just isn't true. Are there malls out there that are failing? Absolutely but that is also true with literally any business that exists. I feel like we are taking the Louisiana bubble and trying to expand it to the rest of the country. Malls in LA suck, they don't in the majority of the country.
Posted on 5/14/14 at 8:16 am to Zach
High end malls will continue to prosper (i.e. malls with many company specific specialty stores like Louis Vutton/Tory Burch/Prada/Tiffany's etc.), while the malls anchored by Sears/JC Penny's will continue to deteriorate. People are more comfortable buying high end items in person from company stores, to ensure they don't get a counterfeit online. And women like to see the selection and try stuff on in person.
Posted on 5/14/14 at 8:19 am to Ric Flair
Pretty much agree with your post.
Posted on 5/14/14 at 9:20 am to Draconian Sanctions
quote:
I was last in a mall to buy a PS4 a few months ago and it was packed arse.
But were people buying? OR just using it as a heat and cooled hang out?
I have not been in a traditional indoor mall in about 8 years. I can think of some that are becoming increasingly dangerous.
On the east coast, the new trend in building is mixed upscale apartments with ground floor shops.
Posted on 5/14/14 at 10:17 am to Zach
quote:
Was reading WSJ. Anchor stores like JCP and Sears and closing down. Online sales are going up. I haven't been in an indoor mall in about 5 years.
The Mall of Louisiana's bottom floor is a flea market. I am not sure what that means but it cannot be good for how the mall owner long-term.
Posted on 5/14/14 at 8:07 pm to Paul Allen
quote:
Isn't Mississippi building a huge one?
I heard talk of one planned around d'Iberville near the I-10/I-110 intersection but upon reflection consider that using Mississippi as anything near a bellwether of any sort is dangerous and unproven ground.
#50 by a wide margin, if it weren't for the Coast and Madison, MS, the State would be like a province of a Third World country.
Posted on 5/15/14 at 11:56 am to Blakely Bimbo
quote:
On the east coast, the new trend in building is mixed upscale apartments with ground floor shops.
Funny. New Orleans started doing that 296 years ago. Seriously though Manhattan and other places are almost exclusively like this.
Posted on 5/16/14 at 11:55 pm to hiltacular
quote:
This just isn't true. Are there malls out there that are failing? Absolutely but that is also true with literally any business that exists. I feel like we are taking the Louisiana bubble and trying to expand it to the rest of the country. Malls in LA suck, they don't in the majority of the country.
Lakeside in Metairie is one of the most successful malls in the United States. Malls are dropping daily. The industry has changed. I get e-mail after e-mail from brokers trying to sell malls off for pennies on the dollar. From an investor standpoint you can buy a huge mall for super cheap.
This mall (see photo below) in Nashville recently sold for $1 million. It is a modern 1.1 million square foot mall that was once very popular. The owner needed to dump it for cheap because it was huge monthly loss to maintain the property.
Posted on 5/17/14 at 7:09 pm to nolanola
Online is definitely the catalyst for a mall's demise. Little to no reinvestment follows as stated above. Then you get shite like urban clothing and refrigerator magnet stores. It takes a strong area to support one imo. Not every mall can be like Tyson's Corner.
Posted on 5/18/14 at 7:55 pm to TheHiddenFlask
quote:.
There hasn't been a single indoor mall built since 2007. Think about that.
The largest mall in SWFL is opening in the fall very close to me. 1-75 and university google if you want. I call BS
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