Greater Philly mall thread: The good, the bad, and the dead.

Discussion in 'The Suburbs' started by Nytecat, Mar 8, 2016.

  1. Nytecat

    Nytecat Well-Known Member

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    Moorestown has long dealt with vacancies at the ends. Now they’re going to have a rash of empty storefronts near the well patronized center of the mall. Not good. I don’t quite understand TJX’s branding efforts here either. Orange Theory could easily take up additional storefronts if they want to. I doubt they will though.

    Also in the news: PREIT’s Joe Coradino admits Exton Square’s future as a retail centered mall may be in doubt.
    Exton Square ‘doesn’t want to be a mall,’ PREIT CEO says on earnings call
     
  2. Nytecat

    Nytecat Well-Known Member

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  3. dontforget

    dontforget Well-Known Member

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    I always suspected rents at Plymouth and Moorestown, two B malls owned by PREIT, were likely too high that the mall didn't fill the same way as say Neshaminy or Concord Mall, two other B malls in the Philly suburbs. On the other hand, Cumberland Mall and the mall in Hagerstown seem more filled, so PREIT does likely offer lower rents in outlying regions.

    As for Orange Theory at Moorestown Mall, I think it's more a boutique fitness center, so it likely wouldn't pursue more square footage.

    I went to Voorhees Town Center and long time tenant Victoria's Secret is closed. It would be surprising to say the least if Victoria's Secret stayed at Voorhees Town Center but closed in Exton. (We know it closed Exton recently). Also gone was Adventureland and Payless (as mentioned). I think Super China was gone for good as well, leaving only 3 eateries in the food court, with Saladworks operating at a reduced schedule. The Verizon franchise store was closed when I went (before 8pm) but it looked like it was just closed for the day. Only LensCrafters and Bath & Body Works remain in the mall as national tenants. It'd seem to be more sensible if B&BW moved to Eagle Plaza.

    Kind of dissapointing:
    JC Penney's Hamilton Mall location to close this summer
     
    #453 dontforget, Feb 28, 2019
    Last edited: Feb 28, 2019
  4. Nytecat

    Nytecat Well-Known Member

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    I’ve been preoccupied with Facebook lately for mall discussions but I do have a few things to mention here. It might have been mentioned before but just in case it hasn’t, South Jersey’s first Dave and Buster’s is coming to the Gloucester Premium Outlets. A blog named Freeway42 actually broke the news before it was officially announced. Dave and Buster's Approved For Gloucester Township - Images and Details

    But Deptford Mall said the Sears is being split between Dick’s Sporting Goods and an entertainment tenant. If D&B is out, that still leaves Round One and Main Event. Round One may not want another location this close to the Gallery. But the only Main Event in our region is by Christiana Mall so opening up at Deptford probably wouldn’t cause any conflict.
     
  5. dontforget

    dontforget Well-Known Member

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    Thanks for the update. I suppose that is good news for Gloucester Premium Outlets, and I suppose one could say Moorestown Mall lost also in not being able to attract Dave & Busters.

    I'm disappointed in the Deptford Sears redevelopment plan.

    I would have rather seen a upscale/destinational wing or lifestyle center, like the Lehigh Valley Mall:
    https://www.simon.com/mall/lehigh-valley-mall/map#/

    Dick's should have been considered part of a plan when JCPenney closes, not now. Perhaps Macerich figured Cherry Hill Mall is too close (although that didn't stop the Marlton Promenade), or Macerich doesn't like the demographics of the Deptford/Gloucester county area to attract upscale.

    Over at Moorestown, PREIT wants to add more pad sites on the mall parking lot (by the former macy's side)
    Plan calls for more stores in Moorestown Mall parking lot

    I suppose it's not a terrible idea as the parking lot is huge- although I'm still surprised PREIT hasn't procured tenants for the remaining part of the macy's building that doesn't face 38 and the Eastern Mountain Sports site. But perhaps there is more to come with residential (as hinted in articles).
     
    #455 dontforget, Mar 26, 2019
    Last edited: Mar 26, 2019
  6. Nytecat

    Nytecat Well-Known Member

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    Springfield Mall, which has weathered the retail apocalypse remarkably well so far, is in the midst of losing four stores. Crazy 8, Gymboree, Charlotte Rouse, and Hallmark are all closing. Of these, everything but Hallmark is closing do to company failures. That seems to speak to Springfield's viability as a mall, but it's small comfort as PREIT will still have to hustle to fill those spaces.

    On a non-mall note, I'm also bummed out by the apparent decline playing out on South Street. Several well known stores and bars have closed in recent years. I was stunned to see the Starbucks at 4th and South had closed (in late 2018). Not a huge loss as there's a Dunkin Donuts and some non-chain coffee shops. But then I learned that Jon's Bar and Grille, famous for its tribute to the birthplace of Larry Fine, has also gone out of business. As a fan of the Three Stooges, I always wanted to pay Jon's a visit but I never got around to it.
     
    #456 Nytecat, Apr 5, 2019
    Last edited: Apr 5, 2019
  7. dontforget

    dontforget Well-Known Member

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    Some Cherry Hill Mall news:
    Cherry Hill Mall plans changes for mystery tenant

    Hopefully it is worth it as the North Face is being boot from its current spot to accommodate this change.

    GAP also closed from Cherry Hill Mall awhile ago. It was basically a relocation from Cherry Hill Mall to Garden State Park even though GAP didn't announce it as such. Maybe less than a year of overlap and maybe abiding by lease issues though.

    Over at Moorestown and East Gate Square, I noticed that Chipotle is in process of opening East Gate Square Phase II area. Phase I area already has Moe's Southwest Grill.

    I've seen some very busy Chipotle sites (Old Dobbin Rd., Columbia MD is one), but I don't think the Moorestown mall one was that busy like those. Thus, I doubt it will keep both sites open as the two sites will be very close. So,
    a. I wonder if PREIT decided to not renew Chipotle in order to pursue redevelopment of that space. It is near the former Eastern Mountain Sports space. OR
    b. Chipotle decided to make the shift to save in rent costs. (It'd be ironic that MIchael's will move to the Moorestown mall from East Gate, while Chipotle does the opposite).

    It's also strange that East Gate Square lost Don Pablo's and rather than East Gate Sq. ownership or management trying to find another full service Mexican restaurant (such as Plaza Azteca) to fill in, the management is encouraging more fast casual Mexican restaurant business that will compete against it.

    Another point about the Deptford Mall Dick's news, the mall still has Modell's. Are there malls where both co-exist? I'd guess though Modell's will leave the mall at some point as it wants to be in big box, outdoor shopping centers anyways.
     
    #457 dontforget, Apr 5, 2019
    Last edited: Apr 5, 2019
  8. Nytecat

    Nytecat Well-Known Member

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    I can answer the last question easily. Dick’s and Modell’s have coexisted for at least a few years now at King of Prussia Mall. They’re also fairly close to each other as well in the West end.
     
  9. dontforget

    dontforget Well-Known Member

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    Forgot to mention but noticed a month or so ago, that Lord & Taylor has reduced its hours in some locations.

    In Moorestown, on Mondays, it will be open 11-7pm, Tues and Wed to 8pm. However, some weeks it has extended hours, with 'Friends & Family'. The 7pm Monday closure will be kind of early, especially during daylight savings time and since the rest of the mall is still open another two hours.
     
  10. Nytecat

    Nytecat Well-Known Member

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    We're still waiting for 9 of the 10 L&T closings announced last year to be revealed. Odds are Moorestown is one of the victims but we shall see.

    Another long time Granite Run Mall tenant has returned to the Promenade. Modell's latest ad in the Metro is touting this location. The funny thing is, I recall similar ads in early 2015 saying the GRM store was "still" open.

    On Youtube, Raw & Real Retail continues to post videos of area malls, with Quaker Bridge being their latest. Faded Commerce also has several Philly malls in the pipeline including Plymouth Meeting, Exton, and Oxford Valley.

    Oh, and PREIT announced that Yard House will be opening at Willow Grove. I used to think that was to close to KOP for another Yard House but apparently not.
     
    #460 Nytecat, Apr 11, 2019
    Last edited: Apr 11, 2019
  11. dontforget

    dontforget Well-Known Member

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    3 L&Ts already closed: flagship in Manhattan, Monmouth Mall and one in Oakbrook Center (Chicago). It does leave up to 7 more (from the announcement of 10) but I thought L&T would have closed more in the winter that just passed, if it was following through. Moorestown's viability certainly isn't solid though, but maybe benefited when the macy's adjacent to it closed that it gets some new business. Less direct competition next to it, but I just don't know how reduced hours will be competitive, since the Cherry Hill-Moorestown-Marlton suburbs have a lot of other stores, most open to about 9pm. Nordstrom on the higher end closes at 9:30pm, while Kohl's closes at 10pm.
     
    #461 dontforget, Apr 11, 2019
    Last edited: Apr 11, 2019
  12. Nytecat

    Nytecat Well-Known Member

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    Oh yeah. I somehow forgot about the Oakbrook store closing and I guess Monmouth slipped under my radar.

    Back to Yard House for a minute, I thought they also had plans for a Center City location. But maybe I got them mentally mixed up with Iron Hill Brewery.
     
  13. dontforget

    dontforget Well-Known Member

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    I'm still surprised that macy's hasn't pursued a site in Park City Center Mall in Lancaster. I think it would be in good position in negotiations, if both the Sears and Bon Ton sites have no lined up replacement, where Brookfield would be more desperate to fill one of them sooner than later.

    However, with a couple of subpar malls in our area, I wonder if macy's might consider closing and selling Exton Square and maybe Oxford Valley eventually, and maybe not necessarily for under performance. I think the general area of the Exton mall and OVM is nice in both cases, and wonder if the potential for something else is worth more than existing improvements of the mall.

    At Exton, it seems the gravity is that locals head to King of Prussia anyways, where macy's has both macy's and bloomingdales. macy's being a central most anchor at Exton though means the mall is too coupled to it.

    At OVM, there is Quakerbridge and Willow Grove not too far off, and maybe I'm crazy to expect them to reconsider Neshaminy again if it sold OVM. I suppose macys would have to be offered with a sweet deal in any of those cases.
     

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