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Discussion in 'Center City' started by Phillyurban8, Sep 23, 2015.
"You're washing vermicelli in an embassy den."
PREIT Chief Says New Fashion Outlets Mall is 70 percent committed | Philly.com
But no signed leases yet?
I already know the opening will be push back to Summer 18, so they got plenty of time to get things done...
Does anybody sign leases before a firm opening date is set? Another thing is that most chains who want to be in Center City are already there. How many retailers would consider Center City to be a two store market??
Uniqlo could easily be a two store Center City occupant. H&M is.
Shit, H&M can be a THREE store company in Philly...
H&M? Well, they're that one of a kind store. We're gonna need more like them or we'll have a lot of retail vacancies in Center City when all is said and done.
Yeah, plus we got plenty of store brands that haven't enter center city yet, two big ones that every mall must have is the Lego store and American Girl. Both of them are going to land somewhere in the Market East shopping district in the next three years.
Nike still needs a store here, and I can see Adidas coming back after leaving South Street...
and with the Movie Tavern like theater coming to most of the upper third floors, it not that hard to fill.
Hopefully you're right. Nationally, retail real estate is in a state of upheaval right now. Center City hasn't been as over-retailed as most of its peers which might translate into less of an adverse impact locally.
I've been to malls in different parts of the world (Japan, Singapore, Colombia, Morocco--they aren't so prevalent in Europe) and malls seem to have more than just stores in those countries. Movie theaters are quite common. Sometimes you'll even find an aquarium, I think that was in Morocco. And sections of the mall devoted to games such a those which you'd find in a Dave and Buster's.
I guess American malls need to evolve more, and perhaps this is something Philadelphia can achieve?
I could see an LA Fitness or another gym taking over a space on the upper floors. It's one of those types of business that will draw people up at all times of the day and help shops around it get foot traffic.
Already happening out in Plymouth Meeting, also own by PREIT, so it is possible.
If they can convince D&B to movie to Market St away from the River, that'd be a huge change.
If you wonder how big the billboards on the fashion outlets will be, wonder no more:
The white squares represent the placement of the future ads
^^^^Already an improvement!
I'm getting more and more excited for this. The building is scheduled to be completed in about a year - don't they need to have some tenant confirmations when they begin to start fitting stuff out in a few months?
East Market has one confirmed tenant and they are going to be open this year, so no, its not the end of the world if they don't share who is moving in anytime soon....
I wish Boscov's would open a store in Center City. They're much better than Macy's.
Probably not likely at this time. Boscov's is proceeding more cautiously following their back from the dead experience of several years ago. I imagine a lot could change, now that Jim Boscov has taken over from his late uncle, the legendary Al Boscov, but I can't see them taking a lot of risks at this point.
Honoring Albert Boscov: His rescue of bankrupt department store chain ranks as retailing fairy tale
You might remember this was a popular sentiment when the whole saga began ....more than a decade ago The Gallery Mega-Thread (#527)
(I'm not sure how old you are...maybe you weren't even born yet )
Anyway, the hope was for them to take the Strawbridge's space; that's largely gone, but I guess the whole rest of the mall is available.
I do know Boscov's is keenly aware of its lack of millenial appeal/market share and are looking at ways to get younger shoppers in the door.
Perhaps a simple way to do it would be to locate where college students and millenials, ya know, actually live...
From the article, written while Boscov was still alive:
The article was written four years ago. Looks like Boscov was right to take the odds.
Now, as londoner notes, the challenge is to refashion the store for a new generation of shoppers.
I'm sure they know where the Millennials are, but less how to appeal to them. Last time I was in one it looked more like a JCPenny than the kind of place Beats wearing kids far hipper than me would ever shop.
Macy's, Backstage Outlet store, would seem to be a good fit for the reborn Gallery, that said they quietly opened a Backstage within
the Northeast store a couple of week ago.
Their new CEO wants to place them within "less productive" Macy's locations as opposed to stand alone locations.
Macy's Backstage at Macy's Roosevelt - Outlet Stores, Fashion Deals - Philadelphia, PA
How Macy's new CEO plans to take on TJ Maxx
At the latest propaganda speech by Preit....oops I mean quarterly investor meeting they mentioned they are looking into adding a residential high-rise to the Gallery project(sorry I can't call it Fashion Outlets of Philadelphia because this will always be called the Gallery).
as seen in the last time they put out graphics:
When I was a kid, the Boscov's was where I went to get my OP and Coca-Cola gear. I haven't set foot in one in almost 30 years.
Late April update:
Gallery I atrium 4/29/17 by tehshadowbat, on Flickr
Gallery I interior 4/29/17 by tehshadowbat, on Flickr
1000 block of Market Street 4/29/17 by tehshadowbat, on Flickr
11th and Market Streets 4/29/17 by tehshadowbat, on Flickr
Gallery II interior 4/29/17 by tehshadowbat, on Flickr
Thanks for the update, I been meaning to get around there but been busy...
I predict this construction will never be finished.
I can't wait to be proven wrong.
Bye Bye Ticker scroll...
Amazon is eating the lunch of many retail chains. May be it's a blip, but for going on more than a year now, retail stores have been reporting lower sales and obviously lower profits and even losses.
Sports retailers have gone out of business or retrenched big time. Cabela's getting bought by Bass Pro. Finish Line retrenching. Dick's Sporting Goods retrenching. The owner of Eastern Mountain Sports (also owning Sports Chalet and Bob's) filing bankruptcy.
Macy's shuttering stores.
Gap/BR/Old Navy/Athleta... not doing so well, shutting stores because already have too many... going "multi-channel."
Ralph Lauren in trouble.
Michael Kors in trouble; Kate Spade just got bought out by Coach.
America is over-retailed and it seems more and more categories are getting killed by Amazon***. Only stuff growing is categories that can't be "Amazon'd"... paint stores and other home-deco places; dollar stores on the cheap end, and luxury brands on the high end such as Tiffany.
*** I should note that while America as a whole may be over-retailed, retailers have only recently "discovered" the young, growing, educated, and better-off demographics of Center City area after the last decadal Census and the related push by CCD to market the neighborhood and the city as a whole to national brands. That has already led to the rebirth of blocks of Chestnut St and Walnut east of Broad. Perhaps there is still more gasoline in the tank... But Philly better retain and grow that demographic...or else it'll be hard to get retailers to bite when they're shuttering stores and reducing headcount.
(even the banks are closing bank branches, going by the latest story in the Inky, albeit you would be hard pressed to know that going by the number of bank store fronts in Center City!)