Mall of Georgia is a complete and total unmitigated disaster (Buford: low income, sublease)

[ATLTJL]

I think you are falling for some scare tactics or got some misinformation. Gwinnett Place may have fallen into disrepair, but I assure you, gangs are not fighting for turf there. This isn't The Warriors.

[primaltech]

And it's not like the Pleasant Hill corridor or the Satellite corridor are in disrepair- they're both doing fine. And they're more interesting than they used to be, with all the international flair these days.

Gwinnett Place is actually my favorite area in Gwinnett. It has the most character, soul, and charm, in my eyes.

The problem is just the mall itself, and it's a problem that could be solved. Without resorting to demolishing it completely.

[jazzcat22]

Originally Posted by primaltech

And it's not like the Pleasant Hill corridor or the Satellite corridor are in disrepair- they're both doing fine. And they're more interesting than they used to be, with all the international flair these days.

Gwinnett Place is actually my favorite area in Gwinnett. It has the most character, soul, and charm, in my eyes.

The problem is just the mall itself, and it's a problem that could be solved. Without resorting to demolishing it completely.

I don't know if this will solve the problem, but if the contract goes through, looks like Gwinnett Place will be demolished and a cricket stadium will be built! Let's hope this won't be the boondoggle that the Gwinnett Braves/Stripers stadium is. But looks like there are several issues---Moonbeam doesn't own the entire property.



https://www.gwinnettdailypost.com/lo...19301c277.html

[Born 2 Roll]

In related news, the 'Retail Apocalypse' continues as over 4,300 store closures have been announced already within just the first two months of 2019:

A whopping 4,309 store closures were announced by retailers just in the first two months of this year, Coresight Research said in a research note on Friday. That's well ahead of the number of announcements the market research firm was tracking this same time a year ago, it said.

Even Tesla this week said it plans to move all its sales online and close showrooms .

Gap, Victoria's Secret and even Tesla: 4,300 store closures already announced this year (CNBC)

This news just further underscores the extremely challenging market conditions in which shopping centers (like the Mall of Georgia) and bricks-and-mortar retailers exist in 2019.

[beach43ofus]

Originally Posted by beach43ofus

Major Malls are dying all across America. Mall of Georgia will eventually become mixed use, but never return to rural or ag.

The Pleasant Hill Gwinnett Place Mall area is a crime ridden ugly mess. Gangs are fighting for turf, and I wouldnt go near there if you paid me.

I dont see that happening to M.O.G. or surrounds for 50+ years, but I'll never say never.

Malls take 48 hour beating with several store closures | Fortune

As I said...

[citidata18]

It seems Metro Atlanta may have been spared from this round of JCPenney closures.

While they're refusing to release a public list (for whatever reason), media outlets across the country have been comfirming whether or not their local JCP is closing, and I've heard/seen nothing out of our area.

[Born 2 Roll]

Originally Posted by citidata18

It seems Metro Atlanta may have been spared from this round of JCPenney closures.

While they're refusing to release a public list (for whatever reason), media outlets across the country have been comfirming whether or not their local JCP is closing, and I've heard/seen nothing out of our area.

Right now it seems that a retailer like JcPenney is just doing not much more than 'rearranging the deck chairs on the Titanic.'

JcPenney looks like it has comparatively significantly more financial resources on hand to continue to survive longer than Sears (a retailer that basically appears to be on its deathbed with its life support about to be cut off), but at this point that may not really be saying all that much anymore.

[ATLTJL]

Regardless of signs to the contrary. JC Penney remains profitable. It made $75 million last quarter. It's stock just saw a 27% boost.

https://www.cnn.com/2019/02/28/inves...ock/index.html

BestBuy, which was once thought to be doomed, saw its stock soar 16%.

https://www.cnn.com/2019/02/27/busin...ngs/index.html

While it's true retail is facing challenging times, it's far from dead. What we are seeing a shakeout that is trimming the fat and punishing retailers who are not doing their jobs well. Those who understand changing consumer demands and respond appropriately to them will thrive. The invisible hand, as always, hard at work.

Amazon can't kill retail. Only crummy retailers can do that.

[citidata18]

Originally Posted by ATLTJL

Regardless of signs to the contrary. JC Penney remains profitable. It made $75 million last quarter. It's stock just saw a 27% boost.

https://www.cnn.com/2019/02/28/inves...ock/index.html

BestBuy, which was once thought to be doomed, saw its stock soar 16%.

https://www.cnn.com/2019/02/27/busin...ngs/index.html

While it's true retail is facing challenging times, it's far from dead. What we are seeing a shakeout that is trimming the fat and punishing retailers who are not doing their jobs well. Those who understand changing consumer demands and respond appropriately to them will thrive. The invisible hand, as always, hard at work.

Amazon can't kill retail. Only crummy retailers can do that.

Don't be so sure about JCP's health.

JCPenney is about where Sears was 10 years ago (which was also "profitable"). While the below chart focuses on Neiman Marcus, JCP has its own debt bomb that will explode in the next 5 years.

https://www.zerohedge.com/s3/files/i...?itok=CrtJ56_Y

We have a name for these types of companies. They're called zombies.

[ATLTJL]

Yes, but unlike Sears, which completely failed to invest in its own stores, JC Penney seems at least partially invested in saving itself by improving its core business instead of playing financial games.