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Old 11-05-2008, 10:03 AM
 
1,687 posts, read 3,783,486 times
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Forever 21 is making an attempt to move into as many Mervyns locations as they can. They tried to get the entire chain with a low ball offer just before the closure announcement but now will cherry pick the best locations.

Macys is not the only rumor for the SLO site.
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Old 11-05-2008, 10:53 PM
Status: "get me out of the central coast!" (set 13 days ago)
 
Location: Pismo Beach, CA
3,889 posts, read 6,389,018 times
Reputation: 862
Quote:
Originally Posted by FresnoFacts View Post
Forever 21 is making an attempt to move into as many Mervyns locations as they can. They tried to get the entire chain with a low ball offer just before the closure announcement but now will cherry pick the best locations.

Macys is not the only rumor for the SLO site.
Hmm, that is very interesting information. There are many canidates for that location, and I can only wonder who the best canidate will be.

I would like to know the criteria the Forever 21 stores have....

Burlington Coat Factory, Dillards, Nordstrom Rack, Kohl's, TJ Max N More, Belks, movie theaters, Whole Foods are stores that have fitted into that size....but the theater and whole foods will not go in the center since ralphs is right there and the old theater in that center left many years ago. and the other stores want to build in areas with larger population. Kohl's I think is more likely to replace Gottschalks.

and, I believe Macy's is more likely to go in since they can adapt almost anywhere with a store 60,000sq. ft.+
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Old 11-05-2008, 11:20 PM
 
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Forever 21 has been doing smaller sites (originally about 7,000 sq ft, now about 15,000 to 25,000 sq ft) but is starting to go into even larger stores. They are now doing a 55,000 sq ft store in the upper floor of the old Lord and Taylor building at Flatiron Crossing in the Denver area. They have indicated a desire to do larger format stores in other areas too.

A lot of money people also think Kohls is the best bet to go into old Mervyns stores in cities that they haven't opened in yet. The one story size and format fits Kohls.
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Old 11-05-2008, 11:33 PM
Status: "get me out of the central coast!" (set 13 days ago)
 
Location: Pismo Beach, CA
3,889 posts, read 6,389,018 times
Reputation: 862
There is also the possibility of a furniture store going in. Although, Im not so sure how it would do in this economy. Forever 21's bigger stores seem to be going in larger population areas. If it came down to Macy's or Kohl's in SLO I think the developer and city would want Macy's. There is a Kohl's in Paso Robles, and a Kohl's in Santa Maria. And yet, there is only one Macy's around. And, I think Kohl's likes to have the smaller Kohl's in larger population areas and leave the larger Kohl's for smaller areas like the Paso store.

Kohl's had plans for a larger store in the Marketplace project, and then plans for a smaller store next to Costco. I am not sure why Kohl's decided to pull out of the Prefumo Creek Commons project. It could have been that the developer wanted Target there more. But, if Kohl's wanted a bigger store in that spot I am sure they could have gotten that.
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Old 11-06-2008, 01:00 PM
Status: "get me out of the central coast!" (set 13 days ago)
 
Location: Pismo Beach, CA
3,889 posts, read 6,389,018 times
Reputation: 862
has anyone heard anything more about forever 21 replacing some mervyn's locations?
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Old 11-06-2008, 04:51 PM
 
1,687 posts, read 3,783,486 times
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Below is a link to Macerich's conference call discussing their financial earnings with stock analysts. Macerich is a major shopping center company including locations

Macerich bought 41 Mervyn's last December then leased them back to the retailer.

This is what Macerich's CEO said this week in the call about the Mervyns spaces:
Quote:
Christine McElroy - Banc of America:
Okay and then just lastly on Mervyn’s, can you comment on what types of retailers or what retailers specifically you’re looking to take over in that space and the two thirds that you said you have interest on.
Art Coppola:
Sure. Kohl’s has got a very high level of interest in some of the spaces, there are sporting good operators that have shown interest and then there are other retailer that have shown interest in taking over stores, some of which are really kind of new to market in terms of size, but we are very pleased with the level of activity and interest that we see in these stores.
You have to remember, this is interest that is being expressed while the retailer landscape in general is at the weakest moment, but it’s been out in many years, so again that’s testimony to the strength of the real estate that Mervyn’s is located within at the centers as well as the centers where we entered into sale lease back. I would say in most cases it’s going to be a national chain.
Christine McElroy - Banc of America:
And those 40 stores that will probably be acquired by a major retailer or is that forever 21.
Art Coppola:
That’s the one that’s working on 40 stores, yes.
Macerich Co. Q3 2008 Earnings Call Transcript - Seeking Alpha
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Old 11-06-2008, 10:00 PM
Status: "get me out of the central coast!" (set 13 days ago)
 
Location: Pismo Beach, CA
3,889 posts, read 6,389,018 times
Reputation: 862
Hmm, well I guess it is very possible that Forever 21, REI, and Kohl's could also replace Mervyn's. I personally would like to see Macy's.

in order of my choices:
1)MACY*S
2)REI
3)KOHL'S
4)forever 21

BTW, Fresno Facts, since u seem to be up on all this. And I value your opinion greatly. What is is your say on Napa getting a Costco? It seems like a good amount of development is happening in that part of the Bay area. So I wonder when the economy is better if they might build a Costco there. I know they have called off plans to build Costcos in many areas, but I think Napa may still have plans.

and i was only considering Madonna Plaza a mall if it got two department stores since the Sequoia Mall just has Sears. right now I think Madonna Plaza is just a power center that resembles a mall (since it used to be a mall).
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