Which will be the first Georgia City to lose their enclosed mall? (Macon: bankruptcy, tenants)

[lilmusket]

Originally Posted by g-man430

What other retail development opened that stole tenants from Augusta Mall? Augusta Mall killed Village at Riverwatch. That's why it's not getting built.

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I agree.. if the villages of Riverwatch was built first before AugustaMall got its lifestyle center.. then the mall would be in serious trouble. Losing the Macy's was a big blow.. but then Richs was converted into a macy's.. in any case the mall was out one major anchor.. the lifestyle center allowe dthen to completely redevelop where the empty former Macy's was and now it much better than before.. I agree that The Augusta mall Lifestyle center has effectively killed The Villages at Riverwatch.. there may be a Bass Pro shops built there... but they rest of the ambitous project looks very unlikely.
The problem with Macon Mall is its location.. its not exactly in the most desirous part of town.. especially with all of the growth being on the northside. It in many ways has the same problem as Regency Mall, poor location.

[NewtownMacon]

Originally Posted by lilmusket

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I agree.. if the villages of Riverwatch was built first before AugustaMall got its lifestyle center.. then the mall would be in serious trouble. Losing the Macy's was a big blow.. but then Richs was converted into a macy's.. in any case the mall was out one major anchor.. the lifestyle center allowe dthen to completely redevelop where the empty former Macy's was and now it much better than before.. I agree that The Augusta mall Lifestyle center has effectively killed The Villages at Riverwatch.. there may be a Bass Pro shops built there... but they rest of the ambitous project looks very unlikely.
The problem with Macon Mall is its location.. its not exactly in the most desirous part of town.. especially with all of the growth being on the northside. It in many ways has the same problem as Regency Mall, poor location.

But the big different is the Macon Mall is located near I-475 and between Eisenhower/US80 and Mercer/US 74 two major and very high traffic arteries running in and out Macon which runs parallel to the Mall.... as you can see below.. Honestly the area around the Mall is not that Bad.

[lilmusket]

Tis true that Macon Mall is located near a major interstate.. but like the Regency Mall, the area around it is not high growth and the demographics in that area tend to be more on the lower rungs of the socio-economic ladder. The only way I would see Macon Mall closing though was if a newer Mall opened on the northside of town.. regency Mall closed because it could never compete head on with Augusta Mall.

[g-man430]

Greenville Mall was located at the intersection of I-385 and I-85 in the heart of the city. It didn't make it thanks to Haywood Mall. Most of the mall has been demolished and it is now being replaced with this: Magnolia Park, Greenville, South Carolina Dillard's used to be where Costco is now.

[NewtownMacon]

Originally Posted by lilmusket

Tis true that Macon Mall is located near a major interstate.. but like the Regency Mall, the area around it is not high growth and the demographics in that area tend to be more on the lower rungs of the socio-economic ladder. The only way I would see Macon Mall closing though was if a newer Mall opened on the northside of town.. regency Mall closed because it could never compete head on with Augusta Mall.

Well to be honest Macon has a new 750,000 upscale open air mall which open in March of 2008.....The Shoppes at River Crossing..


www.TheShoppesatrivercrossing.com

The reason I think the Macon Mall can compete with River crossing because the new center targets more upscale shoppers with stores like coach and etc. Where the Macon targets a less upscale crowds........The difference with west Macon the area where the Macon mall is located targets more bargain shoppers there are alot of new development out there as well as new hotels and restaurants because of I-475 and its west of the Macon mall and I-75 to east of Mall. Mostly all the new developments in North Macon are upscale and targets a more upscale market.

[g-man430]

Notice Macon Mall didn't start dying until the Shoppes at River Crossing opened. Not a coincidence either. I've seen this happen in Augusta and Greenville. Macon Mall will be dead and gone by 2012.

[lilmusket]

Yeah.. but when malls tend to go towards downscale retailers, thats the beginning of the death spiral.. thats what happened to Regency. These downscale retailers attract an even less desirous crowd.. and this makes the mall less attractive to other more upscale tenants. It also degrades the rent for mall space... these downscale retailers typically cannot pay the hiogher rents that upscale retailers can.. it begins a vicious cycle.

[g-man430]

Just a few of the stores/restaurants that have closed at Macon Mall over the last several months:

Old Navy
B Dalton
Ann Taylor Loft
Dillards
Steve and Barry's
KB Toys
The Limited
Dream Fashions
FYE
The Limited
Lane Bryant
Carlyle &Co
Mori Luggage
Gap
Gap Kids
Eddie Bauer
Ruby Tuesday
Carlton Cards
Time Out Arcade
Man Alive
Starbucks

-The biggest problem is that the mall has a negative equity, which is valued at 80% less than it was 3 years ago. Any improvements would have to be paid for in cash. The bank that holds the note for the mall has already lost about 30 million dollars on it.

[NewtownMacon]

Originally Posted by g-man430

Notice Macon Mall didn't start dying until the Shoppes at River Crossing opened. Not a coincidence either. I've seen this happen in Augusta and Greenville. Macon Mall will be dead and gone by 2012.

NO the Macon Mall didn't start to show signs of failure until the economy took a turn for the worst because the shoppes at river Crossing open last year in March 2008 and Dillard just decided to leave the mall in December 2008 after the crisis of its company.... as well as with the other stores mostly which just recently left between Jan 2009 -now.

[g-man430]

Recession started in January 2008 NewtownMacon. Shoppes at River Crossing opened in March 2008. A double edged sword has gone into the heart of the Macon Mall. It's only a matter of time before the mall is doomed for good.