Taunton: Silver City Galleria will be losing JC Penney in April (Boston: 2015, houses)

[lrfox]

Originally Posted by MMS02760

The occupancy % is probably based on overall square footage. Given the anchors make up a large portion of the sf, it makes sense. The smaller individual stores in the inside of the mall usually do not have a lot of sf.

This. It's based on the percentage of total square footage occupied, not the number of storefronts occupied. A walk through the mall reveals what appears to be closer to 50% vacancy, but the anchors are occupied and fill most of the space in the building.

[CaseyB]

They may be including that Walmart in their percentage which is on the property but not part of the actual mall.

[MTQ3000]

Originally Posted by CaseyB

I find it hard to believe that Swansea has a 75% occupancy rate. Except for the anchors, that mall is pretty much vacant.

I agree with that 100%. It's only one or two anchor non-renewals from bankruptcy.

Mick

[9162]

Originally Posted by lrfox

Patriot Place even has some vacancy issues. They very carefully hide their vacant storefronts behind faux storefront facades. Pay close attention next time you walk through there, it's not exactly at capacity. I find it underwhelming each time I go. Like you said, if there's an event, forget about it. Even though they do offer 2 hour parking (not nearly enough time for dinner and a movie) for free during games and events, the traffic makes it not worth it. I think it's a unique shopping center, but it's certainly not particularly wonderful.

Introducing Patriot Place seemed odd to begin with, and kind of proves that when such plazas are built there may not be overwhelming concern for their success. It didn't make sense to build that much shopping in Foxboro when it was right next door to Emerald Square, with all the other stores along route 1 going towards Pawtucket. Patriot Place seemed to depend on Gillette Stadium traffic as it's primary draw.

[CaseyB]

Patriot Place is doing just fine. It's Emerald Square that I have doubts about. Different sort of patrons frequent each.

[lrfox]

Originally Posted by CaseyB

Patriot Place is doing just fine. It's Emerald Square that I have doubts about. Different sort of patrons frequent each.

Patriot Place has more vacant storefronts on the pedestrian mall stretch than it should. But I agree, I'm not too worried about it. The location at Gillette Stadium and the more unique brands (i.e. BassPro, Trader Joes, Patriots ProShop/The Hall, Toby Keith's, CBSscene, Showcase Live/Cinema DeLux, Skating Rink, etc.) than most malls which make it a destination as it is right now. Having a hotel (soon to be two) right on-site adds consistent traffic too. It could be better. I expect it to get better given the commitment from the ownership group and the room for growth. Many of the indoor malls in the region (including this thread's namesake) have trouble setting themselves apart as a unique destination in a region flooded with chain retail. Patriot Place doesn't have that problem.

[Dm84]

The problem with Patriot Place is the fact that I have to check the Gillette Stadium calendar every time I want to go there.

[knaapan]

Originally Posted by lrfox

Patriot Place has more vacant storefronts on the pedestrian mall stretch than it should. .

It its a recent thing, then I believe the vacant store fronts were due to stores vacated to build a hotel.

[Boston_Burbs]

I am enjoying seeing malls die a slow death. They represent a lot of things wrong with this country. Its like seeing Blockbuster go out of business after ruining so many local video stores. Sweet sweet tears.

I shop local or online, only go to malls to try things before I buy them online.

[Whatsnext75]

It seems like any mall that isn't 'high end' with high end stores is not doing well.