Macy's at Landmark closing; death knell for Landmark Mall? (Lynchburg: apartments, home)

[ZeroiaSD]

Originally Posted by whiskeytangofoxtrotalpha

Malls have declined since the invention of internet and amazon, brick and mortar are exspensive and are having a hard time competing with online pricing.

Yes and no. Low-end malls have suffered, higher end malls have surprisingly flourished in the last few years. (Read a few articles about it)

Tysons is obviously flourishing, Pentagon City has stayed in good shape, and I think the new Springfield is doing fine.

[Ranman84]

With web shopping and discount stores, department stores are on the way out. Sad as I like personally looking at things I want to buy and enjoy getting out every now and then. I bet the Tyson's II Macy's will be next as they have the other one in Tyson's I. And the clientele at Tyson's II are not there for Macy's....too much $$$$. I miss the big stores that used to be in the District....Garfinkles and Woodwards. Beautiful building and old style shopping.

[spencgr]

"Final piece of the puzzle" according to developer.

Here's what the redeveloped Landmark Mall will look like | WTOP

[boyd888]

Originally Posted by spencgr

"Final piece of the puzzle" according to developer.

Here's what the redeveloped Landmark Mall will look like | WTOP

Well other than the Sears that they will definitely also acquire at some point in the near future. I love the vague language like "we will continue to evaluate the market" from the Sears rep. The developer is also tight lipped regarding Sears too. Sears as a company is on borrowed time...how much business is a Sears at a mall that will be closed for many months going to do? C'mon.

You can only build so much at once so I assume the Sears' land will be a 'Phase 2' thing.

[leighland]

" (Anchor Store Closures like Sears and Macys).. often triggers "co-tenancy clauses" that allow the remaining mall tenants to exercise their right to terminate their leases or renegotiate the terms, typically with a period of lower rents, until another retailer moves into the vacant anchor space."


[url=http://www.businessinsider.com/stores-closing-macys-kohls-walmart-sears-2016-12]A giant wave of store closures is about to hit the US - Business Insider[/url]




also for fun [url=http://deadmalls.com/]DeadMalls.com[/url]

[SmoothGuy]

Originally Posted by Ranman84

With web shopping and discount stores, department stores are on the way out. Sad as I like personally looking at things I want to buy and enjoy getting out every now and then. I bet the Tyson's II Macy's will be next as they have the other one in Tyson's I. And the clientele at Tyson's II are not there for Macy's....too much $$$$. I miss the big stores that used to be in the District....Garfinkles and Woodwards. Beautiful building and old style shopping.

Yes, Macy's is selling it's property at Tyson's Galleria. I was hoping that a dept store, new to the area (Barney's New York or Bergdorf) would take it's place, but it looks like the owner of the mall will use that space for redevelopment.

http://www.bizjournals.com/washingto...er-macy-s.html

[gomason]

I really dont understand all these malls coverting to outdoor shopping centers. This is freaking DC where we have 10 degree days and get two foot blizzards. Can someone send the memo to the developers. This isn't California.

I think its just over saturation in the age of Amazon. Tysons, Pentagon City, and Fair Oaks will be fine but these low end ones are going to struggle. Even after the rennovation, Springfield Town Center's sales have been mediocre.

[tgbwc]

Originally Posted by gomason

I really dont understand all these malls coverting to outdoor shopping centers. This is freaking DC where we have 10 degree days and get two foot blizzards. Can someone send the memo to the developers. This isn't California.

I think its just over saturation in the age of Amazon. Tysons, Pentagon City, and Fair Oaks will be fine but these low end ones are going to struggle. Even after the rennovation, Springfield Town Center's sales have been mediocre.

I think of STC as being Springfield Mall but just with new paint, restaurants and Dick's Sporting Goods. The EV charging stations are nice.

[The Dissenter]

Originally Posted by tgbwc

I think of STC as being Springfield Mall but just with new paint, restaurants and Dick's Sporting Goods. The EV charging stations are nice.

People balked at my theory that STC would be back in the same predicament from pre-renovation within 5 years. I thought and will always think STC is Springfield Mall with lipstick on.

[boyd888]

Originally Posted by gomason

I really dont understand all these malls coverting to outdoor shopping centers. This is freaking DC where we have 10 degree days and get two foot blizzards. Can someone send the memo to the developers. This isn't California.

Go walk through Mosaic District after 6pm any day of the week and see how busy it is...that's why developers want their land to turn into that. That area was an industrial wasteland ten years ago and now it is bringing in all kinds of money for the owners.

Springfield Mall is just a redesigned mall - there's no housing, no outdoor relaxing space, etc. Malls in general are dying, but I think the restaurants on the outside rim are doing just fine.