Suburban Square Macy's (Springfield, King of Prussia, Plymouth: sales, apartment complex, hotel)

[marltonguy]

There was no dedicated thread, but any insight to the true reason why the Macy's store is closing? This location was with other A list tenants:

Suburban Square - Mall Directory

Are there other very close by Macy's stores that Macy's essentially wants to consolidate (to help Plymouth Meeting and Springfield maybe), or is this store too small? Or was Macy's squeezed out by higher rents?

[kyb01]

Originally Posted by marltonguy

There was no dedicated thread, but any insight to the true reason why the Macy's store is closing? This location was with other A list tenants:

Suburban Square - Mall Directory

Are there other very close by Macy's stores that Macy's essentially wants to consolidate (to help Plymouth Meeting and Springfield maybe), or is this store too small? Or was Macy's squeezed out by higher rents?

It may be a combination of the last two. Plus a lack of customers during week days.

[marltonguy]

I wonder if macy's would consider renovating to rebuilding out the Plymouth Meeting store? I haven't been there in one year but I used to walk in there alot. This could be a closer easy to use alternative to King of Prussia for people living near the Blue Route.

Many years ago, May Co/Strawbridge's tore down the former Wanamakers building in Moorestown Mall to rebuild from ground up a much more modern store.

With Plymouth Meeting, it's in a area with great demographics and central to highways, but the anchor (a former Strawbridge's) is a very old looking store. And not old in a meaningful positive way like a downtown store.

Of course, it will be debatable if building a new store helps draws new crowd, but malls are doing this with their own spaces to stay relevant.

[BPP1999]

Originally Posted by marltonguy

I wonder if macy's would consider renovating to rebuilding out the Plymouth Meeting store? I haven't been there in one year but I used to walk in there alot. This could be a closer easy to use alternative to King of Prussia for people living near the Blue Route.

Many years ago, May Co/Strawbridge's tore down the former Wanamakers building in Moorestown Mall to rebuild from ground up a much more modern store.

With Plymouth Meeting, it's in a area with great demographics and central to highways, but the anchor (a former Strawbridge's) is a very old looking store. And not old in a meaningful positive way like a downtown store.

Of course, it will be debatable if building a new store helps draws new crowd, but malls are doing this with their own spaces to stay relevant.

I've often thought that the Plymouth Meeting Mall should build some sort of residential component. There are already 2 other mid-rise residential complexes (9-10 stories) within 1/2 mile of the mall. Also, I believe the PennDot facility along the Turnpike (below Whole Foods) is being relocated to the toll plaza area which should free up some space. Of course there is a fair amount of highway noise on the mall property but I would think that if they carved out a few acres and put a 10-story apartment complex it would likely do well. The demographics and location could support more than what's on that property now. They certainly need to do some re-thinking as to the best utilization of that land. The free-standing restaurants they added do very well and so does Whole Foods.

[marltonguy]

Originally Posted by BPP1999

and put a 10-story apartment complex it would likely do well. The demographics and location could support more than what's on that property now. They certainly need to do some re-thinking as to the best utilization of that land. The free-standing restaurants they added do very well and so does Whole Foods.

I enjoy visiting that area and the restaurants and WF seem to be doing well, and there are so many choices.

The mall foodcourt is dead though. Maybe that can be demolished for space for something new like luxury apartments? The enclosed Chipotle but with an external entrance, and Chick Fil A in the upper level and other low cost fast food choices can still be accomodated without a foodcourt.

I agree also that it would be nice if there were more newer (luxury like) apartments in that area. And being near some activity like the mall is attractive also for people.

A hotel might also do well. Hotel room rates are generally higher in the Plymouth Meeting-King of Prussia area than in Mt. Laurel-Cherry Hill (South Jersey).

On the macy's, I went there just yesterday and it's fine for a store. There is still some 1970's like feel in that place. If anything department stores spaces are monolithic and it'd likely be capital intensive for macy's to rebuild. macy's maybe fine with its stores in the region led by King of Prussia, and looking just to boost it's online sales revenue anyways. Maybe some interior renovations can modernize the inside though.