JUST IN. Century III Mall to close. (Penn: sale, college)

[By~Tor]

Originally Posted by PeterRabbit

How do the rents run at Century III?

Well, I don't have access to exact figures, but I do know they're quite a bit higher than the surrounding strip malls.... which is a large part of why C-III started having troubles, to begin with.

If you'r a vendor looking to sell your product to the masses, would you rather be inside a mall that is off the main drag by a few thousand feet, or right ON the main drag, easily visible from the road, with a rent that's about half what the mall might charge???

Seems to be a no-brainer for me, man... high-visibility + low rent = better sales and a higher profit per unit sold.

I think that malls, in general, are going to have to start reevaluating how they attract business, not only in this current economic climate, but as a whole. Every decade or so, Americans' shopping tendencies change from one focus area to another... and right now, Wal-Mart's got something the malls don't..... "low prices".

People would support a discount-store mall, much like an ongoing flea market... sure, maybe the people traffic would be lighter during the week, but on weekends the mall would be bustling with the added traffic from people who are "in the know" about good deals to be had.

[Benzman66]

Originally Posted by PeterRabbit

How do the rents run at Century III?

I own a few retail stores in PA, was looking a few years back at CIII when it still was in pretty good shape traffic/condition wise. It was $22.00 per square foot plus CAM fees (common area maintenance), utilities, and any remodeling/facade work that you wanted done. Five year lease with option to renew. You had to adhere to their standards of appearance, etc (that is a given at any mall) and had to update/remodel every few years.

You also had to be open regular mall hours, including Sunday unless you had a hardship or else you were fined.

I am sure all the above has been relaxed since it is resembling a ghost town now, at least I would hope so.

[By~Tor]

Nope. Not a bit. The rules are still the rules.....

[MissShona]

Originally Posted by Benzman66

I own a few retail stores in PA, was looking a few years back at CIII when it still was in pretty good shape traffic/condition wise. It was $22.00 per square foot plus CAM fees (common area maintenance), utilities, and any remodeling/facade work that you wanted done. Five year lease with option to renew. You had to adhere to their standards of appearance, etc (that is a given at any mall) and had to update/remodel every few years.

You also had to be open regular mall hours, including Sunday unless you had a hardship or else you were fined.

I am sure all the above has been relaxed since it is resembling a ghost town now, at least I would hope so.

Chic-fil-A is not open on Sundays. The franchise may be rich enough to pay the fine though. Also I don't know if they are still there, since they opened a stand-alone restaurant down by DSW Shoes (I don't eat there)

[Benzman66]

Originally Posted by MissShona

Chic-fil-A is not open on Sundays. The franchise may be rich enough to pay the fine though. Also I don't know if they are still there, since they opened a stand-alone restaurant down by DSW Shoes (I don't eat there)

Correct! They are one business that always has an agreement with each leasing company before the lease is signed or they take a spot in a mall/strip center to stay closed Sundays.
That holds true for every Chic Fil A in the country as it is company policy. So if a mall really wants them, they have to agree to the clause.

They are one in the RARE few that can get it done. The only other ones who might get in the loophole is a doctor/dentist office/or professional type organization.

Chic Fil A is no longer in CIII at all.

[By~Tor]

Originally Posted by Benzman66

Chic Fil A is no longer in CIII at all.

Actually, just last October, Chick-Fil-A opened up a kiosk in the mall for a couple weeks, trying to gauge whether or not they wanted to come back in there.... the kiosk idea wasn't promoted well and all the food was shipped in from their store down on Rt 51, so it was pre-made and prepackaged.... who wants that for lunch???

The French Fry Factory in the mall, however, does a bang-up business, as does the Charlie's sammich shop....

[katrep]

[quote=Pitt Chick;6501096]That is 100% correct.

But I really don't consider C111 and the old Greengate in the same area; they have got to be at least 25 miles apart (45 to 50 minutes driving).

I grew up in Latrobe and lived in Greensburg for over 16 yrs. True, Greengate Mall was leveled but now there is so much more there with Wal-Mart and Sam's Club to Altmeyers, and a variety of shops and retail stores. As for Century III Mall, there is very little in the way of shopping. If Sears and Penneys move out, as they say, that mall will die for sure. Their Sears store does not even have a drapery dept; I had to travel to Monroeville and Greensburg but they did not have what I was looking for although I could probably order online what I needed. In my opinion, Wal-Mart has a monopoly on the retail market and has driven out the long-time retail stores and malls are dying all around us.

[shy chic]

I understand the trend towards outdoor shopping centers as opposed to malls,but while this might work well in states like Florida,Georgia,California,Texas (very little or no snow) does it work as well in states like PA or WV or OH which get obviously much colder winters and certainly higher snowfall? That's the part that doesn't make sense. If you're Christmas shopping in 20 degree weather do (you really want to go in and out of different stores(and outside each time you leave one store)?

[Beavercreek33]

Originally Posted by shy chic

I understand the trend towards outdoor shopping centers as opposed to malls,but while this might work well in states like Florida,Georgia,California,Texas (very little or no snow) does it work as well in states like PA or WV or OH which get obviously much colder winters and certainly higher snowfall? That's the part that doesn't make sense. If you're Christmas shopping in 20 degree weather do (you really want to go in and out of different stores(and outside each time you leave one store)?

I think the colder temps and snow add to the Christmas shopping feel. Now that is if it is not blistering cold and the wind chill is not a major factor.

The Greene (recently built here in the Dayton Metro) is very successful. And check out Easton in Columbus, also very nice. They are lifestyle centers that have taken over much of the shopping down south, and is moving into many areas around Indiana and Ohio. There is also Crocker Park and Legacy Village up in Cleveland.

(Dayton)
The Greene :: Shopping, Dining, Entertainment, Apartments in Dayton, Ohio

(Columbus)
Welcome to Easton Town Center in Columbus, Ohio

(Cleveland)
Crocker Park - It's All Happening Here

Legacy Village: Home

[Tallysmom]

Originally Posted by shy chic

I understand the trend towards outdoor shopping centers as opposed to malls,but while this might work well in states like Florida,Georgia,California,Texas (very little or no snow) does it work as well in states like PA or WV or OH which get obviously much colder winters and certainly higher snowfall? That's the part that doesn't make sense. If you're Christmas shopping in 20 degree weather do (you really want to go in and out of different stores(and outside each time you leave one store)?

I think the problem is more and more people are not shopping like they did in the 70's and 80's. Back then it was common to go to the mall in the morning and shop and browse, try on crazy clothes and show each other how awful they are, have lunch, and shop some more and then maybe go see a movie and get some dinner.

It was a day out.

So having a multitude of stores with different price points and different styles made perfect sense.

But shopping styles have changed. I don't know anyone that shops like that anymore. I go to one or two specific stores, get what I need and go home. I can't tell you how long it's been since I've been to a traditional mall. Years.

The last time I went to a traditional mall, I screwed up and parked in the exactly the wrong spot and had to walk to the other end I was amazed at the crap the mall sold. Stores that sold candles and candle accessories? Maybe one -- but TWO???? Then I got attacked by some kiosk ladies. Then I discovered my second most favorite store was GONE.

Not a good shopping experience.

I was relieved to find out my favorite store was closing and moving to a outdoor mall. Where I can find parking in very close proximity, walk in and get what I need and GO HOME.

You know -- there's this great horror show on called "What Not To Wear" -- they make some poor unsuspecting woman shop for two days and spend 5000 dollars... it's a nightmare that never ends.....

That's my feeling about shopping....