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With Sonny's, Texas Roadhouse, Rafferty's and Office Max all closed on that corner, it's a bit of a retail black hole there.
Interesting that the whole Carolina Pavilion area was nothing more than a bunch of bulldozers in 1995 and is now becoming a borderline viable area.
I wonder if the light rail had a negative impact on the two restaurants on that side of the street.
That's unfortunate. Sonny's was actually decent BBQ (for Charlotte), even though it was a chain. I was around that area a few months ago and it still looked decent. Now businesses are packing up and leaving by the droves. Hopefully the Nordstrom Rack brings some life back into it.
2011 will likely be a bad year for the commercial real estate market in Charlotte. Its unlikely with the economy in the shape its in that these shopping centers will be able to find new tenants.
Any idea why the mass wave of closings after the new year? The economy was supposedly worse from 2009 going into 2010 and I don't remember it being this bad last year.
I know from experience that the Big Box stores in that mall have their highest shrink (theft) exposure of any of their stores. When I was at BB&B, the thieves would run out with their loot, and hop on a train. No way to stop them. There are also organized shoplifting rings operating throughout that area as well. Whats sad is that they use their children to help them steal, which means their will be another generation waiting to take their place...
I know from experience that the Big Box stores in that mall have their highest shrink (theft) exposure of any of their stores. When I was at BB&B, the thieves would run out with their loot, and hop on a train. No way to stop them. There are also organized shoplifting rings operating throughout that area as well. Whats sad is that they use their children to help them steal, which means their will be another generation waiting to take their place...
I remember wistfully the days when that AMC theater was actually nice and a safe place to go.
The center itself has been a magnet for every big box chain that went out of business in the last 15 years. Waccamaw, Home Place, Circuit City, CompUSA, Best Products, Media Play, Goody's, Hollywood Video, MJ Designs, and Rhodes Furniture.
I think it may have something to do with the rent at these centers. If the rent is still pretty high and the profits are dwindling, if the landlord isn't willing to work with the tenants then they would likely close up shop.
I've heard this a few times. Eddies Place, O' Sheas, Delancy Street are all victims.
Wow...it seems like the economic tsunami is starting to hit hard. The bad thing is with all these closings, it will be difficult to find replacement tenants in this economic environment. Most of these places will probably sit vacant indefinitely.
Not really. If you dig deep down into the beggining of this thread, I made a point then, that is still relevant now, and will always be. Probably 95% of the closings listed in this thread are resturants. That's the nature of the restuarant business. Its like that in good times and bad. There are a ton of new resturants also opening up, and have opened up, since this thread was started. One would have to have been under a rock not to see them. But as is always the case, only a small percentage of them will make it. Again, that's just the business of hospitality. And as long as that's the focus of this thread it will go on, and on, and on. I'm not saying this thread is completely pointless, but people have to keep it in perspective.
I think it's all due to way-over saturation, and the final death nell of the "yuppie life" that started somewhere in the '80's, and is just adjusting back to reality now. The economy stinks now, that's true, but consumers are also getting smarter and more informed.
For example:
- What can they REALLY do to that steak to make that plate of dinner worth $50.00? Put some fancy "squiggly" lines of different kinds of sauces all over the plate?
- Why is one bottle of beer the cost of an entire six pack of the same brand at the grocery store?
- Why pay for "high-end", designer clothing, when it's still all now made overseas in the sweat shops anyway? Does anyone really know, or give a care, that you spent $300.00 on that sweater made in Bangladesh?
- That book for $25.00 at the fancy bookstore with the $6.00 coffees and $5.00 muffins? You can order one in used, good condition off the internet for about $10.00.
You know whose NOT hurting? Places with cheap groceries, cheap eats, and second hand stores.
As one whose had to struggle financially all of my adult life anyway, I guess I've always wondered how people can spend what they spend with seemingly not much thought about it. The downside is, if people are not overspending out there on new items, there's less good stuff for me to pick up for a song at the second hand store.
Most people who are GENUINELY wealthy don't waste their money foolishly. The rest are just not able to borrow the money to support their "live beyond your means/look rich even if you're not" lifestyles anymore.
montanamom.....I do understand your understanding about keeping things in perspective, when it comes to saving money....and doing what you have to do to survive a really crummy economy. Having grown up in the sixties in a very large family, we did learn the value of a dollar. Unfortunately, when you have a business...its not always about the owner borrowing monies to live beyond their means or looking rich, even when they are not. There "are" some owners that risk everything they have to keep their business open and their employees employeed. Even if the owners have a decent home...I am not talking about megamansions...they are thought by their employees, as being rich. As in my own case....they can't even see that we are driving around in ten year old cars, have depleted our savings, slowing losing our credit rating, and have totally used all the resources that we have had in the past. Yes, we have been foolish to think we can keep our business running...even though we have a lot of business coming in the door...we have bills beyond our means right now to keep it running. We don't want to close our business...because of our employees.......but, I guess we have to come to the conclusion that they will be able to bounce back much easier then we ever will...because they are the ones that have gotten weekly paychecks. It honestly makes me sick that they will have to deal with unemployment...because they have all been really good employees. Our business is our baby....and we just don't want to give up....so how do you keep on going...when you still have good business coming in the door. Anyone know?? Investors?? Ideas? We don't want to close the doors!!!
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