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Old 10-06-2020, 12:12 PM
 
1,924 posts, read 2,015,140 times
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Norwalk, Danbury, and Westfarms malls will be around in 5 years. Buckland Hills probably will be too. Everything else is on life support, so it's anyone's guess.

I think the desirability of the retail surrounding the mall makes a huge difference too. Ease of access also matters.

I am mostly a Westfarms shopper. I used to lean towards Danbury, but it's easier to do one stop shopping in Corbin's Corner. REI, Trader Joe's, Nordstrom Rack, Cost Plus, Nordstrom, and all the smaller more upscale mall stores on one main drag that isn't totally overwhelmed with traffic. Not to mention the proximity of both Target and Costco. Works well for me.
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Old 10-06-2020, 12:15 PM
 
Location: Central Connecticut
362 posts, read 770,985 times
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Quote:
Originally Posted by Stepfordct View Post

Blue Back Square is losing tenants monthly. It's surrounded by housing in a nice area.
I work in that area and from Day 1, the BBS company has been charging outrageous rates to their commercial tenants. Tenants doing a profitable business still can't cut it because of the rents.
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Old 10-06-2020, 01:14 PM
 
1,888 posts, read 1,158,741 times
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Quote:
Originally Posted by CTlibrarian View Post
I work in that area and from Day 1, the BBS company has been charging outrageous rates to their commercial tenants. Tenants doing a profitable business still can't cut it because of the rents.
You just described most every mall.
Also will add my friends that still own businesses at Trumbull and Milford malls are getting zero reduction in rent. Even expected to pay 100% rent while under govt order to be closed. His rent is 15k a month x 6 locations. Lost inventory too etc....

They needed to reinvent themselves many years ago.

Last edited by Stepfordct; 10-06-2020 at 01:24 PM..
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Old 10-06-2020, 01:20 PM
 
1,888 posts, read 1,158,741 times
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Originally Posted by BobNJ1960 View Post
They generate income for the mall. Like all malls, Milford's is in the weakest position I have ever seen it in, since it got past the outdoor stage of its earliest decades.

The mall has admitted there are no more Boscov's. Macy's entire chain is in awful shape, with many analysts not expecting them to make it. Rental rates for other stores nosedive if the mall loses Macy's, as of its 3 anchor locations, just one would be filled. In such a circumstance, surely Boscov's would opt out of its lease.
If they are smart the apts will be protected under a new corporation so if the mall fails completely the Apts are ok. So essentially it's a completely different biz unrelated to the mall at this point. The mall sold off some dead space not being used lowering the tax bill.
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Old 10-06-2020, 01:28 PM
 
1,888 posts, read 1,158,741 times
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Quote:
Originally Posted by hvexpatinct View Post
Norwalk, Danbury, and Westfarms malls will be around in 5 years. Buckland Hills probably will be too. Everything else is on life support, so it's anyone's guess.

I think the desirability of the retail surrounding the mall makes a huge difference too. Ease of access also matters.

I am mostly a Westfarms shopper. I used to lean towards Danbury, but it's easier to do one stop shopping in Corbin's Corner. REI, Trader Joe's, Nordstrom Rack, Cost Plus, Nordstrom, and all the smaller more upscale mall stores on one main drag that isn't totally overwhelmed with traffic. Not to mention the proximity of both Target and Costco. Works well for me.
Norwalk because it's so new is loaded with debt service. So every small business there in addition has huge loans to pay on top of rent. That's a tough road ahead.
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Old 10-06-2020, 02:12 PM
 
Location: Coastal Connecticut
21,471 posts, read 27,712,350 times
Reputation: 6659
Quote:
Originally Posted by hvexpatinct View Post
Norwalk, Danbury, and Westfarms malls will be around in 5 years. Buckland Hills probably will be too. Everything else is on life support, so it's anyone's guess.

I think the desirability of the retail surrounding the mall makes a huge difference too. Ease of access also matters.

I am mostly a Westfarms shopper. I used to lean towards Danbury, but it's easier to do one stop shopping in Corbin's Corner. REI, Trader Joe's, Nordstrom Rack, Cost Plus, Nordstrom, and all the smaller more upscale mall stores on one main drag that isn't totally overwhelmed with traffic. Not to mention the proximity of both Target and Costco. Works well for me.
I can't even think of a store I really need in the mall in Milford outside of Target. The movie theater is handy, in non-Covid times. Outside of that, there's really nothing. Sunglass Hut, maybe? Not a huge fan of the clothes stores, most are teen/women orientated. I clothes shop at Banana Republic in the Whole Foods plaza, or J Crew and Urban Outfitters in New Haven, or the outlets in Clinton, or online. Outside the mall on Route 1 there's an REI, Costco, Best Buy, Lowe's, Home Depot for all big box needs. Apple Store in New Haven. For anything else, I'll shop at a small local retailer to support small businesses, or online.
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Old 10-06-2020, 02:42 PM
 
1,924 posts, read 2,015,140 times
Reputation: 1839
Quote:
Originally Posted by Stepfordct View Post
Norwalk because it's so new is loaded with debt service. So every small business there in addition has huge loans to pay on top of rent. That's a tough road ahead.
I agree, but Nordstrom will keep it on life support for at least the next few years
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Old 10-06-2020, 08:26 PM
 
Location: Greenwich
514 posts, read 737,945 times
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I never knew the Trumbull mall where LA Fitness used to be a movie theater.
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Old 10-07-2020, 12:57 PM
 
Location: USA
6,572 posts, read 3,532,821 times
Reputation: 3373
Quote:
Originally Posted by Stepfordct View Post
Norwalk because it's so new is loaded with debt service. So every small business there in addition has huge loans to pay on top of rent. That's a tough road ahead.
You just described every new business everywhere.
The $800 shoe personnel ($400 per) will decide it's future. Who knows
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Old 10-07-2020, 02:07 PM
 
Location: Connecticut
2,486 posts, read 4,681,574 times
Reputation: 2543
I can only speak for up here, but believe me, WestFarms Mall has been and continues to be packed. Morning, noon and night, the parking lots are full. Might not be as crowded as it was before the pandemic, but that mall is doing just fine. Even on a beautiful, sunny day, when everyone should be outside, plenty of people are choosing instead to shop. Which is great news for retail, especially when COVID and Amazon have had such a crippling effect on them. Granted, some of the stores such as Lord & Taylor are closing, as are a few of the nearby big-box stores in nearby strip malls (such as Bed, Bath & Beyond), and I realize many retails are struggling to stay afloat. But collectively as a whole, that mall is doing fine.

Last edited by MikefromCT; 10-07-2020 at 02:24 PM..
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