[JayCT]

Originally Posted by BobNJ1960

Enfield Mall tenants criticize town response.

https://www.ctpost.com/journalinquir...l-18282449.php

I saw this. The town has an obligation to maintain the health and safety of everyone. The condition of a portion of the mall certainly affected people’s health and safety. The town tried to keep it confidential but the owner wasn’t cooperating. That kind of forced the town to go public and threaten to close the mall down. You can’t blame them. There wasn’t a lot of choices. Jay

[wp169]

A mall in Newburgh, NY put a casino in a vacant space, it's called Resort World-Hudson Valley. I sent them an e-mail asking if the slot machines are video lottery terminals or slots with a Random Number Generator (preferred machines) like Mohegan Sun has, but I never received a reply.

[BobNJ1960]

Originally Posted by JayCT

I saw this. The town has an obligation to maintain the health and safety of everyone. The condition of a portion of the mall certainly affected people’s health and safety. The town tried to keep it confidential but the owner wasn’t cooperating. That kind of forced the town to go public and threaten to close the mall down. You can’t blame them. There wasn’t a lot of choices. Jay

The root problem is only an idiot would buy a Ct mall, to run it as retail, so what the town did, going public, is get rid of the mall faster.

The only exception would be to buy a Ct mall at fire sale prices. Then convert a big part of it to non retail uses, which should enable the seller to get a higher price per square foot. Similar to the PE pump and dump model when they acquire corps under-performing.

[JayCT]

Originally Posted by BobNJ1960

The root problem is only an idiot would buy a Ct mall, to run it as retail, so what the town did, going public, is get rid of the mall faster.

The only exception would be to buy a Ct mall at fire sale prices. Then convert a big part of it to non retail uses, which should enable the seller to get a higher price per square foot. Similar to the PE pump and dump model when they acquire corps under-performing.

I agree. You have to wonder what the Enfield mall new owners were thinking when they bought it. Don’t they see the opportunities available by diversifying the uses of the land beyond just retail. Other successful mall owners do. Even just adding much needed residential uses would certainly help turn the property around. Enfield has certainly been cooperative. Pretty sad the owners aren’t. Jay

[BobNJ1960]

Originally Posted by JayCT

I agree. You have to wonder what the Enfield mall new owners were thinking when they bought it. Don’t they see the opportunities available by diversifying the uses of the land beyond just retail. Other successful mall owners do. Even just adding much needed residential uses would certainly help turn the property around. Enfield has certainly been cooperative. Pretty sad the owners aren’t. Jay

I expect to start seeing PE turnaround firms buy malls cheap btw, to re-purpose them.

[BobNJ1960]

Jay,

I will post here, but if you want a separate thread, just say it. I know some chains in Ct are alarmed at rising lawlessness in retail in Ct. It's gone beyond simple shoplifting. Thank God, we are not close to west coast levels, but they (some upper mgmt I know past individual stores) are not thinking it's a given we do not get there. If that spreads to Ct, or more states, that will be the death of malls in many cases. In a very short span of time, unlike the drip drip of online has been in comparison regarding market share.

Do you think we'd be any less ineffective than Los Angeles, San Francisco, or Portland has been if we suffered the same incidents?

I don't. What we have seen in California should be creating a SWAT team response. If it ever occurs on our coast, same thing.

[JayCT]

Originally Posted by BobNJ1960

Jay,

I will post here, but if you want a separate thread, just say it. I know some chains in Ct are alarmed at rising lawlessness in retail in Ct. It's gone beyond simple shoplifting. Thank God, we are not close to west coast levels, but they (some upper mgmt I know past individual stores) are not thinking it's a given we do not get there. If that spreads to Ct, or more states, that will be the death of malls in many cases. In a very short span of time, unlike the drip drip of online has been in comparison regarding market share.

Do you think we'd be any less ineffective than Los Angeles, San Francisco, or Portland has been if we suffered the same incidents?

I don't. What we have seen in California should be creating a SWAT team response. If it ever occurs on our coast, same thing.

You bring up a good point though I’m not sure it would be restricted to malls. Free standing stores or stores in strip centers are more vulnerable to this kind of crime than a mall would. Fortunately I’ve not seen a lot of that here but it could be a factor in the future of brick and motar stores in general. Jay

[JayCT]

SeaQuest, the 17,000 square foot marine life venue in the Trumbull mall, is closing after four years. The venue has had a number of issues including a tax battle with the town and animal rights activists. That’s too bad. Jay

https://www.ctpost.com/news/article/...g-18299397.php

[BobNJ1960]

Originally Posted by JayCT

I saw this. The town has an obligation to maintain the health and safety of everyone. The condition of a portion of the mall certainly affected people’s health and safety. The town tried to keep it confidential but the owner wasn’t cooperating. That kind of forced the town to go public and threaten to close the mall down. You can’t blame them. There wasn’t a lot of choices. Jay

Post article on Enfield owner was interesting yesterday. They are clearly an undesirable ownership group. Great youtube videos also by a man who examines distressed malls throughout the Northeast.

At this stage, I simply hope the Target continues to do a decent business, but the mall itself, no doubt, will close soon IMO.

[JayCT]

Originally Posted by BobNJ1960

Post article on Enfield owner was interesting yesterday. They are clearly an undesirable ownership group. Great youtube videos also by a man who examines distressed malls throughout the Northeast.

At this stage, I simply hope the Target continues to do a decent business, but the mall itself, no doubt, will close soon IMO.

The scary part is they also own the Trumbull mall. I hope they don’t treat it like they are with Enfield. The potential of both malls is there. They just need someone with a little imagination and bucks to redevelop them. Jay