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Old 01-06-2017, 09:17 AM
 
Location: Johnson City, TN
667 posts, read 821,004 times
Reputation: 449

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An outlet mall is being built at the Pinnacle which basically scuttles any chance of Fort Henry Mall going that route. I feel like the Pinnacle is going to severely impact Kingsport's sales tax revenue in the coming years. The trend is already noticeable and as more stores either move from Kingsport to Bristol or choose Bristol over Kingsport for a new location, this will continue.
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Old 01-07-2017, 01:04 PM
 
Location: Kingsport
182 posts, read 213,757 times
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To me one of the most interesting things is the retail sales trend and share of total retail sales while the competition between the cities plays out.
No argument that the Pinnacle has been a big boon to the Bristol region, but its share of the region's total retail sales hasn't growth all that much.
Johnson City continues to claim the largest share of total retail sales among the city and second only the the share for the rural areas.
Check out the trend charts from Steb Hipple's latest Tri-Cities retail sales tax analysis.

https://donfenley.com/2017/01/05/q3-...ept-kingsport/
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Old 01-07-2017, 01:42 PM
 
Location: Gray, TN
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I think the JC Sears will survive unless Sears closes everything or the Mall kicks them out. They have such a prime location.
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Old 01-07-2017, 01:51 PM
 
Location: Gray, TN
2,157 posts, read 3,950,117 times
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It seems to me that online shopping should not affect fashion as much as other retail, especially electronics. I do not buy clothes online; it's practically the only thing other than food that I don't buy online. I want to know how something fits, and I don't want to deal with returns.

My wife does buy a ton of stuff online from Old Navy, but that's because she tries everything on at home and returns 90% of it to the brick and mortar store. She doesn't like dragging the kids around the store or in the dressing rooms, but access to the brick and mortar is essential.
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Old 01-08-2017, 09:10 AM
 
Location: Sullivan County, Tennessee
486 posts, read 1,145,200 times
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When formerly successful and iconic companies collapse- the rot usually starts at the top. What happened with Coldwater Creek, Radio Shack and Circuit City which became on-line entities where no one shops? This is the Sear/K-Mart story: Why Sears is failing and closing stores - Business Insider

Game over..........
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Old 01-09-2017, 05:04 AM
 
Location: Kingsport
182 posts, read 213,757 times
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Quote:
Originally Posted by rccrain View Post
It seems to me that online shopping should not affect fashion as much as other retail, especially electronics. I do not buy clothes online; it's practically the only thing other than food that I don't buy online. I want to know how something fits, and I don't want to deal with returns.
According to BI clothing and accessories account for almost 30% of digital retail sales. It's also ranked as one of the fastest growing components.
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Old 01-09-2017, 12:49 PM
 
Location: Brooklyn, NY
6,696 posts, read 10,132,210 times
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Quote:
Originally Posted by Rangerred View Post
An outlet mall is being built at the Pinnacle which basically scuttles any chance of Fort Henry Mall going that route. I feel like the Pinnacle is going to severely impact Kingsport's sales tax revenue in the coming years. The trend is already noticeable and as more stores either move from Kingsport to Bristol or choose Bristol over Kingsport for a new location, this will continue.
Could be a challenge for Ft Henry Mall to go that route then. But, 10 - 15 years from now, The Pinnacle is going to suffer the same fate as the rest of dead and dying shopping centers/malls. For the present here and now, Bristol has hit the retail jackpot. But, moving forward, this type of shopping center development is not long-term sustainable.

Bristol should've tried to infill this development as well. So, yes, it's a red hot commodity here and now, but so was Ft Henry Mall, The Kingsport Pavilion and so many other big box shopping center developments built far away from center cities. Eventually, they die and the "hot spot" goes elsewhere. A downtown, in-city type of development would have been smart for Bristol with this.
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Old 01-09-2017, 01:44 PM
 
Location: Johnson City, TN
667 posts, read 821,004 times
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Quote:
Originally Posted by jjbradleynyc View Post
Could be a challenge for Ft Henry Mall to go that route then. But, 10 - 15 years from now, The Pinnacle is going to suffer the same fate as the rest of dead and dying shopping centers/malls. For the present here and now, Bristol has hit the retail jackpot. But, moving forward, this type of shopping center development is not long-term sustainable.

Bristol should've tried to infill this development as well. So, yes, it's a red hot commodity here and now, but so was Ft Henry Mall, The Kingsport Pavilion and so many other big box shopping center developments built far away from center cities. Eventually, they die and the "hot spot" goes elsewhere. A downtown, in-city type of development would have been smart for Bristol with this.
I think you are right about The Pinnacle and knowing some of the details of that development, the City of Bristol could be in serious trouble should that place fail in the next 10-15 years as they essentially "bought out" the developer through a TIF and PILOT agreement and have assumed the risk of this project's success. This is to the tune of nearly $30 million and only accounts for the development's first phase, not the proposed outlet mall which the City is also financing. Also, what many people aren't aware of is despite the increase in retail sales tax dollars for Bristol and Sullivan County, the real net increase has been negligible due to those tax dollars being diverted to pay for the incentives. Real returns probably won't be seen for close to 10 years.

Not to stray too far off topic but I just don't see Ft Henry Mall having success in the future as a retail development as long as The Pinnacle is just down the road but nor do I envision The Pinnacle enjoying long-term success. Sullivan County and the Kingsport/Bristol metro is not growing, has an aging population, and not particularly wealthy. The Johnson City metro is right next door and has better markers in terms of growth, age, and income. How can a retail development expect long-term success when you force many of your customers to drive from 30+ minutes away? It is not a sustainable model.
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Old 01-10-2017, 11:48 AM
 
Location: Kingsport
182 posts, read 213,757 times
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Quote:
Originally Posted by Rangerred View Post

Not to stray too far off topic but I just don't see Ft Henry Mall having success in the future as a retail development as long as The Pinnacle is just down the road but nor do I envision The Pinnacle enjoying long-term success. Sullivan County and the Kingsport/Bristol metro is not growing, has an aging population, and not particularly wealthy. The Johnson City metro is right next door and has better markers in terms of growth, age, and income. How can a retail development expect long-term success when you force many of your customers to drive from 30+ minutes away? It is not a sustainable model.
Of course the people who own it will make the decision, but considering how over-retailed the Tri-Cities has become and the steadily increased power of online retailing it would see the more prudent long-term solution would be some sort of repurposing rather than chasing declining retail market.
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Old 01-11-2017, 10:37 AM
 
Location: Seattle
6,514 posts, read 14,754,904 times
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Agreed. I'd advocate for turning a portion of the mall into assisted living, a portion into a mix of affordable and market rate apartments, and a portion into medical offices or other professional offices. Maybe keep a small amount of retail. This would require selective teardowns and a complete re-tooling of the interior architecture.

Not sure how feasible that is for Fort Henry.
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