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Old 01-13-2010, 06:44 PM
 
Location: Atlanta
119 posts, read 298,578 times
Reputation: 34

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Macon Mall under contract for sale to Minnesota company

Buyer plans to decrease retail space


Quote:
A Minnesota-based company has a contract to buy the Macon Mall out of foreclosure from the lender, and the buyer plans to decrease the size of the retail space by about 35 percent.

Continental Property Group, based in Wayzata, Minn., a suburb of Minneapolis, plans to purchased the 1.4 million square-foot mall according to Finance & Commerce, a business newspaper in Minnesota.

The owner and other contacts at Continental Property Group did not return phone calls today.

Continental plans to scale back the mall’s retail space, the paper reports.
The company plans to “mothball” about 500,000 square feet of the mall’s retail space, Continental Property owner Brad Hoyt said in the article.
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Old 01-14-2010, 04:37 AM
 
Location: Macon, GA
1,388 posts, read 2,255,904 times
Reputation: 1858
This is happening to malls nationwide as people are shifting their preference to outdoor shopping locations such as the Shoppes at River Crossing. I hope this company can make it work, but the history of malls is stacked against them.
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Old 06-16-2010, 08:23 AM
 
Location: Michigan
1 posts, read 1,667 times
Reputation: 10
Default All shopping centers are hurting because of economy

I read these postings about Macon Mall and wonder where people are getting their information. One: Macy's is still at Macon Mall and is doing well. Two: Dillard had two stores in the market, left Macon Mall, and is at the Shoppes of River Crossing, because it is the newest build. Three: It is a widespread situation. I received a photo on a mall in Minnesota and it looked more empty than Macon Mall. So, guys it is not Macon Mall. Lifestyle centers are not popular when it is hot outside. Watch your facts! Stores leaving Macon Mall are leaving middle markets. These retailers want you to drive to Atlanta. If all malls convert to outdoor centers that will be a mistake. Try to shop when you sweat. I personally don't want to buy clothing someone tried on after they walked in from 101 degree temperature.
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Old 06-20-2010, 07:27 PM
 
3,804 posts, read 6,171,306 times
Reputation: 3338
^Not a great place to be when its raining either. I'd much rather go to a mall any day. The only thing the "lifestyle center" has over a mall is better restaurants and big box bookstores.
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