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I've been plenty of times to the renovated Echelon Mall and can't help but think that the weekend traffic here is still light. How does this affect Macy's and Boscov's performance in the mall?
Boscov's has Deptford and Moorestown Mall basically around Voorhees, and Macy's as well with Cherry Hill as well. With Macy's recently deciding to shed Suburban Square, it might have no qualms shedding under performing, closely overlapping stores that are extraneous.
We only hear things when it gets bad when an anchor pulls out. In this case though, I'm sure PREIT will do anything and everything to make sure these anchors stay put even if it means protection so that Boscov's and Macy's are the only two stores there to sell apparel.
That brings a point: What about the rest of the mall? There are ample vacancies including a whole second floor. It doesn't seem like PREIT wants to fill up the mall with mom&pop stores like Burlington Center Mall's owners did, but wouldn't mom&pop stores being paying some rent unlike a whole level of empty stores where PREIT is getting no rent money?
Maybe apartments is the way to go but it becomes difficult with the mixed use design that is in place. PREIT will have a hard time trying to figure out what would go as a replacement if one anchor were to leave.
Last edited by marltonguy; 05-12-2015 at 12:17 AM..
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