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Old 10-29-2015, 12:22 PM
 
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Quote:
Originally Posted by Leps12 View Post
Made some edits in my post to add a little more and clear things up.

Anyway, I really wouldn't count on another Whole Foods. No way. The Cherry Hill store may end up closing. I know someone who works there, and they are already downsizing and letting positions go.

As I clarified in my edit, Voorhees is not a terrible place. It's solidly upper middle class. But there will be no Whole Foods there, nor a Wegman's (although I would pin that as more likely). Again, location is key, at least in particular for the VTC site. Wegman's sets up, like successful malls do, along major highways.
Not to get too sidetracked with Whole Foods, but it's true they are letting staff go at stores. But they may grow with smaller stores needing less staff. IMO, it doesn't need all the gourmet hot bar aisles at every store and staff preparing as much food in store. Nonetheless, they are opening in Exton PA and they do like mall sites. They plan on opening 365, a paired down version of a regular store, in some areas.

Wegmans has opened in Montgomery Mall in PA at a former Boscov's site. If I was running the Voorhees center, I would court these two stores, whether or not they decide to agree.

Last edited by marltonguy; 10-29-2015 at 12:31 PM..
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Old 10-29-2015, 12:30 PM
 
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Originally Posted by marltonguy View Post
Disagree here. If Boscov's is doing fine making sales, and employing people, attracting customers - no need to demolish it. Also no need to demolish the brand new restaurant sites and apartments that were just built, or the outdoor off parcels. All these establishments have leases that protect them as well.

Pretty much, the solution would be to demolish the dead part, which I presume will be centered around the Macy's building. The foodcourt seems to be doing well. I'd be quite surprised if they demolished the enclosed center of the mall which is weak, nonetheless. They plan on building offices upstairs. The new management might try to fill the mall better but with mom&pop stores.
The question is though: Does Boscov's drive enough revenue to make the mall profitable overall? If Macy's closes, the mall loses a ton of revenue and what's left is probably chump change. They already demolished part of the mall to make way for the outdoors part. If you then demolish Macy's as well, you are left with a skeleton. You might as well fully commit.
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Old 10-29-2015, 12:32 PM
 
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Quote:
Originally Posted by Leps12 View Post
The question is though: Does Boscov's drive enough revenue to make the mall profitable overall? If Macy's closes, the mall loses a ton of revenue and what's left is probably chump change. They already demolished part of the mall to make way for the outdoors part. If you then demolish Macy's as well, you are left with a skeleton. You might as well fully commit.
It's up to Boscov's really then if it doesn't want to be there. If it's traffic begins to decline with the loss of Macy's, it might not want to keep that store open. The mall owners likely won't want Boscov's out. Boscov's would have a niche in some sense, but it does also have stores in Moorestown and Deptford, so the store isn't strategically necessary.

I've been to some small rural malls, where Boscov's seems to be able to make it work, even without a Macy's, JCPenney or Sears around.

I am a Boscov's fan. I think they have competitive pricing often, but that's my take. The local area might also still value them to shop there.
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Old 10-29-2015, 01:48 PM
 
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I went to the VTC last December, for the first time in many years. I found it difficult to get in and out of from the main roads, and getting around on the interior roads of the center and the parking lots was slow and byzantine. I won't be going back there any time soon.

As for WF in Cherry Hill, I thought that was a dumb move from the get-go. Store is small, insufficient parking, very few points of entrance and exit from the Ellisburg Center, etc. If I am going to WF, I go to the Route 73 store in Marlton. Not that I go there many times a year, due to the fact that Trader Joe's has much of the same stuff, only cheaper.
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Old 10-29-2015, 02:03 PM
 
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Originally Posted by LoriNJ View Post

As for WF in Cherry Hill, I thought that was a dumb move from the get-go. Store is small, insufficient parking, very few points of entrance and exit from the Ellisburg Center, etc. If I am going to WF, I go to the Route 73 store in Marlton. Not that I go there many times a year, due to the fact that Trader Joe's has much of the same stuff, only cheaper.
The Cherry Hill Whole Foods is quite large and larger than the Marlton Trader Joes.

Maybe I'm just very familiar with the Ellisburg Center traffic pattern. I find the plaza very central, and convenient to get in and out of. It's also not parking constrained and highway visible off 70 and 41. The plaza has filled to full occupancy since Whole Foods has entered.

Getting back to VTC:
Voorhees Town Center has a poor location. I am surprised about the sale of the mall.

Did the new owners know the Macy's anchor would close or did PREIT find out, sell the mall before disclosure? The new owners might have to buy the Macy's building if they want to redevelop.
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Old 10-29-2015, 03:34 PM
 
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Quote:
Originally Posted by marltonguy View Post
Did the new owners know the Macy's anchor would close or did PREIT find out, sell the mall before disclosure? The new owners might have to buy the Macy's building if they want to redevelop.
If PREIT knew Macy's was closing and did not disclose that to whoever the sucker is that they sold to, isn't that a violation of business law and can't they be sued or have their deal reneged as a result?
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Old 10-30-2015, 07:32 AM
 
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Originally Posted by Leps12 View Post
If PREIT knew Macy's was closing and did not disclose that to whoever the sucker is that they sold to, isn't that a violation of business law and can't they be sued or have their deal reneged as a result?
That's what I was thinking too. It being unofficial (and not specified for certain that it's Macy's) leaves me with more questions.

I'm sure we will find out soon. Many retailers close sites right after the Holiday season.
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Old 10-30-2015, 12:09 PM
 
Location: The place where the road & the sky collide
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Planting Whole Foods in Ellisburg Shopping Center was weird, at best. Every supermarket that has ever been in that site has drawn, heavily, from retired residents.
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Old 10-31-2015, 10:21 AM
 
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Originally Posted by NJhighlands87 View Post
Isn't the point of a town center that it's supposed to be dense? Too few people and too little foot traffic can kill retail in a pedestrian area. Malls are in decline in many regions, South Jersey in particular (see the Burlington Mall...). Adding a Wegman's isn't going fix the problem; people's long-term habits towards living and shopping are changing and won't support as many malls in the future.
Actually I think adding Wegmans can do a lot, it was a major factor in the turnaround of Hunt Valley MD for example. But, I believe that involved some demolition of the mall, and in relation to some of the other issues with Voorhees mentioned, it was near a highway and public transportation is adjacent, so who knows if Wegmans would actually go to Voorhees Town Center.
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Old 10-31-2015, 01:06 PM
 
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Originally Posted by GoPhils View Post
Actually I think adding Wegmans can do a lot, it was a major factor in the turnaround of Hunt Valley MD for example. But, I believe that involved some demolition of the mall, and in relation to some of the other issues with Voorhees mentioned, it was near a highway and public transportation is adjacent, so who knows if Wegmans would actually go to Voorhees Town Center.
They wouldn't. I don't know why we are even having this discussion.
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