Retail coming to Philadelphia (King of Prussia, Taylor: fit in, leasing, credit)

[RightonWalnut]

New West Elm coming to KOP. There is already one on Chestnut in Center City
West Elm Opening Its Second Philly-Area Location in May - Storecasting - Racked Philly

Looks like Bloomingdale's is in talks with PREIT too for space in the Gallery. They seem to be shopping around:

I hear that the Bloomingdale folks are interested in the Burlington Coat Factory location, which is on a year to year lease.

They've been here 4 times, the last time they brought their lawyers and design team with them.

PhillyChitChat.com

[avg12]

Bloomingdale's wants a different demographic than Gallery has to offer. Federated/Bloomingdale's even passed on CH Mall, likely because of not trusting the demographics of Cherry Hill/South Jersey at the time.

It had essentially the first right of refusal but didn't want to be involved of the redevelopment of the Strawbridge's site, but sold it to PREIT, who tore it down for Nordstrom, and now the mall has soared with Nordstrom there.

If PREIT could buy out that slummy side plaza next to CH Mall, the Plaza of Cherry Hill, it'd be an awesome way to extend the CH Mall and lure in Bloomingdale's as well. Who knows though as JCPenney might be selling it's real estate on the other side of the mall.

Since JCPenney is weak and needs cash, it should sell it's Quakerbridge Mall site to either Nordstrom or Bloomingdales.

In the PA suburbs, I'm surprised Boscov doesn't take the opportunity to re-open at Oxford Valley Mall. It'd be a 4 way department store rivalry again, but JCPenney might be the one to succumb this time.

[phillies2011]

Originally Posted by avg12

Bloomingdale's is a different demographic than Gallery. Federated/Bloomingdale's even passed on CH likely because of being suspect of the area.

It had essentially the first right of refusal but didn't want involved of the redevelopment of the Strawbridge's site, but sold it to PREIT, who tore it down for Nordstrom, and now the mall has soared with Nordstrom there.

If PREIT could buy out that slummy side plaza next to CH Mall, the Plaza of Cherry Hill, it'd be an awesome way to extend the CH Mall and lure in Bloomingdale's as well. Who knows though as JCPenney might be selling it's real estate on the other side of the mall.

I'd much rather see PREIT focus their attention to the gallery and try and lure bloomingdale's there. With a Bloomingdale's department store as an anchor the sky would be the limit for a redesigned gallery. Bloomingdale's certainly does NOT fit the current demographic of the gallery. but PREIT is no doubt intent on changing the type of demographic the gallery will serve, getting Bloomingdale's to sign would certainly be a huge step to making that happen.

[Marius Pontmercy]

Originally Posted by avg12

Bloomingdale's wants a different demographic than Gallery has to offer. Federated/Bloomingdale's even passed on CH Mall, likely because of not trusting the demographics of Cherry Hill/South Jersey at the time.

It had essentially the first right of refusal but didn't want to be involved of the redevelopment of the Strawbridge's site, but sold it to PREIT, who tore it down for Nordstrom, and now the mall has soared with Nordstrom there.

If PREIT could buy out that slummy side plaza next to CH Mall, the Plaza of Cherry Hill, it'd be an awesome way to extend the CH Mall and lure in Bloomingdale's as well. Who knows though as JCPenney might be selling it's real estate on the other side of the mall.

Since JCPenney is weak and needs cash, it should sell it's Quakerbridge Mall site to either Nordstrom or Bloomingdales.

In the PA suburbs, I'm surprised Boscov doesn't take the opportunity to re-open at Oxford Valley Mall. It'd be a 4 way department store rivalry again, but JCPenney might be the one to succumb this time.

It doesn't fit the demographic of The Gallery now. The Gallery was designed to be a regional shopping center. The demographic it has now is a result of the stores that are currently there. They need to change the retail offerings and spruce the place up if they want to target a different demographic of shoppers, but that demographic is already in place, its just a matter of convincing them to come to The Gallery.

[avg12]

I just don't see it. The most reasonable attempt is luring in Target. The center Kmart space could be redeveloped as just mall space and PREIT can try to fill suburbia mall store chains like Aeropostale, Pac Sun, American Eagle, etc. That itself would be a major step up.

If Bloomingdale's had reservations about Cherry Hill, even when it had a successful macy's (a pair of macy's between CH and Moorestown Mall just 4 miles apart) and stores like Banana Republic, Godiva, etc. in the CH mall, not too many years ago, I don't see how all of a sudden Bloomingdale's would be interested to go in a lower tier mall that closes at 7pm.

Federated itself abandoned the Gallery by not launching macy's there.

[Marius Pontmercy]

Originally Posted by avg12

I just don't see it. The most reasonable attempt is luring in Target. The center Kmart space could be redeveloped as just mall space for chains like Aeropostale, Pac Sun, American Eagle, etc.

If Bloomingdale's had reservations about Cherry Hill, even when it had a successful macy's (a pair of macy's between CH and Moorestown Mall just 4 miles apart) and stores like Banana Republic in the CH mall, not too many years ago, I don't see how all of a sudden Bloomingdale's would be interested to go in a lower tier mall that closes at 7pm.

They're not interested in The Gallery as it is now but who's to say PREIT won't totally remake that space? They may be trying to win Bloomingdales over by offering them those things. Also, CH Mall had those stores "not too many years ago" but what about now? Is there a perception that CH is not on an upswing for higher-end retail and Center City is? Don't look at things as they are now and make decisions assuming they'll be like that forever.

[RightonWalnut]

Originally Posted by avg12

I just don't see it. The most reasonable attempt is luring in Target. The center Kmart space could be redeveloped as just mall space and PREIT can try to fill suburbia mall store chains like Aeropostale, Pac Sun, American Eagle, etc. That itself would be a major step up.

If Bloomingdale's had reservations about Cherry Hill, even when it had a successful macy's (a pair of macy's between CH and Moorestown Mall just 4 miles apart) and stores like Banana Republic, Godiva, etc. in the CH mall, not too many years ago, I don't see how all of a sudden Bloomingdale's would be interested to go in a lower tier mall that closes at 7pm.

Federated itself abandoned the Gallery by not launching macy's there.

You have to look at the future of the Gallery. PREIT is going to completely redevelop the Gallery. They are looking for an anchor store to get things started and Bloomingdale's could be that store.

[cpomp]

I would be disappointed if a Bloomingdales ended up in the Gallery. It needs to be closer to Rittenhouse. I personally do not see that happening at all. Unless the gallery is torn down and rebuilt and the current clientele is turned away at the door then no, you dont go from Kmart/Burlington to Bloomingdales. Plus that whole area is seedy, not just the Gallery. That place is years away from any type of success IMO. And I dont want a Bloomingdales outlet..There are much better locations for a full department store in Philly.

I would love to see a Bloomingdales at Cherry Hill Mall though. that mall is turning into a smaller King of Prussia now with all of the new retail selection. Though Nordstrom is very nice, I bet federated would would have changed their mind if they saw how successful that mall currently is. If CH had Macys, Nordstrom, Bloomingdales anchoring, that would be awesome.

[asiandudeyo]

I agree with cpomp.
Atlantic Building is a more suitable location. Plus it is closer to Suit Supply. Who knows it will create another retail boom occupying some empty spots on Locust!

Anyway going back to the Gallery:
In my wishful thinking, I would love for Bloomies to be in the Gallery and see how it will transform the Gallery. However in reality the plan most likely will backfire where the store in the Gallery wont get that much profit and eventually Bloomies get a sour taste in their mouth and will never have another thought to set their foot in Philly.

But then, we don't know what's the plan behind the executive door of PREIT for the Gallery. Maybe they have already had small middle class retails signing contracts and just wait for that 'anchor store' to come. Maybe Bloomies realizes the mistakes they made with CH mall when PREIT offered them a spot, and they are ready to gamble this time with the Gallery. Who knows.

And now since PUMA store on Walnut is gone, prolly one of the stores on Summersm list can finally get that spot. Just please don't be Burton. It only appeals to certain demographics. Their merchandise is MUCH more specialized than similar stores of the same "genre", such as North Face. My selfish wish for a store on that spot will be: DESIGUAL.
But I am just hoping it won't be another empty space for years and years to come.

[RightonWalnut]

Originally Posted by asiandudeyo

And now since PUMA store on Walnut is gone, prolly one of the stores on Summersm list can finally get that spot. Just please don't be Burton. It only appeals to certain demographics. Their merchandise is MUCH more specialized than similar stores of the same "genre", such as North Face. My selfish wish for a store on that spot will be: DESIGUAL.
But I am just hoping it won't be another empty space for years and years to come.

I know Kate Spade, Michael Kors and White House Black Market where the top three stores actively trying to get space in Center City. Wonder if it will be one of them.