Is Chandler Mall the next Fiesta Mall? (Phoenix, Scottsdale: closing, per square foot)

[Ztonyg]

Originally Posted by autism360

Well commercial property near the Chandler mall is still fetchin big bucks

they paid a lot of dough so they could sell dough :}

That mall isn't close to being a "dead" mall. It's just malls in general have a few problems.

1.) It's not just Amazon. Many younger shoppers (in their 20s and 30s) have less disposable income and will shop at Target, Walmart, Goodwill, or consignment stores for clothes. This also eats a lot into the mall business.

2.) Mall retailers rarely have decent prices on their items, unless you catch them during a sale.

3.) There aren't really any "unique" shops / experiences at the Chandler mall.

[azriverfan.]

Originally Posted by Ztonyg

That mall isn't close to being a "dead" mall. It's just malls in general have a few problems.

1.) It's not just Amazon. Many younger shoppers (in their 20s and 30s) have less disposable income and will shop at Target, Walmart, Goodwill, or consignment stores for clothes. This also eats a lot into the mall business.

2.) Mall retailers rarely have decent prices on their items, unless you catch them during a sale.

3.) There aren't really any "unique" shops / experiences at the Chandler mall.

No one said it's dead. I said it's declining. There used to be unique shops and we lost them. That's the point I'm making. As a result of losing those stores, the mall lost a lot of it's adult shoppers whose intent were to purchase items not just to hang out like teenagers. William Senoma, Pottery Barn Kids, Gap Kids, White House Black Market, Harry and David, Stride Rite and Janie and Jack were all stores targeting adults and parents.

[azdr0710]

entire case studies of the rise and fall of the enclosed, weather-controlled shopping mall can be done....it's a significant part of US cultural history......we are a fickle bunch.....

here are some fun short videos.....



https://www.youtube.com/watch?v=hcWcspY59HM


https://www.youtube.com/watch?v=BBmvMpZCNJg

[Pink Jazz]

I wouldn't even call it declining. The sales per square foot as mentioned in a previous post is still a solid $657. Those are very good numbers. The national average is $341.

[Zippyman]

Originally Posted by Pink Jazz

I wouldn't even call it declining. The sales per square foot as mentioned in a previous post is still a solid $657. Those are very good numbers. The national average is $341.

Whatever the $$ per sq/foot is, I've pretty much completely disengaged from shopping malls - discretionary spending for clothing, gadgets, appliances, many of the staples we eat & even building materials like flooring, lights & toilets for the rental properties has shifted almost entirely to Costco.

Just looked up Costco's revenue per sq foot.. $1152.

https://seekingalpha.com/article/399...tion-sams-club

[belgirl]

Originally Posted by Pink Jazz

I wouldn't even call it declining. The sales per square foot as mentioned in a previous post is still a solid $657. Those are very good numbers. The national average is $341.

How would you know unless you knew what sales were 5-10 years ago? Just because its above the national average, doesn't mean it isn't declining.

[azriverfan.]

When Banana Republic is replaced by Sona Chandi, a local niche store selling Indian clothing, that is not a good sign. Sona Chandi was once located in a strip mall. Later, it was in a smaller location in the Chandler Mall and had to close. Nothing against Sona Chandi, I'm sure it's a wonderful store but it's not a flagship store with any kind of national recognition like Banana Republic. You are better off doing what you can to keep Banana Republic in place than raise leasing agreements to drive them out. I would be very surprised if Sona Chandi lasts. So it's instead of a stable lineup of stores, you are going to have a lot of one and dones and replaced with more of those. That's what happened at Fiesta.

[Pink Jazz]

Originally Posted by belgirl

How would you know unless you knew what sales were 5-10 years ago? Just because its above the national average, doesn't mean it isn't declining.

I noticed many have mentioned SanTan Village in this thread, however, sales per square foot for SanTan Village is actually lower at $522, probably because it is more seasonal as far as the amount of shoppers it gets, while Chandler Fashion Center is more consistent year-round.

[Minntoaz]

Originally Posted by Colt Cassidy

Seems to me that Amazon and all other online shopping is slowly killing off these bricks & mortar "malls".

yep it's slowly happening to all malls...

[DetroitN8V]

Originally Posted by Minntoaz

yep it's slowly happening to all malls...

Nope. Scottsdale Fashion square is planning a multi-million dollar expansion. See the link above. Kierland and the Scottsdale Quarter are booming as well.