cute fuzzy bunny
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I had an interesting experience the other day.
We have an older mall not far from the house. Its a winery that about 30 years ago added on a bunch of contemporary (for the 70's) retail space. They put in a couple of restaurants and a bunch of pretty decent little stores. Kayak store, bike store, high end toy store, a little deli, hairdresser, nail salon, news...the usual stuff. All the stores seemed to do okay but it didnt look like they were really pulling in the dough. Mall is a little out of the way and there arent any major anchors.
We hadnt been there in about 8-9 months so we stopped by so Gabe could play in the toy store for a while and maybe pick up one or two things.
The mall was empty, except for the toy store which was in the process of moving. An absolute ghost town.
Turns out a developer bought the property a year and a half ago with the intent to build some high rise condos on the land and remodel and upscale the mall.
Obviously that isnt happening now. Then some guy drove his car through the middle of it in a Blues Brothers maneuver and stole the freestanding atm doing a lot of damage. The property was underinsured.
Then the new landlord raised all the rents, so half the stores went out of business and the other half moved to various empty low cost brand new retail locations in high traffic areas.
A case study example of how bad circumstance and bad decisions can meet to make a mess.
We have an older mall not far from the house. Its a winery that about 30 years ago added on a bunch of contemporary (for the 70's) retail space. They put in a couple of restaurants and a bunch of pretty decent little stores. Kayak store, bike store, high end toy store, a little deli, hairdresser, nail salon, news...the usual stuff. All the stores seemed to do okay but it didnt look like they were really pulling in the dough. Mall is a little out of the way and there arent any major anchors.
We hadnt been there in about 8-9 months so we stopped by so Gabe could play in the toy store for a while and maybe pick up one or two things.
The mall was empty, except for the toy store which was in the process of moving. An absolute ghost town.
Turns out a developer bought the property a year and a half ago with the intent to build some high rise condos on the land and remodel and upscale the mall.
Obviously that isnt happening now. Then some guy drove his car through the middle of it in a Blues Brothers maneuver and stole the freestanding atm doing a lot of damage. The property was underinsured.
Then the new landlord raised all the rents, so half the stores went out of business and the other half moved to various empty low cost brand new retail locations in high traffic areas.
A case study example of how bad circumstance and bad decisions can meet to make a mess.