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America’s malls seek a life beyond retail
The Financial Times ^ | February 8, 2013 | Barney Jopson in New York

Posted on 02/09/2013 7:54:56 PM PST by 2ndDivisionVet

The winter sunlight barely touches the depths of the abandoned store, where wires dangle from the ceiling, wood shavings scatter the floor, a King Lear shelf marker lies on the stairs, and a Led Zeppelin poster hangs spurned in a rack.

The standalone building in Danbury, Connecticut, still bears the name of the Borders book chain that collapsed in 2011, and strewn on its cash register are fire-sale price lists for its fixtures and fittings. But nobody wanted them either.

Instead its 8ft book cases stand bare and upright in the gloom, like the ruins of a bygone age. In a country that built its towns around consumerism, it is an eerie preview of the future for acres of retail property that Americans no longer need.

The ranks of bricks-and-mortar shoppers have thinned since the financial crisis as a weak economy and the rise of ecommerce have made the dated interiors and badly chosen locations of many stores even less attractive.

“The reality is we’re over-built,” says Gerry Mason, executive managing director at property group Savills, who predicts that about 15 per cent of the US’s 1,300 biggest enclosed malls will go out of business over the next five years.

Real estate agents say that even properties with a future cannot build it on retail alone: services such as dry cleaners, nail salons and sports clubs are likely to occupy many former shops as the face of America’s built environment is redrawn...

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Society
KEYWORDS: bhoeconomy; connecticut; economy; jcpenney; michigan; northdakota; obama; retail; shopping

1 posted on 02/09/2013 7:55:07 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet

Roving bands of yutes tend to dampen shoppers feelings.


2 posted on 02/09/2013 8:05:49 PM PST by BBell (And Now for Something Completely Different)
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To: BBell

A local retailer who is going out of business told me her conservative shoppers all cut back after the ‘08 election. She said however, the EBT crowd was spending like there’s no tomorrow. Bottom line, the smart people are holding their money close, preparing for a rainy day. The parasites think the gravy train will last forever. Rude awakening coming.........


3 posted on 02/09/2013 8:12:45 PM PST by Josa
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To: BBell

In Annapolis, we have 3 malls within 20 minutes of each other. It is rather crazy. I predict one will close in the next ten years and most likely that will be Marley Station which is old and dumpy. I know that Arundel Mall with new casino and Annapolis Mall (for the rich and affluent) will stay open.


4 posted on 02/09/2013 8:33:45 PM PST by napscoordinator (/)
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To: 2ndDivisionVet
Anyone that doesnt wish to be involved in 'youth' violence knows to stay away from the mall here on weekends and nights.
AND watch their back traveling thru the parking lot to their car.
5 posted on 02/09/2013 8:38:18 PM PST by 45semi (A police state is always preceded by a nanny state...)
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To: 2ndDivisionVet
America’s malls seek a life beyond retail

The life after retail is called the village.

Why drive / park when you can walk from your home to your cafe-barber-gallery-cleaner-hotel-convenience store etc.

Save the car for bulk purchases at Walmart-Sams-Costco-Lowes.

Most everything else can be had on-line.

Welcome to the 21st Century.

6 posted on 02/09/2013 8:54:52 PM PST by cicero2k
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To: napscoordinator

Arundel Mills Mall is usually very hectic with activity. Even in the depths of the 2008 recession, that area, home to many federal workers, was immune to the downturn. It’s kind of a weird place, set in an affluent suburb, where the gilded Mandarins of the middle bureaucracy mix with the occasional pack of feral youth from nearby Baltimore.
I am sure some bad things happen there from time to time, but I have survived several outings there without a scratch. CCW would be very useful in those environs, but the Kingdom of Maryland does not allow its subjects to have the means to protect themselves.


7 posted on 02/09/2013 8:56:26 PM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: 3Fingas

Since you are in Maryland, you may recall how Landover Mall went downhill and was eventually torn down. The politically incorrect, unspoken version of what happened, is that packs of feral youth scared off shoppers. The politically correct version is that the Lerner Company did not maintain adequate security, or work hard enough to keep upscale stores in the mall.


8 posted on 02/09/2013 9:54:12 PM PST by Dilbert San Diego
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To: 2ndDivisionVet

Summer of Recovery IV or V is it now? - Come on, MSM, tell us some more of those lies.


9 posted on 02/09/2013 10:03:07 PM PST by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: Dilbert San Diego

I am not currently in Maryland...thank God. I live in the great state of Texas. However, I have been on trips to the Kingdom of Maryland on a couple of occasions.

Yes, I remember that Landover Mall was like the badlands of post-apocalyse. So, I assiduously avoided passing by that contaminated landfill.

The same thing could eventually happen to Arundel Mills Mall, but they do have a small army of mall cops and frequent drive-bys by county law
enforcement keeping it mostly safe.


10 posted on 02/09/2013 10:03:41 PM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: 2ndDivisionVet
Malls have three problems: 1. Online sales.
2. Outlets.
3. "Ghetto malls" As clientele's change, stores close and move out.
11 posted on 02/09/2013 10:09:05 PM PST by Darren McCarty (If most people were more than keyboard warriors, we might have won the election)
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To: 2ndDivisionVet

Maybe they could make a whole bunch of Blues Brothers sequels.


12 posted on 02/09/2013 10:09:48 PM PST by ThomasThomas
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To: 3Fingas
For a real Maryland "treat" go to Mondawmin mall in Baltimore.

You MIGHT live.

13 posted on 02/09/2013 11:08:03 PM PST by boop ("You don't look so bad, here's another")
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To: 2ndDivisionVet

anybody with two or more working
brain cells knows the mall scene
has been overbuilt since 1980 or so.


14 posted on 02/09/2013 11:13:21 PM PST by RockyTx
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To: boop

The only place I would ever go to now in Bal’more would be the regular tourist areas and I would make a hasty retreat before the vampires come out for dinner.

In my miss-spent youth, I was known to head-bang, imbibe copious amounts of spirits, and try to meet the Rock and Roll gal of my dreams at Hammerjacks. However, I survived that scandalous part of my youth with the greater part of my brain cells intact. :-D


15 posted on 02/09/2013 11:31:29 PM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: boop

Oh, I have never been there. However, the wikipedia entry about the mall suggests that it is just a lovely place.

http://en.wikipedia.org/wiki/Mondawmin_Mall


16 posted on 02/09/2013 11:39:43 PM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: 2ndDivisionVet

Your link requires a subscription to view it.


17 posted on 02/09/2013 11:54:36 PM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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To: 2ndDivisionVet

Your link requires a subscription to view it.


18 posted on 02/09/2013 11:54:58 PM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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To: 2ndDivisionVet

we wouldn’t be overblt if we had a pro-business administration, that was also pro-american.


19 posted on 02/10/2013 12:00:22 AM PST by Secret Agent Man (I can neither confirm or deny that; even if I could, I couldn't - it's classified.)
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To: Nik Naym

Wow, I haven’t double posted in ages.

Sorry ‘bout that.


20 posted on 02/10/2013 12:18:42 AM PST by Nik Naym (It's not my fault... I have compulsive smartass disorder.)
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To: napscoordinator

“In Annapolis, we have 3 malls within 20 minutes of each other. It is rather crazy.”

If you do an economic analysis, in the present retail environment, it would tell you not to build a mall. However, the analysis results change when you take into account tax incentives, development incentives and other lucrative deals made by politicians at all levels. That’s how we end up so over-built. Rest assured the developer gets his profit. It’s the retailer who gets stuck. Then, you add into the equation kill-the-retail political correctness. A mall in Tampa, next to the stadium, wanted to close when teams from historically black colleges played. This is because of flash mobs and riots that occurred EVERY time these teams played. The ALCU took them to court and they were ordered to stay open. The stores all abandoned their leases and the mall is now a parking lot.

I’d imagine that Obamacare will further hit the retail industry as most stores are marginal at best. A sudden mandated increase in labor costs will cause them to go into the red and the will be forced to close.


21 posted on 02/10/2013 2:59:33 AM PST by Gen.Blather
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To: cicero2k
Aging customers who used to shop at malls can no longer deal with the amount of walking required. Even large box stores can seem foreboding.
22 posted on 02/10/2013 5:12:23 AM PST by Average Al
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To: 3Fingas
LOL! Hammerjacks. That place was legendary.

There used to be a dwarf headbanger that was a minor celebrity, because she was there all the time.

I remember it had the most expensive beer in town, something like 3 dollars for a can of Budweiser. In 1985.

23 posted on 02/10/2013 9:29:18 AM PST by boop ("You don't look so bad, here's another")
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To: BBell

“Roving bands of yutes tend to dampen shoppers feelings.”

I remember visiting the actual Borders store that is the subject of the article, back when it was open.

There were no “yutes” there.
It’s not even in a “mall”, per se.
It was a Borders bookstore mated to a Circuit City in one large building. Not connected to a mall.

The Circuit CIty closed too, and is now occupied by a P.C. Richard electronics store.


24 posted on 02/10/2013 10:28:26 AM PST by Road Glide
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To: napscoordinator

There’s a casino in Maryland? I like Annapolis Mall, it’s a nice place to shop.


25 posted on 02/10/2013 10:34:54 AM PST by rabidralph (http://www.cafepress.com/westernwis)
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To: Dilbert San Diego

I loved Landover Mall when I was a kid. Yes, it was eventually overrun. Very sad. But then the Capital Centre was re-imagined as a mall/amusement atmosphere and I have not had a desire to visit it. Has anybody here visited that place?


26 posted on 02/10/2013 10:41:29 AM PST by rabidralph (http://www.cafepress.com/westernwis)
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To: 3Fingas

LOL. Hammerjacks! Just seeing the ads in the Baltimore alternative weekly and hearing the ads on DC101 made me think, “I’ll just stay in town and go to a movie or to the 9:30 Club.”


27 posted on 02/10/2013 10:44:11 AM PST by rabidralph (http://www.cafepress.com/westernwis)
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To: 3Fingas

It seems as though Maryland has become one giant John Waters movie. But I enjoyed growing up there and wouldn’t have traded those experiences for anything else. ‘HFS and Kemp Mill Records made it all worthwhile.


28 posted on 02/10/2013 10:48:14 AM PST by rabidralph (http://www.cafepress.com/westernwis)
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To: rabidralph

It was glorious, my FRiend, just glorius!

None of that auto-tuned, Euro-weenie dance music that followed me home from my last deployment and is now so prevalent on music stations catering to today’s yutes.

We were metal, we were proud, and we ruled suburbia with a with knuckles open glove and a iron fist. lulz...


29 posted on 02/10/2013 10:55:43 AM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: 3Fingas

To be fair, Wikipedia included this bit “After the Baltimore riot of 1968 produced white flight, the mall revenues declined and Sears left.”


30 posted on 02/10/2013 10:59:03 AM PST by MinorityRepublican
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To: boop

I may have seen this dwarf you are referring to, but I saw a lot of things back then that I can’t remember. I do remember smoke filled rooms, blaring metal music, amateur pole-dancing, glitter covered Patty Smyth vixens, and magical unicorns floating through the air but that was probably just the Jim Beam talking.

It was something like this:

http://www.youtube.com/watch?v=dIDaBF8LILk
(ROTFLMAO)....


31 posted on 02/10/2013 11:04:04 AM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: Average Al
Aging customers who used to shop at malls can no longer deal with the amount of walking required. Even large box stores can seem foreboding.

That's another thing. Our demographics are collapsing. Want to see the future of our country? Just take a look at Japan. They're 20 years ahead of us.

32 posted on 02/10/2013 11:04:13 AM PST by MinorityRepublican
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To: MinorityRepublican

http://www.youtube.com/watch?v=UKPeYrrhIvQ


33 posted on 02/10/2013 11:17:24 AM PST by 3Fingas (Sons and Daughters of Freedom, Committee of Correspondence)
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To: 3Fingas

LOL! True. I guess I was happy enough to listen to the cassettes in my truck as I waited in endless Beltway traffic to get somewhere! “Oooooh-ooooh, growing up.”


34 posted on 02/10/2013 12:08:51 PM PST by rabidralph (http://www.cafepress.com/westernwis)
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To: 2ndDivisionVet

http://deadmalls.com/


35 posted on 02/11/2013 10:04:14 AM PST by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
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