Suburban Malls and Associated Retail News

Twin Cities Suburbs
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Anondson
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Re: Suburban Malls and Associated Retail News

Postby Anondson » April 17th, 2018, 8:42 am

Herbergers’ owner likely going to file for bankruptcy because the only bidders have been liquidators.

https://www.bizjournals.com/twincities/ ... ut-of.html

Tcmetro
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Re: Suburban Malls and Associated Retail News

Postby Tcmetro » April 17th, 2018, 10:10 am

That's going to leave Northtown with only a Best Buy and a Burlington Coat Factory as anchors.

Leaves Macy's as the only anchor at Southdale too.

FWIW, the current locations are:
Midway St. Paul
Rosedale - previously announced closure
Southdale
Northtown
Southtown - previously announced closure
Stillwater - previously announced closure
Maplewood Clearance - previously announced closure

min-chi-cbus
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Re: Suburban Malls and Associated Retail News

Postby min-chi-cbus » April 17th, 2018, 11:08 am

Tcmetro wrote:
April 17th, 2018, 10:10 am
That's going to leave Northtown with only a Best Buy and a Burlington Coat Factory as anchors.

Leaves Macy's as the only anchor at Southdale too.

FWIW, the current locations are:
Midway St. Paul
Rosedale - previously announced closure
Southdale
Northtown
Southtown - previously announced closure
Stillwater - previously announced closure
Maplewood Clearance - previously announced closure
Northtown is as good as dead, IMO, and Southdale would be as well if it weren't for its historic status. Luckily the location where Northtown is should make it fairly prime redevelopment territory.

Makes you wonder what future retail is going to look like if regional, anchored malls are a thing of the past. I can't see people completely abolishing the concept of walking down a street or along a mall and window shopping, even if shipping products purchased on the internet costs nothing. That is, I can't see my wife giving up her favorite pastime. :P Seriously though, even now I don't know what I need from a store until I see it and/or feel it myself, so internet shopping for things like everyday household items (e.g. Target) or groceries (e.g. Cub) would still hold a large appeal for old-timers like myself (and I'm only 36), but I'm told that this is the wave of the future (along with automated driving, which scares the bejesus out of me!).

mattaudio
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Re: Suburban Malls and Associated Retail News

Postby mattaudio » April 18th, 2018, 9:09 am

This has gotta hurt Southdale worse than others. That's leaving only Macy's as a traditional anchor, correct?

twincitizen
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Re: Suburban Malls and Associated Retail News

Postby twincitizen » April 18th, 2018, 7:21 pm

Momentarily perhaps, but I’d guess the Southdale space gets filled before most of the others. There’s gotta some type of large-format store that’s salivating at a shot at Edina. Southdale location is probably the only one in the metro that could wind up with something better than Herberger’s. Most will go downmarket or get demolished. Sure seems like Southtown won’t last much longer. Perfect timing to start tearing it down for redevelopment that would be ready for the Orange Line.

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Re: Suburban Malls and Associated Retail News

Postby HiawathaGuy » April 19th, 2018, 10:48 am

twincitizen wrote:
April 18th, 2018, 7:21 pm
Momentarily perhaps, but I’d guess the Southdale space gets filled before most of the others. There’s gotta some type of large-format store that’s salivating at a shot at Edina. Southdale location is probably the only one in the metro that could wind up with something better than Herberger’s. Most will go downmarket or get demolished. Sure seems like Southtown won’t last much longer. Perfect timing to start tearing it down for redevelopment that would be ready for the Orange Line.
Nordstroms was always rumored to want an anchor location at Southdale. This could allow them an easy entry point? Would Bloomingdales or Neiman Marcus come back to the metro? Are there any other large anchors that might a location 'close' to MOA, but for a much more affordable lease price?

josephmck
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Re: Suburban Malls and Associated Retail News

Postby josephmck » April 19th, 2018, 12:28 pm

I can't imagine Nordstrom opening a third location, especially since MOA is so close to Southdale. Neiman Marcus is in trouble; not super likely they will return to Minnesota, especially so soon. Bloomingdales didn't resonate with Twin Cities shoppers, and also wasn't supported the way it could have been, so this isn't likely either.
I like your optimism, but if a retailer is looking for an anchor location, they will probably look for a perfect site, rather than one that is "close." The Herberger's locations may need to be reworked to remove stigma.

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Re: Suburban Malls and Associated Retail News

Postby Drizzay » April 20th, 2018, 1:03 pm

It's a good location right next to the restaurants. Lots of traffic on that side of the mall, especially compared to the old Penny's side. Easy to get in and out on York.

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VacantLuxuries
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Re: Suburban Malls and Associated Retail News

Postby VacantLuxuries » April 23rd, 2018, 12:17 pm


maxbaby
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Re: Suburban Malls and Associated Retail News

Postby maxbaby » April 26th, 2018, 2:35 pm

What about Dillard's or Lord and Taylor entering the area?

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Anondson
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Re: Suburban Malls and Associated Retail News

Postby Anondson » April 26th, 2018, 6:07 pm

I was wondering about Lord and Taylor fitting in at Southdale maybe...

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Tiller
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Re: Suburban Malls and Associated Retail News

Postby Tiller » May 8th, 2018, 1:32 pm

Three of these malls are not like the others, though is that just because of recent anchor closings? (like JCPenny in Southdale and Sears in Burnsville Center last year?)

Northtown Mall (Blaine): 1.65% vacancy rate (losing a Herbergers this year)
Ridgedale Center: 2.07% vacancy rate
Mall of America: 5.59% vacancy rate
Rosedale Center: 5.6% vacancy rate (losing a Herbergers this year)
Maplewood Mall: 6.3% vacancy rate (losing a Sears this year)
Burnsville Center: 17.8% vacancy rate
Eden Prairie Center: 18.3% vacancy rate
Southdale Center: 19.25% vacancy rate (losing a Herbergers this year)

These numbers are from: https://www.bizjournals.com/twincities/ ... efore.html

And from the end of 2017 based on how the above article is referenced in this article https://www.bizjournals.com/twincities/ ... aving.html)

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Re: Suburban Malls and Associated Retail News

Postby QuietBlue » May 9th, 2018, 7:36 am

Burnsville has been hit really hard the past couple of years on store closings, especially the national clothing store chains. They were doing better than most malls around here for a while, but they had the wrong assortment of stores at the wrong time. It doesn't help that they've traditionally been very heavy on apparel and didn't have much in the way of restaurants or other things that bring people into malls, though a new escape room just opened, so if more things like that come in maybe the situation will improve.

at40man
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Re: Suburban Malls and Associated Retail News

Postby at40man » May 11th, 2018, 9:23 am

Tiller wrote:
May 8th, 2018, 1:32 pm
Three of these malls are not like the others, though is that just because of recent anchor closings? (like JCPenny in Southdale and Sears in Burnsville Center last year?)

Northtown Mall (Blaine): 1.65% vacancy rate (losing a Herbergers this year)
Ridgedale Center: 2.07% vacancy rate
Mall of America: 5.59% vacancy rate
Rosedale Center: 5.6% vacancy rate (losing a Herbergers this year)
Maplewood Mall: 6.3% vacancy rate (losing a Sears this year)
Burnsville Center: 17.8% vacancy rate
Eden Prairie Center: 18.3% vacancy rate
Southdale Center: 19.25% vacancy rate (losing a Herbergers this year)

These numbers are from: https://www.bizjournals.com/twincities/ ... efore.html

And from the end of 2017 based on how the above article is referenced in this article https://www.bizjournals.com/twincities/ ... aving.html)
I wonder how those are calculated. I'd say that in late 2017 the Maplewood Mall had noticeably far more vacancies than Rosedale, which seems mostly full. Now in mid 2018, that trend has accelerated at Maplewood with a jewelry store, calendar store, gaming store, Forever 21, art store, Teavana, and now Sears closing.

Tcmetro
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Re: Suburban Malls and Associated Retail News

Postby Tcmetro » May 31st, 2018, 3:15 pm

Brookdale Sears is the latest to close (leaving Ridgedale, MOA, and St Paul).

It looks like only 63 of the up to 100 stores that are closing nationwide are announced, so there could be 37 more announced soon.

https://bringmethenews.com/minnesota-ne ... nationally

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Re: Suburban Malls and Associated Retail News

Postby DanPatchToget » October 9th, 2018, 6:22 am

Apologies if this has already been discussed, but what are they doing on the southern side of EP Center? I drove past yesterday and saw some demolition and construction work.

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Anondson
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Re: Suburban Malls and Associated Retail News

Postby Anondson » October 9th, 2018, 7:14 am

Without seeing what you saw, I believe the demolition was to remove the Sears wing.

I thought what will replace it was something like a destination sporting goods store.

twincitizen
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Re: Suburban Malls and Associated Retail News

Postby twincitizen » October 9th, 2018, 7:17 am

Any bets on which one of Maplewood or Burnsville gets fully (or mostly) torn down and redeveloped first?

I don't know if incomes are high enough in either city to attract a full-scale BelMar (Lakewood CO) redevelopment: http://buildabetterburb.org/a-dead-mall ... ng-suburb/ One thing Burnsville and Maplewood have going for them (even as local trajectory is downward or stagnant) is that they are ringed by higher-income areas with pretty limited retail opportunities. Maplewood has White Bear, Dellwood, North Oaks, etc. Burnsville has Prior Lake and so forth.

There's no question that if Southdale failed, it would immediately be redeveloped into a high-end mixed-use "lifestyle center" or whatever. I'm not sure if that's true of any other mall in the Twin Cities due to weaker HH incomes

QuietBlue
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Re: Suburban Malls and Associated Retail News

Postby QuietBlue » October 9th, 2018, 8:17 am

I know that a redevelopment plan has been created for Burnsville Center, but I have not been able to find a detailed description or report online, just some local news articles that mention it. Though it sounds like the approach will be to do a mix of new housing on the south side and revamping the mall frontage on the north side (facing CR42), with a potential pedestrian crossing over CR42 as well to link it with everything on the north side of the road.

Overall, there seems to still be a good demand for retail in the area, as the area around the mall appears to be doing alright, it's just the mall itself that has been struggling. I don't think the mall ownership has done a good job of keeping up with the times in that they haven't been bringing in more restaurants and other tenants besides stores (though they did bring in an escape room earlier this year). Plus they've been really hurt by the store closings in the past couple of years, because many of the national companies that have had issues happened to be tenants in that mall.

My guess is that the mall will continue to exist, but is likely to be in a smaller form.

Tcmetro
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Re: Suburban Malls and Associated Retail News

Postby Tcmetro » October 10th, 2018, 8:27 pm

Burnsville presented the draft plan at the Economic Development/Council work session meeting yesterday.

https://burnsville.novusagenda.com/agen ... tingID=844

The slides here aren't too detailed but they basically want to redevelop everything on the west side of 35W. Very residential focused. There doesn't seem to be much effort to creating connections between the mall area and outside (most of the new road grid exists within the confines of the mall perimeter drive, which seems counter-productive to changing the primary uses). There also seems to be two potential stops for the Orange Line.


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