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  #221  
Old Posted Apr 5, 2012, 7:28 PM
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They were portions that were originally part of an fully-attached regional shopping centre.
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  #222  
Old Posted Apr 5, 2012, 7:34 PM
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More about that: Let's assume that your walkways are already road width, and the buildings you're keeping are structurally independent. You still have to build new exteriors on three sides of those middle buildings, to handle the weather, etc. They're probably crappy buildings to begin with, beyond their life cycles or close to them, so full conversions might cost as much as building new anyway even without the exterior issue. In many cases (including seismic zones) the structures might not be up to code even if in good repair. Building streets, stormwater pipes, etc., would be more expensive in a confined space, though doable.

So it might make sense to save some freestanding or nearly freestanding buildings, like a department store, or newer construction, but not the crappy 70s lowrises.
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  #223  
Old Posted Apr 5, 2012, 7:39 PM
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Don Mills was originally open-air, which gets around the enclosure and rainwater issues. From wikipedia, it sounds like they didn't keep very much of it.
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  #224  
Old Posted Apr 8, 2012, 5:10 PM
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Originally Posted by MayDay View Post
One factor that plays into this is if an area's municipalities don't participate in any kind of regional revenue sharing effort.

For example, in Cuyahoga County alone (Greater Cleveland consists of 6 counties which have their own fiefdoms), there are something like 59 different municipalities (38 cities ranging from 10K to 400ishK), each with their own economic agendas and revenue streams. So when one smallish city builds a new shopping center; adjacent cities lose revenue to their neighbor so what do they do to recapture that revenue? Build their own, of course! Play that scenario out and is it any wonder you have strip plazas every other mile, and regional malls within 5 miles of each other? And yes, they often cannibalize off each other, especially in metros with a stagnant or shrinking population.
With subsidies etc., shopping centers and strip malls will be built as long as the developer and builder make a profit. This profit includes any tax credits etc., that can be credit to a future buyer. Ideally, the developer will be a minority partner in a constortium with enough bonus payments to cover any future loses, i.e., he or she pays off his or her total investment before the first tenant moves in. He or she then sells their share of the the mall to another buyer at a 'loss'

So they keep building variations of them.
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  #225  
Old Posted Apr 10, 2012, 3:06 AM
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this mall here has plans to redevelop adding something like 6 towers, mainly residential as well as a street and more village type shopping outside the main mall itself

currently:

shapeproperties.com

to this:

http://brentwoodstation.blogspot.ca

see full info package: http://www.shapeproperties.com/sites...n%20Boards.pdf
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  #226  
Old Posted Apr 10, 2012, 3:54 AM
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Very interesting. We'll have to monitor how the development of this progresses. I see similarities in approach to the Oakridge Mall project on the Canada Line that has been delayed into a long-term play, with the addition of new residential towers as something in the future.
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  #227  
Old Posted Apr 11, 2012, 5:05 PM
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Vacant stores pose big-box dilemma


April 11, 2012

By Max Jarman

Read More: http://www.azcentral.com/arizonarepu...te-market.html

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The growing number of closed supermarkets, electronics superstores and mega bookstores in metro Phoenix continue to weigh down the real-estate market, and the problem may be more troublesome than initially thought. With a limited number of tenants looking for large storefronts, owners are finding it difficult to lease top-tier spaces, let alone less-desirable sites. And it's the less-desirable sites that make up the vast majority of the vacant space. Empty big boxes of 10,000 square feet or more represent almost half of the total vacant retail space in metro Phoenix, and the number continues to grow.

- The vast majority, 71 percent of the almost 8.6 million square feet of vacant big-box space, could be considered challenged because of location, age, configuration and other factors. It could be difficult to find traditional retail tenants for such space, and owners may have to consider non-traditional users, such as churches, charter schools, health clubs and government offices. "The secondary space will require a lot more creativity to lease," CBRE Senior Vice President Kevin Schuck said. Some areas of the Valley are particularly challenged. The west side and southeast Valley have particularly high concentrations of vacant big boxes, with the majority considered challenged sub-prime space. In those areas, developers and municipalities may have to work together to redevelop the sites for completely new uses. "Some retail space may have to go," Schuck said.

- In Chandler, where retail vacancy rates are as high as 30 percent at some intersections, a panel appointed by Mayor Jay Tibshraeny is studying the problem. Chandler has 71 square feet of retail space per capita, substantially more than the average of 44 square feet in the nation's top 50 U.S. markets. "Chandler is almost certainly over-retailed," the committee said in a recent report to the city. Given Chandler's glut of retail space, the committee said the best way to revitalize some of the more challenged commercial areas would be to find new, possibly non-commercial, uses for the space. "Many of the centers within the city's older commercial areas have likely outlived their useful lives as commercial properties," the report said. "Chandler is seeing some good (retail leasing) activity, but it will never fill up all the space," said James Smith, an economic-development specialist with the city.

.....
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  #228  
Old Posted Jun 18, 2012, 1:17 AM
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Big-Box Space Remains Hard to Fill


June 12, 2012

By KRIS HUDSON

Read More: http://online.wsj.com/article/SB1000...149495478.html

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Close to a year after Borders Group Inc. collapsed, suburban shopping centers still are struggling to fill the vacated big-box space—and to cope with changes in the way Americans shop. Many shopping centers that lost Borders after the chain announced its liquidation are suffering high vacancies, falling rents and even debt defaults. Values have been falling in particular for the suburban shopping centers that rely heavily on big-box stores and have been bearing the brunt of the impact from online retail competition.

Take the case of the Regency Park Shopping Center, outside of Kansas City, Kan. The former Borders store there stayed shuttered for months, and when its landlord—Dallas-based real-estate investor Henry S. Miller Cos.—finally filled it with a Natural Grocers, the rent was "significantly lower," said Greg Miller, a senior vice president. By then Regency Park had defaulted on its $25 million mortgage. The center has a vacancy of 30%, and its value had declined to $9.3 million in December, from $32.8 million in 2006, according to loan data provided by Trepp LLC, a debt-analysis firm. "It's been a two-steps-forward, one-step-back deal," Mr. Miller said.

A new survey of 205 closed Borders stores shows that one-third are still vacant, according to brokerage Colliers International. Those stores that filled the former Borders space are leasing at rates roughly 30% lower on average than what Borders paid, Colliers said. "Some landlords have been reluctant to, in effect, take the lower rents that retailers are offering [to pay]," said Mark Keschl, Colliers's national director of retail brokerage. "Now that they're going on sitting vacant for roughly a year, we think landlords will be a little more practical." Some popular malls and downtown shopping areas have been able to replace Borders without cutting rents thanks to their locations and appeal to residents and tourists.

But many big-box centers that depended on stalwarts like Borders, Best Buy Co. and Office Max have suffered higher vacancy, weaker cash flows and other problems as these retailers have closed or shrunken stores. After the Oaks Square Shopping Center, in Gainesville, Fla., lost its Borders, other tenants demanded rent decreases to make up for the fact that their big-name neighbor had gone dark, according to Trepp. The landlord, Retail Property Group, replaced Borders early this year with shoe seller DSW Inc., DSW +2.31% but the servicer overseeing the center's $14.6 million mortgage started foreclosure proceedings last February. Retail Property, which has sued the servicer in an effort to pay off its loan at a reduced amount, declined to comment.

.....








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  #229  
Old Posted Jun 18, 2012, 1:09 PM
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Originally Posted by SpongeG View Post
this mall here has plans to redevelop adding something like 6 towers, mainly residential as well as a street and more village type shopping outside the main mall itself

currently:

shapeproperties.com

to this:

http://brentwoodstation.blogspot.ca

see full info package: http://www.shapeproperties.com/sites...n%20Boards.pdf
40, 50, and 60 storey condo towers? In Burquitlam? Wow, that is some serious densification.
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  #230  
Old Posted Jun 20, 2012, 1:31 AM
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Look beyond Fourth Avenue in Brooklyn for solutions to a lack of retail


June 18th, 2012

By Stephen Smith

Read More: http://marketurbanism.com/2012/06/18...et+Urbanism%29

Quote:
Robbie Whelan’s got a column in today’s Wall Street Journal on Brooklyn’s Fourth Avenue, which is something I’ve been thinking a lot about since I moved to Brooklyn earlier this year. If you don’t recall, last year the City Council passed a zoning amendment to require new residential developments on the transit-rich, pedestrian-unfriendly avenue in South Brooklyn to include a certain amount of ground-level retail, to appease the ghost of Jane Jacobs and to stop burning the souls of all who walk the avenue.

- But walking down Fourth Avenue, and seeing all the vacant retail storefronts in apartment buildings sprinkled around the neighborhood from the last development cycle, it seems obvious that the real problem is a lack of demand, which Robbie derides as “the profit-above-all-else motive of some developers” (“some”…ha!). Namely: the neighborhoods around Fourth Avenue are too auto-bound and not dense enough to support the retail and pedestrian traffic that would make Fourth Avenue a vibrant place. (The lots bordering Fourth Avenue may one day grow dense enough to support retail without the help of their side streets. But for now, only mid-rise development is allowed, so I don’t see Fourth Avenue being self-sustaining any time soon.)

- Perhaps the biggest problem is the industrial zoning around the Gowanus Canal and Bay, a few avenues over from Fourth Avenue. Capital has replaced labor in U.S. non-service-sector jobs over the last century, and the only business that can take advantage of the zoning around Third Avenue are auto-oriented (manufacturers these days ship their goods by highways, not canals!). The “pedestrian shed” of Fourth Avenue retail is therefore limited on its west side to basically one avenue’s worth of housing. And on both the east and west sides of Fourth Avenue, not only are the two- an three-story rowhomes relatively small, but they’re actually getting smaller! (…in terms of retail demand.)

- Essentially what the residents of South Brooklyn want – and what Robbie and the Department of City Planning think they can get – is all the amenities of density without the actual density. A handful of seven-story buildings on one street are simply not going to support the kind of vibrant retail that they want, and that Brooklyn deserves. Forcing developers to build retail that won’t rent in a neighborhood that continues to be auto-dominated isn’t going to change that.

.....
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  #231  
Old Posted Jun 29, 2012, 8:00 PM
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Developers Adapt Strategies to Fit Dynamics of Mature and Emerging Markets


Jun 26, 2012

By Beth Mattson-Teig

Read More: http://retailtrafficmag.com/news/dev...gies_06262012/

Quote:
.....

The continued financial crisis in Europe and saturation of retail in the U.S. is clearly fueling the push into new markets. “When you talk about developing in the U.S. and Canada and the U.K. and other mature markets, there isn’t a lot of new ground up development,” says Rich Hauer, a managing director at BDO Consulting in New York City. That is a factor of the economic downturn, as well as an abundant supply of retail space in many of those developed markets, he adds.

- In fact, 19 out of 34 European markets experienced a drop in shopping center construction in 2011 compared to prior year activity, according to a shopping center report by Cushman & Wakefield. Shopping center completions in Europe are expected to total approximately 62.4 million sq. ft. in 2012, which is down from the roughly 73.2 million sq. ft. that was completed in 2011. That decline in activity is not a big surprise, considering that much of the European Union is still battling weak consumer spending, fiscal austerity and high unemployment as it struggles to pull out of recession. The pullback is further proof that developers are moving cautiously in a still volatile market.

- Developers are focusing on infill locations in top markets with strong market demographics and traffic counts. “Developers are spending their energy making sure that they are putting up the right product in the right place,” Hauer adds. The focus for many developers in the U.S. and Western Europe has been on the redevelopment, repositioning or expansion of existing centers. Across Western Europe, expansions of existing centers account for 30 percent of the pipeline for 2012 and 2013. In the U.K., that volume is close to 45 percent, according to Cushman & Wakefield. Particularly in mature markets in the Europe and the U.S. developers are opting for more conservative development strategies amid uncertain times.

- “In many markets there has been a distinct shift away from out-of-town greenfield developments to more urban projects focused around regeneration.” One example of how successful such strategies can be is Westfield’s new 1.9-million-sq.-ft. Stratford City. The urban retail project, which opened last September, is situated in a trade area of roughly 4.1 million people in urban London. Developers are adopting more aggressive strategies in order to compete in emerging markets where shopping center construction is flourishing. Development is very active in emerging markets such as China, India, Indonesia, Turkey, Saudi Arabia and Latin America.

.....
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  #232  
Old Posted Jun 29, 2012, 8:27 PM
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Namely: the neighborhoods around Fourth Avenue are too auto-bound and not dense enough to support the retail and pedestrian traffic that would make Fourth Avenue a vibrant place.
Nonsense. If you took a mile radius, or even a half mile radius around the middle of that stretch of 4th Avenue, you'd have an very high population density. This guy is wrong. It's a matter of design. Lack of density is not the problem.
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  #233  
Old Posted Jul 17, 2012, 7:45 PM
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The Shopping Mall Turns 60 (and Prepares to Retire)


Jul 13, 2012

By Emily Badger

Read More: http://www.theatlanticcities.com/art...s-retire/2568/

Quote:
.....

The classic indoor mall, however, is widely credited with having an inventor. And when the Vienna-born architect Victor Gruen first outlined his vision for it in a 1952 article in the magazine Progressive Architecture, the plan was a shocker. Most Americans were still shopping downtown, and suburban "shopping centers," to the extent they existed, were most definitely not enclosed in indoor mega-destinations.

- Gruen’s idea transformed American consumption patterns and much of the environment around us. At age 60, however, the enclosed regional shopping mall also appears to be an idea that has run its course (OK, maybe not in China, but among Gruen’s original clientele). He opened the first prototype in Edina, Minnesota, in 1956, and the concept spread from there (this also means the earliest examples of the archetypal American mall are now of age for historic designation, if anyone wants to make that argument).

- At the mall’s peak popularity, in 1990, America opened 19 of them. But we haven’t cut the ribbon on a new one since 2006, for reasons that go beyond the recession. As we imagine ways to repurpose these aging monoliths and what the next generation of retail should look like, it’s worth recalling Gruen’s odd legacy. He hated suburbia. He thought his ideas would revitalize cities. He wanted to bring urban density to the suburbs. And he envisioned shopping malls as our best chance at containing sprawl. "He said great quotes on suburbia being 'soulless' and 'in search of a heart,'" says Jeff Hardwick, who wrote the Gruen biography Mall Maker.

- Gruen wanted to create better versions of the American downtown in the suburbs. He wanted these places to be civic centers as much as commercial ones, with day cares, libraries, post offices, community halls and public art. He wanted the shopping mall to be for suburbia what the public square was to old European cities. In fact, that mall in Edina, called Southdale, was supposed to be the centerpiece of a 500-acre master plan to include houses, apartments, office buildings, a medical center and schools.

- "Even if we had realized Gruen’s ideas," says Georgia Tech professor Ellen Dunham-Jones, "if it’s just this self-contained pod surrounded by berms that you drive to, I don’t think the suburbs would actually look or function all that differently [today]." By Dunham-Jones' count, today about a third of our existing malls are "dead" or dying. That’s not to say they’re mostly vacant. But they have dreadful sales per square foot. High-end dress stores have moved out, and tattoo parlors have replaced them – "things," Dunham-Jones says, "that would normally be considered way too déclassé for a mall."

- About a third of our malls are still thriving, and those are the biggest, newest ones. But America is no longer building many new highways, which means we’ve stopped creating prime new locations for mall development. Some of the earliest amenities of the enclosed mall – air-conditioning! – no longer impress us. And the demographics of suburbia have changed dramatically. Malls draw the largest share of their customers from teenagers, and the baby boomers who largely populate suburbia no longer have teenagers at home.

- Americans haven’t particularly outgrown the consumer impulse that Gruen detected. We still love to flock to dense agglomerations of Body Shops and Cinnabuns and Brookstones. But now those places look increasingly like open-air "lifestyle centers," with condos above or offices next door. Some of these places are just the old mall in a new Main Street disguise. But when you add residences, and cut Gruen’s mega-block into what actually looks like a downtown street grid, that begins to change things. "You’ve got to get a mix of uses, but the connectivity is probably even more important," Dunham-Jones says. "The uses will come and go over time, but if you can establish a walkable network of streets, that’s when you’re really going to establish a ripple effect in changing suburban patterns."

.....



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  #234  
Old Posted Jul 19, 2012, 3:57 PM
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Malls’ New Pitch: Come for the Experience


July 17, 2012

By STEPHANIE CLIFFORD

Read More: http://www.nytimes.com/2012/07/18/bu...imes&seid=auto

Quote:
Glimcher Realty Trust, which owns and manages shopping malls, is experimenting with making them Internet-proof. The company concedes that if shoppers can buy something online, they will. So it is trying to fill one of its malls, in Scottsdale, Ariz., with businesses that do more than sell stuff.

- There are still clothing-only retailers at the mall, Scottsdale Quarter, but more than half of the stores offer dining or some other experience that cannot be easily replicated on the Web. That has Glimcher executives taking some unconventional approaches to finding suitable tenants — like testing out laser salons, getting hairstyling lessons and watching movies in a theater that serves food.

- While a Scottsdale shopper can buy clothes on the Web, “she can’t go out to lunch with her girlfriends and have a glass of wine and a salad online,” said Michael P. Glimcher, chairman and chief executive. “She can’t get her hair done online. She can’t go and make pottery or soap or a cake online.” Just about every mall owner in America is looking for ways to compete with the Internet. R. J. Milligan, a real estate analyst for Raymond James, said that developers were slowly adding more service-oriented elements to malls — for instance, dividing a closed Sears anchor store into multiple cafes.

- Scottsdale shoppers can have their hair blown into beachy waves at Drybar, create picture frames at Make Meaning, try a tree pose at Blissful Yoga and grab a kale salad at True Food Kitchen before going to a movie, where they can have drinks and snacks delivered to their reserved seats. They can also take advantage of in-person-only opportunities at standard retailers, like the so-called booty cam at Industrie Denim, a jeans store, that lets women study their rear view. A Restoration Hardware scheduled to open soon will offer fresh flowers and cups of tea for sale. “We want to be a place that people go to frequently, more than one time a week,” said Mr. Glimcher, so the emphasis is on classes and other hands-on experiences.

- Make Meaning and other businesses of its kind do not typically make as much money per visit as apparel stores. Memberships there cost $36, and an average activity costs $24. But, Mr. Glimcher said, because the store offers seven different crafts, some people come back weekly or monthly instead of dropping in once or twice a year. Higher foot traffic often translates into higher sales per square foot — Make Meaning says it makes up to $600 a square foot in some stores — and concept stores like Make Meaning can buoy other business at the mall. Daniel Nissanoff, Make Meaning’s chief executive, said it “offers people a reason to come into a mall.” Activities at Make Meaning often have wait lists — so shoppers have to kill time at the mall — and visitors must return to pick up fired pottery or glass jewelry, which means an extra mall visit.

- Because many retailers signed short-term leases in 2009 and 2010, when the economy was highly uncertain, many leases are up for renewal now, and Glimcher is ousting standard stores where it can. At its Polaris Fashion Place in Columbus, Ohio, for instance, it recently replaced a Gap with an Apple store. At River Valley Mall in Ohio, it replaced a Dollar Tree with Ulta Beauty, a test-it-and-buy-it cosmetics store. At a New Jersey outlet mall, Jersey Gardens in Elizabeth, it ousted a Benetton and brought in a Lego store, which offers Lego-construction classes. “It’s retail Darwinism,” Mr. Glimcher said.

.....



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  #235  
Old Posted Jul 21, 2012, 3:37 PM
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I suspect a large equation could be derived linking the square footage vacant in US malls to:

A. The impact of WalMuck on retailing (now about 7% of ALL retailing in the US, and, this is rising).

B The impact of Amazon (don't have nickname yet) on the public's perception of what retailing is, i.e., educating the public into the "internet alternative." Amazon's recent move into local metro-warehousing while forcing them to pay local taxes, will also affect local brick and mortar store sales.

C. CriagsList has radically diminished newpaper advertising. This applies to advertising from local businesses as well as from individuals, because each type of ad revenue feeds on the other. The net effect for local business is greater cost to reach a smaller slice of the total market. Internet advertising by businesses is still a questionable return on investment for the local business (this also affects the Post Office, which already has been decimated by the effects of eMail)

D. Ebay. While a declining force in the internet sales arena, Ebay provided nation wide advertising for individuals, and, mom-and-pop businesses.

Add these factors to changes in demographics and the resulting reduction in economic growth rate, and, Malls (outside of a very few per metro-area) are redundant.
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  #236  
Old Posted Jul 21, 2012, 11:54 PM
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Malls are not redundant. American just has too many of them.

I was just in the USA, and my friend and I did notice as we always do just how quiet American malls are, even the major and most best in a metropolitan area.
Come to Canada, and the malls are packed at all hours.

It all comes down to just having too many, and not that people are not going to the mall.
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Old Posted Jul 24, 2012, 3:36 AM
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Malls are not redundant. American just has too many of them.

I was just in the USA, and my friend and I did notice as we always do just how quiet American malls are, even the major and most best in a metropolitan area.
Come to Canada, and the malls are packed at all hours.

It all comes down to just having too many, and not that people are not going to the mall.
What a ridiculously simplistic over generalization. This just smacks of more of your same, tired "Canada good, U.S. bad" tirades of late.

I'm guesing you must have been in the oh-so-upscale and booming Walden Galleria in Buffalo? Hardly indicative of the "best" in a major metropolitan area of the U.S.
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Old Posted Jul 24, 2012, 1:13 PM
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What a ridiculously simplistic over generalization. This just smacks of more of your same, tired "Canada good, U.S. bad" tirades of late.

I'm guesing you must have been in the oh-so-upscale and booming Walden Galleria in Buffalo? Hardly indicative of the "best" in a major metropolitan area of the U.S.
I was in Beechwood Place in Cleveland. I have been to the big malls in Metro Detroit. My parents have been to the big malls in Metro Phoenix, etc.
The malls in the USA just don't get as busy as the Canadian ones.

There is a reason why Canadian malls on average have double the sales per sq foot than even the busiest malls in the USA. And one of those reasons sited was because Canada did not overbuild its retail.

There are other reasons as well. American malls are not centres of public transit routes like Canadian malls are, and that was sited as another reason Canadian malls do so well.

At the end of the day America just has too much shopping, and places are cannibalizing each other. There is no reason at all that one city needs 20 branches of one store, or 10 malls, etc. It is just too much.
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Old Posted Jul 24, 2012, 3:37 PM
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With the exception of the US mega malls like King Of Prussia.
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Old Posted Jul 24, 2012, 3:59 PM
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Not really. KoP is too large for its own good--it always seems to have a dead part. When I was a kid, it was the Court. Today, it's around the old Wanamaker's (being razed for a Target). Tomorrow, it'll be the Sears wing, once that company inevitably implodes.

The only malls that will command a high foot traffic in perpetuity are those that can be better classified as indoor gallerias (i.e. city center malls whose atria function like a pedestrian street). The ones in Boston's Back Bay are a good example of this.
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