Online Ordering - a sign of the times?

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laphanphon
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Re: Online Ordering - a sign of the times?

Post by laphanphon » Mon Mar 20, 2017 9:09 pm

Unlike Thailand, they're simply not building them any more. All in the Philly area are hurting, due to online shopping, along with the anchor stores losing their market share to online shopping, and closing themselves.

Why fight the traffic / congestion, take the time, spend the money of fuel, along with crap customer service from minimum wage employees who don't want to be there, when with a few keystrokes, it's delivered to your house, cheaper.

A giant wave of store closures is about to hit the US
http://www.businessinsider.com/stores-c ... rs-2016-12

A Third of American Malls Will Close Soon
http://time.com/money/4327632/shopping-malls-closing/
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RCer
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Re: Online Ordering - a sign of the times?

Post by RCer » Tue Mar 21, 2017 8:41 am

dennism53 wrote:
Mon Mar 20, 2017 8:39 pm
Without question I'm biased!

But not emotional enough to let unsubstantiated observations get in the way of good business decisions!

Believe me when I say don't feel bad for any REIT's.
Do you purchase existing malls that are or already have failed, knock them down, and build something new?

Or, build on virgin ground?

Old malls are a blight and destroy the inner cities.

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Re: Online Ordering - a sign of the times?

Post by dennism53 » Tue Mar 21, 2017 5:52 pm

We purchase existing centers we feel we will be able to retenant (not very often). Malls fail because of the tenant mix for the most part. The consumer ultimately decides what succeeds and what fails. If looking at a failed property you better be sure you have "new in market" tenants up your sleeve and hopefully tie the retail into/with something entertainment based that the market needs.

Depending on what your building (size, outparcel mix, entertainment venue) you could be talking about 150 acres and the chances of finding an infill site for a hugh project like that is pretty rare and prohibitive from a cost standpoint.

I agree on old malls, again it comes down to the site, neighborhood, land value. Many times highest value and best use is not retail.
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oakdale160
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Re: Online Ordering - a sign of the times?

Post by oakdale160 » Tue Mar 21, 2017 7:11 pm

i was surprised to read how aggresively walmart has entered the online business--volume approaching that of Amazon.

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Re: Online Ordering - a sign of the times?

Post by Name Taken » Wed Mar 22, 2017 8:18 am

dennism53 wrote:
Mon Mar 20, 2017 8:39 pm
Without question I'm biased!

But not emotional enough to let unsubstantiated observations get in the way of good business decisions!

JCP as a retailer has been holding on by finger nails for 20 years, stores that they are closing most likely average 30 years old, they are tired 3rd tier losers that should have been closed. I would challenge anyone to name a major A shopping center opened in the last 5 years that has JCP as an anchor.

How old was this mall in Philly 40 years old,....that's exactly what you see closing all over yet the sq footage of retail in markets keeps increasing with new Lifestyle and Entertainment Centers.

Believe me when I say don't feel bad for any REIT's.
Alright, Good Luck and continued success with your 'Lifestyle and Entertainment Centers'.
:cheers:

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