Posted 19 February 2008 - 08:41 PM
The addition of a Korean Megamarket doesn't bode well for the mall. I know it's the kind of business that the area high immigrant population will support, I think the old Harry's on Satellite would be a better location for this market. A lot of discussion about malls involve the "connectivity" of the anchor to the mall, in this case psychological connectivity, as opposed to physical connectivity. Many different articles have stated that mass merchants such as Sears and JCPenney are finding malls to no longer be the best location for their stores, as their customers often shop those stores as destinations and are interested in the department stores(Macy's, Belk, Dillard's, etc.) or the small shops. Discount stores such as Wal-Mart and Target have even less customer exchange with the the mass merchants, and Megamarket seems to fit the bill of a Korean Wal-Mart. Now I'm not saying none of the customers shop the mall, but that the customer in these type stores are shopping the store primarily and rarely shop the mall or shop the mall in a separate trip. It's really how malls have evolved to the point that successful malls have at least a slightly upscale to upscale tenant mix and are seen as a destination for fashion oriented shopping as opposed to the more utilitarian shopping that drives mass merchants and discounters. Early malls had a broad tenant mix that included supermarkets, drug stores, variety store/5&10, discount stores, department stores, boutiques, etc. but by the 1970's, malls became a more fashion oriented destination, something that hasn't really changed. The early malls that didn't evolve became among the first deadmalls, will some early malls reinvinted themselves. Atlanta has a prime example of such a mall, Lennox Square. It opened with Rich's, Davison's, Kresge 5&10, and a Colonial Supermarket as its primary tenants and was hardly the upscale mall it is today. A sign of the decline of malls built in the 1970's and 80's is often not just the loss of one or two anchors, which given the consolidation in the department store industry, is not bad, but rather a growing number of mall vacancies, local shops filling mall spaces, and the appearance of more utilitarian retailers in the anchor spots.
I have a soft spot for Gwinnett Place, even though Cumberland and Town Center were the primary mall destinations for me when I was younger. It represents the coming of age for Gwinnett, and much of how Gwinnett county can be described is Pre-GP and Post-GP. For all the growth Gwinnett had experience prior to Gwinnett Place's 1984 opening, Gwinnett seemed really rural before 1984, despite have almost 250,000 residents at the time. I would like to see Gwinnett Place see a renewal much like Cumberland Mall has experienced, but it seems its not going to happen soon. Of course, Northlake, North DeKalb, South DeKalb, Greenbriar, and Shannon/Union Station have been diagnosed as dying for much of the last 20 years, and they continue to survive, so Gwinnett could still continue for another 20 years as its currently exists. I wonder if Simon operating all three Gwinnett county malls is why Gwinnett Place is being allowed to languish and decline. In Cobb, Town Center is Simon while GGP operates Cumberland. Simon operates Northlake in DeKalb, wiht GGP having Perimeter is its competitor. You have to consider Simon-owned Phipps Plaza and Lenox Square in tandem with GGP's NorthPoint Mall as the Fulton county competition in this analogy, but it makes me wonder if Gwinnett Place wouldn't fare better if it or Mall of Georgia were operated by competing mall developers instead of GP being the older of Simon's Gwinnett county malls.