2748 replies to this topic

[ah59396]

ct36, on 15 April 2012 - 02:09 PM, said:

I just looked at how their spaces that are empty on their website.
I am failing to see how an 86% leased mall is considered to be doing very well anyway (124/144). As far as I know, SouthPark doesn't have any available space that isn't being filled. (100% leased).

I never said it was doing very well, nor tried to make you see that.  I merely stated what I saw from my observations and asked you for some numbers.  Is 86% considered bad?  I'm not in the mall industry.  

Comparing SouthPark to Northlake is a little ridiculous though.  One is located in one of the most densely populated parts of the city.  The other was built in what was at the time, an empty field next to an interstate.  I imagine business in Northlake will continue to pick up as the apartment complexes currently being built around the mall continue to develop and population increases.

Overall, I don't care for either mall.  I buy everything online these days.  I just eat at and around Northlake quite a bit for work.

[Urbanity]

ct36, on 15 April 2012 - 01:45 PM, said:

Northlake is not doing so well with the upscale stores. They got Apple, but they lost Z-Gallerie, etc. I do know that there are actually a few spaces in the Dillard's wing that are empty or have the low-end urban stores, temp stores, etc. (may as well be empty).
Then again, I do exaggerate sometimes and I am always going to SouthPark, so it probably has the illusion that Northlake is not doing well. I must admit thought that, in my opinion, they aren't doing as good as they should. I went on a Saturday about lunch time. The mall was completely empty. I only saw about 10 or maybe 15 people in the entire mall. When I went to SouthPark at around the same time, it was pretty full. SouthPark barely has any space avaliable for lease, and it's packed pretty much any time you go.
You really can't say how good (or bad) the mall is doing. I can't find any numbers anywhere. I did see, however, that they are making about half as much as was projected.
Besides, I never even said that it was doing bad, I specifically stated that it was not doing too well.

I glad you admit exaggerating because I call B.S, on there being only "10 maybe 15 people" in Northlake at Lunchtime.  

Also look at Northlakes location and then look at South Park - do you really consider a lunch time crowd comparison a fair judge of how a mall is doing when South Park Mall happens to sit in the center of one of the biggest employment districts of Charlotte and is a tourist attraction in itself?

BTW - North lake never seemed to be going for the upscale mall clientele so it's not a surprise that you don't see it doping well with upscale shops.

I've already stated that this point about North Lake not doing well comes up every once and a while and is always knocked down when the annual mall sales figures come up.   Just don't see the point of trying to argue it based on some anecdotal observations...

Anyway - South Park Mall thread hijack over -

Edited by Urbanity, 15 April 2012 - 05:15 PM.

[ct36]

A good, popular mall is usually at least 90%. Most really successful malls are 95% or higher. Some may even be 100% and have a 2 year waiting list also (Bal Harbour). While I know that the 2 malls don't compare, I still like Haywood Mall in Greenville better, and it is at least 95% full or even higher. Basically, what I am saying is that Northlake would be doing much better than it is now if it were located in a different part of Charlotte, or a different city altogether.

I do find it reasonable to compare the malls at that time because both times were a Saturday around the same time of year, when most people working in the offices around SouthPark would not be working. I was there at 11. Then, there were around 5-10 people walking around on level 1 of the mall. I went in 3 or 4 stores and I was the only person in there (that didn't work there) in each store. Closer to lunch time, there were only about 15 or so tables that were taken up. None of the food court tenants had lines, except for Chick-fil-A, which had 2 or 3 people in line. I know what I saw, so if you don't believe me then I really don't care.

Could you provide these figures for me, because I cannot seem to find any figures about Northlake, with the exception of square feet.

Edited by ct36, 15 April 2012 - 05:21 PM.

[mallguy]

86% leased is pretty bad, if that means that only 86% of the mall's leasable square feet are leased.  That would mean that not only do retailers not want to locate in the mall, but also that there are probably rent reductions in place for existing tenants.

Didn't Z Gallerie close down a bunch of stores a while back?  I wouldn't view losing that store as a sign that Northlake is failing; it's more a tenant issue than a mall issue.

[Temeteron]

ct36, on 15 April 2012 - 01:45 PM, said:

Northlake is not doing so well with the upscale stores. They got Apple, but they lost Z-Gallerie, etc. I do know that there are actually a few spaces in the Dillard's wing that are empty or have the low-end urban stores, temp stores, etc. (may as well be empty).
Then again, I do exaggerate sometimes and I am always going to SouthPark, so it probably has the illusion that Northlake is not doing well. I must admit thought that, in my opinion, they aren't doing as good as they should. I went on a Saturday about lunch time. The mall was completely empty. I only saw about 10 or maybe 15 people in the entire mall. When I went to SouthPark at around the same time, it was pretty full. SouthPark barely has any space avaliable for lease, and it's packed pretty much any time you go.
You really can't say how good (or bad) the mall is doing. I can't find any numbers anywhere. I did see, however, that they are making about half as much as was projected.
Besides, I never even said that it was doing bad, I specifically stated that it was not doing too well.

Sorry, but you make no sense whatsoever......

[ct36]

I'm hoping for an Emporio Armani in the current Apple space.

[jednc]

mljones99, on 13 April 2012 - 09:38 AM, said:

And apparently Chuy's is opening a restaraunt in/near the mall somewhere.

Where did you hear this? I've been waiting for years for Chuy's to come to Charlotte. I recently emailed the company and they told me they were close to closing on a Charlotte location, so this jives with what you're saying. I was hoping the location would be a little closer to the lake, but Southpark is better than Nashville, TN! What other details do you know?

[Temeteron]

ct36, on 16 April 2012 - 02:31 PM, said:

I'm hoping for an Emporio Armani in the current Apple space.

A lot of wishful thinking there don't ya think?  Not even Atlanta has one.  I think A/X would be a potential candidate for that space however

[ct36]

Not too much. Atlanta is getting one at the airport, and Orlando is getting one as well.