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Green Hills/Belle Meade Projects

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47 minutes ago, Jamie Hall said:

I'm a bit surprised Trader Joe's hasn't already opened more stores in the Nashville area based on the massive success of the one in Green Hills.

It's a good question. I wonder what type market they shoot for? Turnip Truck's new nice store hurts prospects in East Nashville. Are they viewed as too urban for Brentwood/Franklin? Too "upscale" for other parts of town? Too much existing competition in Cool Springs?

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2 hours ago, Nash_12South said:

It's a good question. I wonder what type market they shoot for? Turnip Truck's new nice store hurts prospects in East Nashville. Are they viewed as too urban for Brentwood/Franklin? Too "upscale" for other parts of town? Too much existing competition in Cool Springs?

I think they would have great success in East Nashville but now have to deal with a new Publix.  If I had to make a guess for TJ's next location, I would say East Nashville or Donelson.  Sprouts has taken prominent locations in Franklin and Bellevue, making it harder for TJ's to find a place.

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West Nashville will soon have an abundance of much better grocery store options with the new Trader Joe’s on White Bridge Rd., the new Turnip Truck store on Charlotte Ave.  and the new Publix store on Charlotte at Capitol View. 

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2 hours ago, markhollin said:

5 new stores to open in Mall at Green Hills next month: Abercrombie & Fitch, Abercrombie Kids, American Eagle,  Aerie, and Fabletics.

More at The Tennessean here:

https://www.tennessean.com/story/money/2019/09/17/nashville-american-eagle-abercrombie-fabletics/2350716001/

I'm not a fashion/shopping kind of guy, but I'm curious if Green Hills is starting to lose it's upscale bent somewhat, because most of the recent additions, including those listed above, are, at least according to my limited knowledge, fairly run-of-the-mill, are they not?

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The Mall at Green Hills remains decidedly upscale.  The stores are almost all high-end, except for Dillard’s and Macy’s.  The Mall at GH store mix is comparable to the Galleria in Houston, Lenox Sq.  or Phipps Plaza in Atlanta.  Only need a Neiman Marcus or Saks Fifth Avenue, but those aren’t likely as all levels of retail is very challenged, much of it due to Amazon.  

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54 minutes ago, 21jump said:

When did Abercrombie & Fitch and Abercrombie Kids leave the mall? I remember them being there around '08 or so?

They hit a very bad patch during the last recession because of their overpriced clothes and closed many stores including GH. They have bounced back enough to expand again. 

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20 hours ago, Nash_12South said:

They hit a very bad patch during the last recession because of their overpriced clothes and closed many stores including GH. They have bounced back enough to expand again. 

The overpriced clothing was part of the reason for A&F's decline. Another part was incredibly bad PR over the years from their off-putting CEO Mike Jeffries, who said (among other things) that "a lot of people don't belong in our clothes, and they can't belong," and "we want to market to cool, good-looking people. We don't market to anyone other than that." That kind of thinking might have been overlooked in the '90s, but not so much these days. He "retired" in 2014 as the company was shutting down a lot of stores.

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On 9/18/2019 at 11:53 AM, dxfret said:

  The Mall at GH store mix is comparable to the Galleria in Houston ....

Well ---- not THAT closely comparable. I've only seen the GH Mall from the outside but seemingly it has 3 anchors with one being upscale? The Houston Galleria has 4 with 3 upscale: Saks, Neiman's , Nordstrom, and Macy's, so I'm thinking 1/3 not so close to 3/4.  Additionally  it has 3,000,000 sf gross retail space.  Green Hills has  861,000. The Galleria has 3 office towers (one of those with atrium integral to the mall retail space)and two hotel towers integral to its footprint and a sky walk to the 65 story Transco Tower.

Edited by dragonfly

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7 hours ago, dragonfly said:

Well ---- not THAT closely comparable. I've only seen the GH Mall from the outside but seemingly it has 3 anchors with one being upscale? The Houston Galleria has 4 with 3 upscale: Saks, Neiman's , Nordstrom, and Macy's, so I'm thinking 1/3 not so close to 3/4.  Additionally  it has 3,000,000 sf gross retail space.  Green Hills has  861,000. The Galleria has 3 office towers (one of those with atrium integral to the mall retail space)and two hotel towers integral to its footprint and a sky walk to the 65 story Transco Tower.

To just be contrarian, I think the mix of stores is very comparable, it's the scale that is not. GH would need to be 3 1/2 times bigger to match the size of the Galleria. If it were it would have a Saks and/or Neiman's. Both stores wanted to be in GH in the past, I know that as fact. There was never the ownership/space availability combination to make it work. I've never been to the Houston Galleria, but given today's shrinking number of brick and mortar stores I would not want the job of keeping that much square footage leased with decent tenants. 

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Right. GH needs at least 1, but really 2 so-called ‘high end’ department  stores to be considered in that class of destination shopping center. There were plans for that with a hotel atop the mall by the previous owner about a decade ago. Then retail was hit really hard by the recession and then online. Since then the mall was sold and certain retailers have recovered to coexist (even succeed) in the new environment. Saks for GH was rumored a few years back but they’ve not rebounded well. IDK so much about NM. That sector had seen a run up of debt in the decade before the recession as chains bought other chains. Timing was terrible for them. GH would also need more specialty luxury goods stores with only location in town there.  In some ways GH competes with Cool Springs for stores and customers. So Nashville lacks a shopping hub with critical mass. I do believe that 860k s.f. Does not include the latest expansion of 135k s.f. But it would need a mall expansion to accommodate another anchor.  That would necessitate structured parking. Seems that they’d need to go to the east but several new shops have paid dearly for that entrance. So I don’t expect another expansion for a long time. If/when it happens, it’s most likely between the mall and the old brick building that now houses the theatres.

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I agree with all your points, but want to throw Bloomingdale's into the mix. Maybe not as "upscale" but a destination for me. I do think that many of the smaller stores will continue to make GH a "destination" mall. My visiting aunt always has to go to Tiffany's (just to look).  Crate and Barrel will be be a destination for a lot of folks. Stores like Apple, the new Gucci, expanding Louis Vuitton, Burberry all have their fans. I have been to the Dallas Galleria and was impressed more by it's scale than the stores. Green Hills will never compete on that level.

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