Concord Mills

[Neo]

Another interesting restaurant move there. The Fire Mountain restaurant has been converted to a Ryans. This just happened. I guess Ryans is giving up on the Fire Mountain concept.

Ah, when did this happen? I didn't notice this past weekend while over there. I never quite understood the real difference between a Fire Mountain and Ryans to be honest. As far as I know the only other Ryans is in Gastonia around exit 21 or so.

[AuLukey]

Ah, when did this happen? I didn't notice this past weekend while over there. I never quite understood the real difference between a Fire Mountain and Ryans to be honest. As far as I know the only other Ryans is in Gastonia around exit 21 or so.

I thought there was one up at exit 58 in Concord/Kannapolis in Cloverleaf Plaza near the old target and home depot. It's either Ryans or another buffet style restaurant.

Also, the O has an article about the change in the restaurants on Speedway. Apparently UNO said it was because "sales didn't cover costs"

Edited January 6, 2007 by aussie luke

[Neo]

I thought there was one up at exit 58 in Concord/Kannapolis in Cloverleaf Plaza near the old target and home depot. It's either Ryans or another buffet style restaurant.

Also, the O has an article about the change in the restaurants on Speedway. Apparently UNO said it was because "sales didn't cover costs"

You are correct about there being a Ryan's next to the IHOP on 29 near the Home Depot and old Target. I had forgotten about that location. As far as the Uno's is concerned, I can't imagine anything else doing better than them at that location. They had to have unapparent issues causing them to close down, I can't imagine a lack of sales forced them to shut that location down.

[Temeteron]

You are correct about there being a Ryan's next to the IHOP on 29 near the Home Depot and old Target. I had forgotten about that location. As far as the Uno's is concerned, I can't imagine anything else doing better than them at that location. They had to have unapparent issues causing them to close down, I can't imagine a lack of sales forced them to shut that location down.

I dont know but I emailed corporate and their response was very unhelpful "Thank you for letting us know you will miss UNO in Concord. Restaurants close for many reasons and I can assure you these are always difficult decisions. Thank you for being a loyal UNO guest and I hope you will have the opportunity to dine with us again in the near future." They never answered the question as to why it closed. Maybe one of the employees did something to make a customer sue them?

Edited January 7, 2007 by Temeteron

[Vitamin_N]

Apparently the Mills Corp. is flirting with the idea of bankruptcy:

http://charlotte.bizjournals.com/washingto...08/daily14.html

[monsoon]

It's rather interesting about that. I was in this mall at lunch last week and I was commenting to the person that I was with that the giant plasma TV's that used to be in there with "Mills Television" had been removed. I guess they shutdown the Mill Televsion Network with AJ Hammer. We were also noting that CM needed a paint job.

On the other hand, they seem to be holding on to their stores better than NorthLake.

[Vitamin_N]

Traffic at Concord Mills is flat, but it's still the biggest tourist attraction. The article also says that some new stores are coming:

http://www.charlotte.com/mld/charlotte/business/16442206.htm

The Concord outlet mall attracted an estimated 17.3 million people last year, a 0.02 percent increase from 2005, mall general manager Jeff Runnells said Thursday. He attributed the stagnant numbers to the presence of Northlake Mall, which debuted in Charlotte in September 2005.

Runnells did not think Northlake would have a long-term impact on the Concord mall. Concord Mills' visitor patterns returned to normal in the last three months of the year, coinciding with Northlake being open for a year, according to Runnels.

Additional entertainment and larger apparel stores coming to Concord Mills this year also should help attendance grow a little more, he said, declining to identify the stores until after leases are signed.

[SmellyCat]

Most of Mills' properties are performing quite well. Unfortunately, it has been mismanagement at the corporate level, including accounting screwups that apparently are layers thick - in addition to getting over its head with the Meadowlands Xanadu project - that may ultimately doom the company.

[AuLukey]

well, i have a feeling that regardless of how the Mills Co turns out, somebody will buy the successful Mills Corp malls (ie Concord) and keep them running as if nothing ever changed. Outside of the plasmas and probably signage, i doubt much of anything about the mall will change.

[nyxmike]

Traffic at Concord Mills is flat, but it's still the biggest tourist attraction. The article also says that some new stores are coming:

http://www.charlotte.com/mld/charlotte/business/16442206.htm

The Concord outlet mall attracted an estimated 17.3 million people last year, a 0.02 percent increase from 2005, mall general manager Jeff Runnells said Thursday. He attributed the stagnant numbers to the presence of Northlake Mall, which debuted in Charlotte in September 2005.

Runnells did not think Northlake would have a long-term impact on the Concord mall. Concord Mills' visitor patterns returned to normal in the last three months of the year, coinciding with Northlake being open for a year, according to Runnels.

Additional entertainment and larger apparel stores coming to Concord Mills this year also should help attendance grow a little more, he said, declining to identify the stores until after leases are signed.

Thats good news. Hopefully some upscale outlet stores will come to round out the mix.

[Neo]

Looks like Concord Mills and the rest of The Mills Corp. is being sold to Brookfield Asset Management Inc. I didn't see if they would be selling off any property or change anything with current properties. Any speculations?

http://www.bizjournals.com/charlotte/stori...html?from_rss=1

[SmellyCat]

Looks like Concord Mills and the rest of The Mills Corp. is being sold to Brookfield Asset Management Inc. I didn't see if they would be selling off any property or change anything with current properties. Any speculations?

Although I think Brookfield is a solid real estate owner and operator, most of its assets are large office buildings in major U.S. and Canadian MSAs. Sans some small mixed use components built into its office buildings, Its only retail assets are held in Brazil, of all places. Therefore, since there is no overlap and most of the Mills properties are performing well, I doubt Brookfield will do anything drastic for at least a year until it evaluates the entire portfolio. Perhaps it will take on an experienced retail property manager as a partner. But what about the name - Concord Brookfield? I don't think so.

Edited January 18, 2007 by SmellyCat

[StevenRocks]

I figure Mills will start selling off properties to big mall developers like Simon and Westfield.

[AuLukey]

Concord Brookfield?!?

I hope that along with the property, the Mills Corp gives the naming rights too. Imagine all that would have to change in Charlotte/Concord to reflect a name change. Interstate signs for Concord Mills Blvd, Cabarrus County restaurant, hotel, local business and government advertisement signs and portfolios would have to reflect a name change, road signs, etc. And that would be in any city that the malls were named X Mills (which I'm sure is the case for most, if not all of them.) It wouldn't seem rational for the Mills Corp to not allow naming rights to stay. Ok, that was really a pointless rant, but what do you think will happen?

[monsoon]

I would be surprised they would make the mistake of changing the name given the name recognition that it already has. On the other hand I've seen corporations do stupid things on this matter, like VW recently going back to the Rabbit name, so I guess anything is possible. What they need to do is to do some updating on this mall as the 8 year old paint is fading badly.

[Temeteron]

Just noticed yesterday that the Oakley store that was at SP apparently moved to Concord Mills.....and Victoria's Secret is coming soon to CM

[mallguy]

In today's news: Simon is teaming up with some funds to make a bid for Mills Corp.- so if it goes through, Concord Mills and SouthPark could both be owned by Simon.

[SmellyCat]

Unless there is a topping bid, this takeover will be approved. This would be great news for this mall, as Simon is without a doubt the superior mall operator in the U.S., if not the world.

[mallguy]

Unless there is a topping bid, this takeover will be approved. This would be great news for this mall, as Simon is without a doubt the superior mall operator in the U.S., if not the world.

Looks as if Mills has accepted Simon's offer now, although there could still be a battle ahead. Interesting to have Charlotte's two most thriving malls (in my view) owned by the same landlord.

[SmellyCat]

Latest rumor on Mills is that New York-based Vornado Realty (VNO) is taking a hard look at possibly upping the ante on Simon. VNO just lost a bitter takeover battle on Equity Office Properties to Blackstone and obviously has a lot of dry powder at their disposal to make an acquisition.

[Temeteron]

Kind of off subject, but I noticed that Arizona Mills has been taken over by Taubman(the same company that owns Northlake). I really hope Simon acquires Concord Mills. Simon has some of the best malls in the country and really knows how to turn around a mall(not that CM is having problems, but you know)...

Edited February 14, 2007 by Temeteron

[Temeteron]

After several complaints from customers, Concord Mills is banning smoking at outside entrances....if someone can post the link it would be great! I suck at doing that!

[Neo]

After several complaints from customers, Concord Mills is banning smoking at outside entrances....if someone can post the link it would be great! I suck at doing that!

The ban will start on April 2nd:

http://www.charlotteobserver.com/122/story/59359.html

I for one give high praise to Concord Mills for doing this. Question, is this specific to Concord Mills or is this applied to all other Mills locations?

[Neo]

A Disney outlet store is coming to Concord Mills and will open this summer.

I thought Disney stores weren't doing so hot, this would seem to be contradicting to that belief.

Source

[StevenRocks]

A Disney outlet store is coming to Concord Mills and will open this summer.

I thought Disney stores weren't doing so hot, this would seem to be contradicting to that belief.

Source

Disney (really a licensed store run by The Children's Place) is shifting out of traditional malls, but there will still be Disney stores.

The Disney outlets are a great idea. The target customer is the same as the one for Concord Mills; families with kids.