The Summit

[VistaLakes01]

I really think "this area" (Birmingham, Huntsville, Nashville) will benefit from these difficult, uncertain times. I have been to Tampa on several occasions recently to their luxury mall (International Plaza) and seen almost noone there during prime shopping hours. Some areas of the country have been devastated by housing prices falling sharply, job losses...and "this area" seems to be riding the wave thanks to many variables. Here in Huntsville, we were one of ten cities that saw housing prices appreciate, and we are certainly blessed to be tied heavily into defense -- high-paying, relatively secure jobs. Decatur had the greatest home appreciation in the COUNTRY. In Birmingham, when you go to The Summit, it is still (like always) packed with cars -- packed -- with people actually shopping and eating out. And, what a testament that stores like Brooks Brothers open in times like this. Nashville is somewhat protected by being so connected with the heathcare industry. Nashville and Birmingham both have retail centers that are capable of growth and evolution. Huntsville keeps chugging along. Anyway, the point is that when things start turning around, I think restaurants and retailers will turn to "this area" because it will not be left nearly as devastated. Yes, we are all affected; but, we are not in the shape that parts of Florida or California are (or about anywhere else). We have room to grow and improve, and we are rapidly becoming an oasis for people who see the relative safety in this area. They can afford a home and afford to shop and eat out if they move here. Their homes will retain their value here. They have some job security here. As people come, developers and big names follow. Regardless of that, I just think our being able to ride the wave without sinking will allow us to be a "starting point" when banks start lending money and retailers have enough confidence to expand. I really believe these slow times, that could still last another year or two, will end up being a boom for us. Thank God for Bayer and how well it manages its properties. Sure, Harolds went bankrupt and liquidated -- no problem -- in comes Brooks Brothers. Saks' Summit store is a very, very poor performer; but, should something happen to that store or Saks itself, I'm fully confident something even more appropriate will backfill it. "This area" is really a joke for so many, but we really are lucky to live here.

International Plaza in Tampa started to decline soon after opening, before the recession. WHen it Lost Lord &Taylor it was replaced by a Robb & Stucky burniture store. Nordstrom,Dillards and Neiman Marcus became the other anchors at that point. The mall is not very grand looking at all, narrow walkways, no real physical attraction to it. It is also right down the street from West shore Plaza which has a lot of upscale and movie theater. Florida's economy is in bad shape, but Mall at Millenia in Orlando or Florida Mall in Orlando seems to be suffuring, The current anchors at Florida Mall are Sears. JCPenney, Saks 5th Ave, Dillards Flagship store, Nordstrom and Macy's. The Macy's at Millenia is totally special, tons of merchandise not seen at any other area Macys and is huge. Bloomingdales is definetley a plus as well as Neiman Marcus. The architecture is beautiful and high quality. Plus having IKEA next door is a plus. Retail in Miami seems to be doing ok. Both Orlando and Miami see a lot of foriegn visitors so business has been staying up. Also Florida Mall just opened another Armani Xchange in the mall, that is in addition to another locattion at Pointe Orlando. Also. the metro has two H & M stores opening, one in Seminole Towne Centre on the northside and one in Florida Mall on the southside. Orlando seems to be hanging on from a retail perspective. We have several neighborhood/village centers with nice restaurants and theaters. And then we also have several outdoor Mega-malls, Waterford Lakes Town Center, The Loop, The Gardens at Fowlers Groves, and Posner Park. Trendy Upscale Botique shopping on Winter Parks Park Avenue as well as the same developing downtown and College Park, There's also Baldwin Park, Winter Park Village, Colonial Town Center, Sand Lake Commona, Avalon Park, Downtown Winter Springs, Uptown Altamonte. And All the enclosed Malls seems to be hanging in there pretty good.....Downtown Orlando there's Orlando Fashion Square anquored by Sears, Macy's, Dillards, JCP, West Oaks Mall: Dillard's JCP, Sears, Belk,: Altamonte Mall. Sears . JCP. Macy's. Dillards, Barnes and Noble Superstore..Florida Mall, Sears, JCP,Saks, Nordstrom, Dillards, Macy's, Floridal Mall 20 Floor hotel, Millenia, Macy's, Bloomingdales, Neiman Marcus, Crate and Barrel, Zara, Seminole Town Center. Sears. Dillards, JCP, Belks, MACY'S, H & M. So we nay be hard hit by the recession, but retail, while slow, is nowhere near dead.

[bhamsly]

Yesterday while in Brookwood Village, I spoke with a young lady who works for Abercrombie & Fitch at the Galleria, and she told me that the Abercrombie at The Summit is supposed to be closing. I would hope that this information is incorrect, but I will not doubt it. The Summit and the Galleria should seriously work together, and not compete for tenants. The Summit has stole many stores from the Galleria, however the Galleria has kept/will keep some stores while The Summit lose the same stores because the enviroments of the 2 centers. They are just too close to one another for the same stores. Birmingham is large enough that it should be able to have mutiple locations of certain stores. If the mall in Liberty Park was ever built, this would not be an issue. It would have even helped Brookwood Village because it would be far enough away from it for it to keep a lot of the business that it loses to The Summit. People are not going to go to The Summit,and just walk around hoping to see something that catches their attention, but they would at Brookwood and the Galleria...hence the Levi store before it closed(bad location prior to it's closing).If the Liberty Park Mall was ever built, we probably would have seen many higher-end and luxury retailers open and remain open in Birmingham, and if anyone would have been affected by this it would have been Century Plaza, Eastwood(both were inevitably no competition for newer retailers), and The Pinnacle. Please do not get me wrong because I frequent The Summit to my favorite stores found nowhere else in Birmingham, but most of my shopping gets done at the Galleria or Brookwood. I just think the location or timing of The Summit could have been altered a lot.

[101_ce]

Yesterday while in Brookwood Village, I spoke with a young lady who works for Abercrombie & Fitch at the Galleria, and she told me that the Abercrombie at The Summit is supposed to be closing. I would hope that this information is incorrect, but I will not doubt it. The Summit and the Galleria should seriously work together, and not compete for tenants. The Summit has stole many stores from the Galleria, however the Galleria has kept/will keep some stores while The Summit lose the same stores because the enviroments of the 2 centers. They are just too close to one another for the same stores. Birmingham is large enough that it should be able to have mutiple locations of certain stores. If the mall in Liberty Park was ever built, this would not be an issue. It would have even helped Brookwood Village because it would be far enough away from it for it to keep a lot of the business that it loses to The Summit. People are not going to go to The Summit,and just walk around hoping to see something that catches their attention, but they would at Brookwood and the Galleria...hence the Levi store before it closed(bad location prior to it's closing).If the Liberty Park Mall was ever built, we probably would have seen many higher-end and luxury retailers open and remain open in Birmingham, and if anyone would have been affected by this it would have been Century Plaza, Eastwood(both were inevitably no competition for newer retailers), and The Pinnacle. Please do not get me wrong because I frequent The Summit to my favorite stores found nowhere else in Birmingham, but most of my shopping gets done at the Galleria or Brookwood. I just think the location or timing of The Summit could have been altered a lot.

Really? Thats not good. Apparently they are not doing that good in AL. The one in Montgomery closed a few months ago.

[101_ce]

Yesterday while in Brookwood Village, I spoke with a young lady who works for Abercrombie & Fitch at the Galleria, and she told me that the Abercrombie at The Summit is supposed to be closing. I would hope that this information is incorrect, but I will not doubt it. The Summit and the Galleria should seriously work together, and not compete for tenants. The Summit has stole many stores from the Galleria, however the Galleria has kept/will keep some stores while The Summit lose the same stores because the enviroments of the 2 centers. They are just too close to one another for the same stores. Birmingham is large enough that it should be able to have mutiple locations of certain stores. If the mall in Liberty Park was ever built, this would not be an issue. It would have even helped Brookwood Village because it would be far enough away from it for it to keep a lot of the business that it loses to The Summit. People are not going to go to The Summit,and just walk around hoping to see something that catches their attention, but they would at Brookwood and the Galleria...hence the Levi store before it closed(bad location prior to it's closing).If the Liberty Park Mall was ever built, we probably would have seen many higher-end and luxury retailers open and remain open in Birmingham, and if anyone would have been affected by this it would have been Century Plaza, Eastwood(both were inevitably no competition for newer retailers), and The Pinnacle. Please do not get me wrong because I frequent The Summit to my favorite stores found nowhere else in Birmingham, but most of my shopping gets done at the Galleria or Brookwood. I just think the location or timing of The Summit could have been altered a lot.

But then again, A&F is closing some of their less profitable stores when the lease ends.

[Nitek_Mobilian]

Really? Thats not good. Apparently they are not doing that good in AL. The one in Montgomery closed a few months ago.

Well, I'm not really surprised the A&F store in Montgomery closed, they closed the smaller abercrombie store that was next to it years earlier. Hopefully, they won't pull out of Mobile and Huntsville.

Back on topic: this closure just frees up more space for higher end retail at The Summit.

[101_ce]

Well, I'm not really surprised the A&F store in Montgomery closed, they closed the smaller abercrombie store that was next to it years earlier. Hopefully, they won't pull out of Mobile and Huntsville.

Back on topic: this closure just frees up more space for higher end retail at The Summit.

I dont think they will. What will go in there? I dont think that there is an upscale store that needs ~8,000 square feet that is not already at the Summit.

[DigitalSky]

I posted this in the Charlotte forum in the Belk logo thread, here's the photo from The Birmingham News of Belk's new logo at The Summit, one of the first stores to get the new logo:

http://blog.al.com/businessnews/2010/10/belks_kicks_off_rebranding_cam.html