AMC bids for new location

[fsubelch]

A friend of mine works at the Tallahassee Mall, and they were given news yesterday that the mall has filed for bankruptcy again. I know this topic has been talked about in the past and I am not sure the details of this filing but my post is to talk about the AMC theater. They have put a bid in for the old compusa location. I believe FL said in a different thread that this location used to house a theater. Anyone know any details about this?

[TD]

A friend of mine works at the Tallahassee Mall, and they were given news yesterday that the mall has filed for bankruptcy again. I know this topic has been talked about in the past and I am not sure the details of this filing but my post is to talk about the AMC theater. They have put a bid in for the old compusa location. I believe FL said in a different thread that this location used to house a theater. Anyone know any details about this?

[fsubelch]

Building up (multi story) would be the only way to make that area visible form the road too.

[AlaninTally]

Sounds like bad news to me....AMC coming to Tally Mall essentially helped dig it out of being the "crappy mall" of old. Now it seems if this rumour is true, it will revert back to that...Having an AMC at that location was a driving point for me to shop there.

From reading (catching up) on posts on other topics, it seems Tally is going through a Big Box Shuffle. Winning and losing at the same time.

[fsubelch]

From the sounds of the story I was told the Tallahassee mall may not be with us much longer. At least not in the state it is now? I wish I knew more of the ends and outs of the business side of the mall and there bankruptcy but I do not...

I have always wondered why we have the 2 malls? Wouldn't the city be better off with one nice mall rather then one decent mall (Gov Square) and one not to hot mall (Tallahassee mal)?

[Go Gators]

^ absolutely.

[Florida]

A friend of mine works at the Tallahassee Mall, and they were given news yesterday that the mall has filed for bankruptcy again. I know this topic has been talked about in the past and I am not sure the details of this filing but my post is to talk about the AMC theater. They have put a bid in for the old compusa location. I believe FL said in a different thread that this location used to house a theater. Anyone know any details about this?

[Rachiroo]

Sounds like bad news to me....AMC coming to Tally Mall essentially helped dig it out of being the "crappy mall" of old. Now it seems if this rumour is true, it will revert back to that...Having an AMC at that location was a driving point for me to shop there.

From reading (catching up) on posts on other topics, it seems Tally is going through a Big Box Shuffle. Winning and losing at the same time.

[Florida]

Well this is still a rumor, so let's not try to doom ourselves so quickly.

Here's how I kinda see things:

Why would AMC move back to the CompUSA building, only to spend that money retrofitting that space and worrying about a parking shortage? Given the ample amount of parking available at the Tallahassee Mall, and the already popular destination that it is, I see no reason for this theater to move. However, I do understand that we are now in a period where all of the Mall's tenants are testing the waters everywhere else because the Departure of Dillard's allow them to do that.

Feldman Acquired the Tallahassee Mall in Mid-Late 2005 and has been slow moving on the revitalization.

Here's what they say they do:

FMP effects a complete turnaround via comprehensive renovation, re-tenanting and repositioning

Techniques include architectural redesign, creative layout, enlarging footage, increasing tenant quality and converting the mall into a “town center” of dining and entertainment.

Create stabilized premier Class A assets

Transform malls into attractive retail destinations driving higher shopper traffic & tenant sales

FMP focuses on growing net asset value (NAV) per share

FMP increases rental rates as tenant sales improve

I believe if they can complete the task of re-tenanting the mall, everything else will fall in place.

[jpl02]

I guess I'm planning for a worst case scenario of the mall closing........

The Tallahassee Mall would make a great addition to FSU. Lots of dead malls across the country have been redeveloped as additions/annexes of colleges.

I'd like to see it be redeveloped in the fashion of Tampa's NetP@rk, but this town is lacking in those industries, so FSU (or FAMU or TCC) is a better match to take over the place.

Would a flea-market type mall be a better fit for building, given the area that it's in?

[Florida]

Would a flea-market type mall be a better fit for building, given the area that it's in?

[Florida]

From Feldman:

Dear [Florida]:

AMC Theatres has over 8 years remaining on their lease. We have no knowledge that AMC is interested in relocating. I believe it is an unfounded rumor.

We are working with several prospective anchors to replace Dillard’s. Hopefully, we will have good news in the near future.

Best,

[Rachiroo]

From Feldman:

Ken Snyder

Director of Leasing

Feldman Mall Properties

[fsubelch]

May I ask what your source is for this AMC story, fsubelch? Are you allowed to say?

[Go Gators]

Nobody likes to admit that their ship is sinking. "Everything is fine." I wouldnt have expected his response to have been any different from that.

[fsubelch]

As the director of leasing for Tallahassee mall stated:

"We are working with several prospective anchors to replace Dillard

[Florida]

I was thinking the same thing. Those are exactly the type of stores the mall needs to get rid of.

[fivesfella]

I was thinking the same thing. Those are exactly the type of stores the mall needs to get rid of.

[fsubelch]

At this point, I suspect they'll take anyone who will pay rent.