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Eastland Mall Redevelopment

DigitalSky

By DigitalSky
in Charlotte

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voyager12 Town

voyager12

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I think the growing multiculturalism of the Central corridor could attract some ethnic retailers to or near the mall. Similar to the stores already along Central and South but larger like the Asian foods mall. Or they could start a weekend market in the parking lot. That would make Eastland more unique and give it an identity.

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KJHburg
KJHburg

I just reread the article about these tennis and swim center proposals and the Target.  I say don't do either the swimming or tennis and sell part of the land for a Target and use that land sale money

JRCLT
JRCLT

Kayman, I understand your advocacy, but I don’t like your tone toward KJ with how you’re trying to convey those valid important sentiments and issues with the black and brown community in that area.

lit
lit

At this rate, I feel like we're eventually going to circle back around and someone with a bunch of money will be like "this would be the perfect spot for a Mall"

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DigitalSky City

DigitalSky

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I think the growing multiculturalism of the Central corridor could attract some ethnic retailers to or near the mall. Similar to the stores already along Central and South but larger like the Asian foods mall. Or they could start a weekend market in the parking lot. That would make Eastland more unique and give it an identity.

I think that you're right about the multiculturalism. I think Eastland could be most succesful as a large int'l market/mall, honestly.

If Sears bothers to move they'll leave Eastland.

True. They still could possibly build at Bridges @ Mint Hill or Stallings Mall

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MZT Burg

MZT

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Ah, capitalism. The more desperate a seller appears to be, the lower the offers go...

It's unfortunate, because Eastland is still an important local anchor for the mom'n'pop markets along Sharon Amity and Albemarle. The ripple effect of Eastland closing, would put a bigger hole in the area than I think many people realize. It would go from current ramshackle, to "Freedom Blvd" style ghetto.

Edited by MZT
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mallguy Town

mallguy

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And the mall still has a decent number of national chains, from Lenscrafters to Radio Shack to Dillard's.

I was thinking that the mall has a future, since it's mostly occupied and has a good amount of customers, but if it's just not profitable, then Glimcher probably couldn't even give it away, except to someone who wanted to risk his luck.

Too bad!

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StevenRocks City

StevenRocks

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I was thinking that the mall has a future, since it's mostly occupied and has a good amount of customers, but if it's just not profitable, then Glimcher probably couldn't even give it away, except to someone who wanted to risk his luck.
It'll go for a low price, but in the right investors' hands, the place could be profitable again. Having the transit hub literally in the mall's front yard is a plus, along with loads of developable land in the unused parking lots.
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SmellyCat Burg

SmellyCat

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Glimcher really has done a poor job with this sale. Their original price expectations were far too high for what a "B-/C" mall in a blighted area could ever fetch. The lack of execution is definitely reflective of the quality of its management, as, not surprisingly, their stock performance has badly trailed other mall REITs over the past several years.

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mallguy Town

mallguy

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Glimcher really has done a poor job with this sale. Their original price expectations were far too high for what a "B-/C" mall in a blighted area could ever fetch. The lack of execution is definitely reflective of the quality of its management, as, not surprisingly, their stock performance has badly trailed other mall REITs over the past several years.

I take it that Glimcher's strategy is to run low-end/distressed malls? Its portfolio seems to have a lot of malls with "Future Anchors" listed.

Or maybe Glimcher just ran some decent malls so badly that they became distressed properties and lost anchors?

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uptownliving Town

uptownliving

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That transit plaza turned out nice...now we gotta start working on the mall so that when the streetcar starts running out there in 2010 or so it has something to go to. I know that the redevelopment of Eastland Mall is one of the top things on the City Council's agenda and they have been shopping it around the country at various conferences. Hopefully something good will come of it.

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mallguy Town

mallguy

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Now even I won't go to Freedom Mall (too scary), and I'm generally pretty willing to visit a dying, run-down mall!

AJ's Indoor Flea Market, in the former Hannaford, is open.

The mall just looks even more downtrodden than ever, with the exterior of the Belk's in dire need of a fresh coat of paint. I was there on Saturday and didn't see any other stores leaving or coming. The interior of the mall seems pretty well leased, with only a few vacancies. The rent must be really, really low, as the mall apparently isn't profitable and Glimcher seems to be having a hard time selling it.

Edited by mallguy
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StevenRocks City

StevenRocks

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The mall just looks even more downtrodden than ever, with the exterior of the Belk's in dire need of a fresh coat of paint. I was there on Saturday and didn't see any other stores leaving or coming. The interior of the mall seems pretty well leased, with only a few vacancies. The rent must be really, really low, as the mall apparently isn't profitable and Glimcher seems to be having a hard time selling it.
With Bridges at Mint Hill apparently stuck in neutral and Northlake dropping, Eastland may have some hope yet as a mall, but I think Belk, Glimcher, et al, have officially decided to stop putting money back into Eastland. Edited by StevenRocks
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DigitalSky City

DigitalSky

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With Bridges at Mint Hill apparently stuck in neutral and Northlake dropping, Eastland may have some hope yet as a mall, but I think Belk, Glimcher, et al, have officially decided to stop putting money back into Eastland.

You know what, I agree. Even though Eastland may be in this limbo or purgatory or whatever you want to call it, the lack of Bridges at Mint Hill going forward and the performance of Northlake may really work in Eastland's favor. I think it's all about luring the right stores now to make this place work.

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