[BobNJ1960]

Originally Posted by SteveM85

Maybe the writers invested in Malls. I don't know. You could be right. Maybe Bob's right. I tend to err on Bob's side with this but who knows. Only time will tell.
If you're talking about NJ and out west, where malls are a rite of passage, then yes, absolutley.

Between "Refreshment centers (a/k/a empty stores)", LA Fitness, Dave & Busters, and the empty Sears, plus empty smaller units, my hunch is about 30% of what was retail square footage just 5 years ago at the Connecticut Post is either non-traditional usage generating rent, or empty square footage not generating rent.

I have no doubt something will exist in 2025 on that land. i have significant doubts anything other than a minority % of the land will be for use as retail storefronts.

Amazon has added several distribution centers in Ct, and now they want mall space also.

It is NOT due to total Ct spending being up. Sales & Use Tax collections are not up anywhere. It is because, Ct folks, like those around the nation, are opting to buy more online, less in person.

On a personal note, my deliveries this year of stuff I used to buy in stores should be up about $1k by year end. My family is in the same boat. These are not prescriptions, but rather stuff from clothing and household good stores online ordering websites.

PS: The apartments, once approved, will no doubt be an independent LLC, so its cash flow will not aid the mall. It will be viewed as 2 distinct businesses, as it should be.

[JayCT]

I’m not sure why people think that Amazon will take an empty department store and turn it into a warehouse and distribution center alone. I’ve heard that Amazon is currently developing what these centers will actually be like. It could be an Amazon store and maybe even a Whole Foods with it, much like Sears and JC Penney’s were like when they had catalog sales. It definitely won’t just be a warehouse. Jay

[BobNJ1960]

Originally Posted by JayCT

I’m not sure why people think that Amazon will take an empty department store and turn it into a warehouse and distribution center alone. I’ve heard that Amazon is currently developing what these centers will actually be like. It could be an Amazon store and maybe even a Whole Foods with it, much like Sears and JC Penney’s were like when they had catalog sales. It definitely won’t just be a warehouse. Jay

Doubt its anything but a warehouse. That is where the profits are-distribution w/o having dozens of staff talking to each other hours when no one is shopping.

Especially now, as malls desperate, Amazon knows it, can get great leasing deals.

[JGBigGreen]

Amazon is already in talks with Simon to transform empty mall department stores into distribution centers:



https://techcrunch.com/2020/08/09/ab...llment-center/


It makes perfect sense from Amazon and the mall's perspective.

Originally Posted by JayCT

I’m not sure why people think that Amazon will take an empty department store and turn it into a warehouse and distribution center alone. I’ve heard that Amazon is currently developing what these centers will actually be like. It could be an Amazon store and maybe even a Whole Foods with it, much like Sears and JC Penney’s were like when they had catalog sales. It definitely won’t just be a warehouse. Jay

[JGBigGreen]

Yeah, I doubt, given the current fear of many shoppers, Amazon is going to develop a retail store. Only thing that makes sense is smaller distribution centers to be even closer to customers.

Originally Posted by BobNJ1960

Doubt its anything but a warehouse. That is where the profits are-distribution w/o having dozens of staff talking to each other hours when no one is shopping.

Especially now, as malls desperate, Amazon knows it, can get great leasing deals.

[BobNJ1960]

Originally Posted by JGBigGreen

Yeah, I doubt, given the current fear of many shoppers, Amazon is going to develop a retail store. Only thing that makes sense is smaller distribution centers to be even closer to customers.

Simon was rumored to be talking of buying Joseph A Banks and/or JCP. I would not put it past them and Amazon to arrange a deal for Amazon to be a 3PL to sell Banks and JCP online, shutting down each retailer's online system. No one can match Amazon's efficiency or market reach. Simon wants them, no doubt, to arrange a bankruptcy lease settlement , so it does not have to write off a massive amount of unpaid rent. It can then run the stores to deplete inventory, then shift to a 3PL online presence only.

[robr2]

Originally Posted by BobNJ1960

Simon was rumored to be talking of buying Joseph A Banks and/or JCP. I would not put it past them and Amazon to arrange a deal for Amazon to be a 3PL to sell Banks and JCP online, shutting down each retailer's online system. No one can match Amazon's efficiency or market reach. Simon wants them, no doubt, to arrange a bankruptcy lease settlement , so it does not have to write off a massive amount of unpaid rent. It can then run the stores to deplete inventory, then shift to a 3PL online presence only.

Simon is working with a number of other companies to acquire some retailers for a number of reasons:

- JCP owns some of the real estate at Simon malls, Simon wants to pick it up for cheap
- Simon can partner with other vultures that have picked up Forever 21, Anne Klein, Joseph Abboud, Barney's and perhaps Brooks Brothers, Jos Banks/Men's Wearhouse
- those brands can be sold through a Simon owned JCP perhaps raising their profile and profits
- Simon can then ensure that JCP survives and they can continue to collect rent.

[SteveM85]

Originally Posted by Stepfordct

Not buying any stocks just yet. Took 20 yrs after 29 to get to parity, 8 after Dot.com, 6 after housing collapse.
Until we are the downhill of the new cases rate or a cure/vaccine....I don't see the market going up.
Buy only companies sitting on loads of cash.
Amzn, Wm, sure...

Keep in mind you can now access your 401k etc w/o tax penalties.
Many will be living off money they pulled out of the market.
This is not the same as before....

It's even better, only took 4 months to recover this time.

[JayCT]

Originally Posted by BobNJ1960

Doubt its anything but a warehouse. That is where the profits are-distribution w/o having dozens of staff talking to each other hours when no one is shopping.

Especially now, as malls desperate, Amazon knows it, can get great leasing deals.

No, this was on one of the financial cable channels recently. They were talking to an expert in the retail field about this and this expert said that Amazon wants to get into brick and mortar stores in addition to their online business. That was why they bought Whole Foods. If they did not eventually want brick and mortar stores, why did they buy them?

This expert said that this would be a new concept for Amazon. It would feature them selling key best selling items directly as well as pick up of online orders. The emphasis though would be pick ups. He also said that Amazon is well aware that many towns won’t allow a warehouse to be attached to a prominent mall in a prominent location. They know therecwould be a lot of opposition to a building with a line of loading docks in these areas.

The expert also noted that Whole Foods is having trouble finding good locations for new stores and food distributions centers in many markets. They mentioned that Amazon is looking at mall locations for Whole Foods just like Stew Leonard’s new store at the Paramus Park Mall in the mall capital of the world, Paramus, New Jersey. I can see Whole Foods being added to a mall like Westfarms, Crystal Mall, Buckland Hills or even Meriden. These malls do not have any Whole Foods nearby yet are not far from more affluent customers. Who knows. Jay

[Stylo]

Originally Posted by JGBigGreen

Yeah, I doubt, given the current fear of many shoppers, Amazon is going to develop a retail store. Only thing that makes sense is smaller distribution centers to be even closer to customers.

They do have some small retail stores.

https://www.amazon.com/find-your-sto...de=17608448011

IMO it's only a matter of time before they try to compete with Target/Walmart in a brick and mortar with local 1-2 hour delivery like they did with Whole Foods. I could see them buying an existing big box retailer.

Amazon doesn't care about the "current fear"–people will be over this in a year and they're thinking long term.