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Monday, March 30, 2015

Au courant de Malls...

There comes a time when someone questions there best judgement and realizes what they enjoy isn't all what its cracked up to be. In the automotive industry, its a bad day for the mechanic when he cannot figure out what is causing the car to not turn on, in fishing, its a bad day on the lake when none of the fish take to the new bate you are using, and in the mall industry, what causes a shopping center to prosper, and what causes it to go down.

Some prime examples of thriving malls in the business are the ones that are in the higher-class areas of the city and suburbs, "are we all caught up to speed, good, lets keep going." Its a combination of stores, location, geography, and demographic.

Where there is a surviving mall, there is one that has not lived up to shopper expectations. Take the Mall at Short Hills, in one of the many higher income towns of outer Newark suburbs, very popular, housing some of the highest end stores like Nieman Marcus, Coach, and Versace. While, and hour away, in Burlington Township, the Burlington Town Center has come down to only being occupied by a hand full of stores and Sears.
Mall at Short Hills- Short Hills, New Jersey
 This is a simple comparison of some primary examples of how trends and location effect malls, why does this course of action only happen to these specific properties out of all other possible choices. The Crestwood Court Mall in lower St. Louis is well known around dead mall blogs and websites for being empty and dumped by several buyers because of location and maintenance issues.

Former Famous-Barr/ Macy's at the now dead Crestwood Court Mall in St. Louis, Missouri
People are all too aware of how this affects there community, from taxes to crime rates, when there is an abandoned property, that drives other retailers out, causing taxes to get lower in the area, which causes a lower- class grouping of people to take to the area, and drive the overall value of the area down, and that is how good and bad sides of town are formed.

As scary as it seems, its the brutal trust that this is how issues in this countries economy form, based on conclusions like this, there are the good areas, and there are the bad areas, and they are stereotyped because of how property value drops, specifically malls and shopping centers.

Former The Broadway Department Store at the dead Hawthorne Plaza in Hawthorne, California
 Even if the mall is not on the best part of town, its the demographic that keeps the level of luxury to the standard that the owner wants, if is borders bad parts of town, there are places that keep the people in that area occupied from going to a better place, and causing trouble, or dragging the value down, I could be totally wrong, but I rarely ever am, I just over examine.

Its all about being all too aware of how this happens and based on where you live, is what keeps the mall thriving and what brings the mall to close.
The very posh South Coast Plaza in Costa Mesa, California
I have made this a very controversial topic, so if anyone has any questions or comments, please feel free to post below.

Thank you for reading

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