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January 22, 2019, 10:27:19 am
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Author Topic: Promenade Mall  (Read 9316 times)
Tulsa Zephyr
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« Reply #60 on: January 17, 2019, 04:50:48 pm »

If something doesn't happen soon, it'll become the largest QuikTrip in the world...
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"My ambition is handicapped by laziness."  Charles Bukowski
TulsaGoldenHurriCAN
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« Reply #61 on: January 18, 2019, 09:15:36 am »

The owner paid millions for this property, it is not going to just shut it down without a buyer lined up so long as it can keep generating some cash flow.  Plus, there are probably lease clauses that tie rent rates to occupancy levels/foot traffic, etc., so getting new tenants in is important to prop up rent rates for existing tenants.

I suspect few if any of the new tenants will be national chains, but the owner is trying to get as much of the mall occupied as possible.  That is a reasonable strategy under the circumstances.  The death of a mall is usually a long slow process.



Yes, obviously they're not going to just shut it down. No one suggested they would. But the way they're going about it shows that they want to suck every penny they can from it as a mall and kick the can down the road as long as possible, keeping a slowly declining "status quo" rather than try any sort of reinvention or innovative approach to bring in more customers.

There's a pretty good chance the market value of the mall and prospective tenants/rent has declined significantly since they bought it in 2013. If the retail collapse gets worse in future years and if Promenade remains looking somewhat bleak/dated and a recession comes, they might end up in a situation where they have to sell it for quite a bargain due to massive waves of closures. I won't feel any remorse for a big NYC firm not willing to invest in making it better.
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TulsaGoldenHurriCAN
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« Reply #62 on: January 18, 2019, 09:19:37 am »

If something doesn't happen soon, it'll become the largest QuikTrip in the world...

Like a Bucees? https://www.click2houston.com/community/new-50000-square-foot-buc-ees-location-to-open-monday-in-katy
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BKDotCom
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« Reply #63 on: January 18, 2019, 09:28:17 am »

The owner paid millions for this property, it is not going to just shut it down without a buyer lined up so long as it can keep generating some cash flow.


Could be playing the Sears long con.    Go bankrupt and sell the property off cheap to the CEO.
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Conan71
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« Reply #64 on: January 18, 2019, 10:12:35 am »

I suspect whatever tenants are replacing stores like Charlotte Russe and American Eagle are pop-ups and not chains, though I could be wrong.  None of the chains seem to be wanting to expand in malls at the moment...or anytime in the near future.
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dbacksfan 2.0
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« Reply #65 on: January 18, 2019, 10:27:27 am »


"Everything's bigger in Texas!"

Some people I know on a couple of other forums actually plan their trips so they can stop at one of their locations.
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