Quote:
Originally Posted by laumag
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That portfolio is full of dead mall vibes. Some of the large mall operators in the USA facing the reality of the 2008 economic recession noticed countless retailers going bankrupt and scaring their properties with vacant and effectively unleasable spaces. What they then started doing was buying up store brands out of bankruptcy and operating them as these sort of ghost stores. They have inventory, they sell stuff, but their main purpose to to be a liminal place until something better needs the space.
That Eddie Baurer is closing in the dead mall wing of Polo Park is itself somewhat ironic. It also has not operated continuously in Polo having previously closed after either the 2003 or 2009 bankruptcy.
Filling your mall spaces with Calendar Club, Eddie Baurer, Aeropostale, Nine West, Lucky Brand, etc. doesn't fool anyone that matters to retail leasing. The desperation is clear and everyone knows what is going on. That Polo has all the high value tenants clustered on the south side of center court and mostly ghost retailers on the north side of the mall is definitely no accident.