Suburban Malls and Associated Retail News

Twin Cities Suburbs
candycaneforestelf
Block E
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Joined: May 7th, 2018, 8:56 pm
Location: Carver County

Re: Suburban Malls and Associated Retail News

Postby candycaneforestelf » June 15th, 2020, 3:59 pm

I hope Eden Prairie Mall takes a queue from Southdale and starts to develop the outlots with housing. The JCPenney at EP Mall is within a 1/2 mile walkshed of the Town Center light rail station.
JCP is also immediately next door to existing grocery in Target and across 78th from Cub.

Walking friendliness of Flying Cloud itself is still lacking to get to the Town Center Station, however.

HiawathaGuy
Wells Fargo Center
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Re: Suburban Malls and Associated Retail News

Postby HiawathaGuy » June 17th, 2020, 8:28 am

JLL takes over management at Eden Prairie Center; Scheels opens next month
*UNLOCKED*

The Eden Prairie Center shopping mall is now managed by Jones Lang LaSalle Inc..

The Chicago-based firm announced earlier this month it will provide property management and leasing services for the 1.3 million-square-foot mall located near the intersection of I-494 and highway 212. JLL (NYSE: JLL) also manages Rosedale Center in Roseville.


Here's hoping they make plans to develop a large swath of the parking lots at EP Mall, like they're planning for Rosedale Center.

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Anondson
IDS Center
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Location: Where West Minneapolis Once Was

Re: Suburban Malls and Associated Retail News

Postby Anondson » June 17th, 2020, 8:37 am

Does JLL have previous history owning malls and redeveloping them like that?

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VacantLuxuries
US Bank Plaza
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Re: Suburban Malls and Associated Retail News

Postby VacantLuxuries » June 17th, 2020, 11:22 am

It sounds like it's not something they push for on every property, but if the property is working well and the area conditions are right, it's something they pursue.

https://www.insider-trends.com/leading- ... he-future/
There is such a car culture in the US that it’s going to take a big change before shopping centres really have to start thinking about reducing the amount of parking that they have.

That said, a lot of our shopping centres are looking at adding more mixed use and taking some of those big parking lots and putting apartment buildings or offices on them to try to turn the centre from just pure shopping to a whole live, work and play environment. That’s really happening at the kinds of shopping centres that are already attractive.

candycaneforestelf
Block E
Posts: 21
Joined: May 7th, 2018, 8:56 pm
Location: Carver County

Re: Suburban Malls and Associated Retail News

Postby candycaneforestelf » June 17th, 2020, 12:17 pm

They'll probably only push if they can't find a suitable tenant for the JCPenney spot. The area around that (plus the back half of the Target lot) and the ramp outside of Von Maur are likely going to be the only significant empty swaths of parking lot left with Scheel's opening.

HiawathaGuy
Wells Fargo Center
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Joined: June 4th, 2012, 12:03 pm

Re: Suburban Malls and Associated Retail News

Postby HiawathaGuy » June 17th, 2020, 1:54 pm

Does JLL have previous history owning malls and redeveloping them like that?
From a Google search, it seems they've been picking up a lot of big malls in the past few years, with comments about upgrading/remodeling them to not be "malls", but more community assets. I think that would be a great thing for EP Mall. With JCP exiting, they can do a lot with the land and make it more than just a mall with vast parking lots. EP is a very desirable place for many - and with the green line ending there - more housing around the mall and adjacent stations seems like a win/win for everyone.

Rube Dali
Nicollet Mall
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Re: Suburban Malls and Associated Retail News

Postby Rube Dali » June 17th, 2020, 6:34 pm

The JC Penney store in the Eden Prairie Center is no longer on the list of stores to be closed by the retailer.

https://www.usatoday.com/story/money/20 ... 203417001/
Buildings, what buildings?

candycaneforestelf
Block E
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Joined: May 7th, 2018, 8:56 pm
Location: Carver County

Re: Suburban Malls and Associated Retail News

Postby candycaneforestelf » June 18th, 2020, 9:49 am

Outside of regional demographics, not sure how that makes sense.

It's basically never been busy anytime I've needed to go to that specific Target or somewhere else in the north end of the mall.

Tom H.
Rice Park
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Joined: September 4th, 2012, 5:23 am

Re: Suburban Malls and Associated Retail News

Postby Tom H. » June 18th, 2020, 3:03 pm

Interesting about the EP Penney's store. I think they had already started their going-out-of-business sales - must be awkward to walk those back.

QuietBlue
Target Field
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Joined: September 14th, 2012, 8:50 am

Re: Suburban Malls and Associated Retail News

Postby QuietBlue » June 18th, 2020, 3:44 pm

I remember when the Gordman's stores went out of business (the first time) with an everything-must-go sale, and then reopened less than a month later after being acquired by another company. Of course, now the ones that are left are closing again.

Tcmetro
Wells Fargo Center
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Re: Suburban Malls and Associated Retail News

Postby Tcmetro » October 6th, 2020, 7:13 am

This WSJ article says that Macy's announced it's closure at Burnsville Center in May. Currently, the mall is in foreclosure.

https://www.wsj.com/articles/commercial ... 1601985600

If Macy's closes, the mall has Dick's Sporting Goods and JC Penney left as anchors. That doesn't offer a lot of confidence about the mall's future.

QuietBlue
Target Field
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Re: Suburban Malls and Associated Retail News

Postby QuietBlue » October 6th, 2020, 7:58 am

I haven't been able to find any other mention of that location closing, so I'm not sure where they're getting their information from in that article. I wouldn't treat it as definite without verification.

Having said that, yeah, the mall is in rough shape. Even if the Macy's thing isn't true, Sears is gone, as is Gordman's (again), leaving two anchors whose companies aren't doing well and only one that's in a good position at the moment (Dick's). Plus there are a lot of vacancies within the mall itself.

Tcmetro
Wells Fargo Center
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Re: Suburban Malls and Associated Retail News

Postby Tcmetro » October 6th, 2020, 9:09 am

I looked for more info about the Macy's closing as well, but couldn't find anything.

It seems there's pretty strong demand for denser housing in Burnsville, so hopefully redevelopment can happen soon. The site looks like it was regraded when the mall was built and it's surrounded by wide roads, so there's definitely some challenges.


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