Ashley Lutz
Sep. 3, 2016, 8:17 PM
One in six American malls are expected to disappear in the next decade. That’s scary news for many communities.
Visits to malls declined by 50% between 2010 and 2013, according to real estate research firm Cushman & Wakefield. Analysts expect upcoming data will show an even steeper drop in mall traffic.
Mall closures could have terrifying implications for communities, Howard Davidowitz, chairman of Davidowitz & Associates, a national retail-consulting and investment-banking firm, told Business Insider.
https://www.businessinsider.com/what-will-happen-when-malls-shut-down-in-america-2016-9
Malls kill cities. The mall in this picture is nothing more than Union great in action.
The disappearance of malls=no great loss. When Lord &Taylor (eventually) and Sears and Macys (sooner) go out of business Paramus will have a challenge repurposing the retailing that transformed it 50 years ago. Maybe a regional medical facility? You listening Valley?
Tbe decline in malls is in line with the rise in delivery trucks.
“The disappearance of malls=no great loss. When Lord &Taylor (eventually) and Sears and Macys (sooner) go out of business Paramus will have a challenge repurposing the retailing that transformed it 50 years ago. Maybe a regional medical facility? You listening Valley?”
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Wow. Really?
Did you pay attention in finance class?
The loss of revenue from malls to Paramus will have a great negative effect that will not be recovered when a non-profit hospital (or even a for profit ) moves into that space..
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How do you plan of providing all of those giveaways and goodies (like full day K) that residents demand as if its their birthright?
How will “the government” provide them?
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I posted 10:12–I meant no great loss to most Americans, I did not mean no great loss to Paramus ratables. They are in line for a big hit. They sold their souls and their town a half-century ago to become a retail mecca. That is eroding rapidly and won’t be replaced by the same level of ratable. They will need to do something with the space (and the abundance of parking!!).
Is it too far to walk to the Ridgewood train station?
this is one big fuckin scam, oh yeah a mees to.and a waste of money.