Shopping In Ghost Town

[Mark K]

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[Mark K]

Maybe they should start using eminent domain to help the blight.

Give them time. Some of those large shopping centers sites are desirable real estate that can be redeveloped into nice parks or government buildings!

Well that at least applies to guys...one of my ex's, shopping was an adventure and an expensive adventure at that.

"One of my ex's...." You are a slow learner. I'm thinking her adventures are now virtual, except the spending, its as real as it ever was.

 

[Flakey]

https://www.bloomberg.com/news/arti...ults-are-soaring-and-pe-firms-have-no-way-out

 

[Joe Flacco]

My wife loves malls.

 

[Amy Perkins]

The article said that the rents were increasing but so was the vacancy. Everyone just cares about the price not the real income. Why is it that everyone just looks at the stock price and not the dividend? I think it's all got to be over leveraged, where else does the money come from? Something isn't penciling out here. Young people need to get married have children and spend money for the economy to work. They aren't spending very much except on food and rent. I wonder where the teenagers go for fun?

 

[Randolph Kinney]

Look at what job demand has grown the most over the last 10 years.

Combined food preparation and serving workers, including fast food

Janitors and cleaners, except maids and housekeeping cleaners

Waiters and waitresses

Customer service representatives

Stock clerks and order fillers

https://www.bls.gov/emp/ep_table_104.htm

 

[Mark K]

I wonder where the teenagers go for fun?

Best I can tell, they're either playing soccer 5-6 days/week starting at about 3 yrs. old or being sucked into their phones with their virtual friends. They don't have to go anywhere; the whole world is right at their fingertips.

 

[George Hatch]

I'm curious-for those of you who are commercial appraisers in larger metro areas (or perhaps even smaller), are you seeing any increase in warehouse activity/occupancy rates? I would think as retail continues to shrink at the cost of online shopping, that more localized warehousing would be growing, especially with amazon, drone shipments, same/next delivery promises, etc.

Anyone have any insight?

One property type that has been expanding in our region has been the super-large distribution centers. As in, 3-5 acres (or more) under one roof. I can think of a couple market areas in this region where the price/sf for the larger sites that can be built out with such a building are actually *higher*, not lower, than the smaller parcels they side to. In a few cases the differences in value are enough that the developers are assembling multiple parcels from different sellers to create the big ones.

 

[George Hatch]

We have a mall nearby. All 3 of the remaining anchor tenants are businesses that are on the ropes; Sears, JC Penney and even Macys. The other anchor tenants left a long time ago. The interior is almost a ghost town , probably 50% of the spaces are vacant. So the property owners are redeveloping the buildings with a large 24-ht fitness center, a new movie theater (WTH?) and a bunch of casual dining restaurants. Most new retail construction seems to be geared toward services, not merchandise.

Which, during an economic downturn are really going to get hurt when people decide to do their own cooking, do their own hair/nails, and watch Netflix at home instead of going to a movie theater.

 

[George Hatch]

Best I can tell, they're either playing soccer 5-6 days/week starting at about 3 yrs. old or being sucked into their phones with their virtual friends. They don't have to go anywhere; the whole world is right at their fingertips.

Teens don't need to cruise the malls looking for the hookup any more. It's on their phone.