Reply With QuoteAnd ... what?Originally Posted by PalmTree
Walden Galleria Mall is FOR SALE !
And ... what?
P L E E E E E A A A A S S S S S E E E E..............
http://blog.syracuse.com/news/2007/0...up_for_sa.html
Robert Congel said Monday his family trusts may put his portfolio of super-regional and regional shopping centers in New York and Massachusetts up for sale again, with the exception of the Carousel Center and the planned Destiny USA project
The Pyramid Cos. have begun a review of "strategic alternatives,"
The sky is not falling now....... Just a shift in business strategy going on...
Small businesses it is a personal attachment on medium to large business it is just a name on a piece of paper.
Former BIC pens are used in the latter fountain pens are used.
They probably want some serious capital for the DestinyUSA project.
That must mean it is going to close down! ! ! Oh NO ! What is going to happen now? ! ! !
Americans don't solve social problems...they just move away from them
A lot of the stores in Walden Galleria have decided not to renew their
leases. On top of their are having a very hard time trying to bring new retail stores into the mall because of the area's very weak or very poor economy.
As evident by their current expansion.
Well first of all, it's not really an expansion,
They torn down the Old Bon Ton store because it was hopeless that they could get a major anchor department store to come in. They took retail space and coverted into a couple of restaurants & torn down the old movie screens and are replacing them with stadium seating movie screens. But the biggest part of the project is (or sqft) is the new parking ramps, (sounds kinda like the proposed Pro Bass deal, surround by all the parking ramps with fancy exterior's
Also look at St. Joe's (brand New ER's OR's) they are Closings that up.
Better yet. Look at Top's, they remodeled alot of their stores and then put
them up forsale (But No One want's them and they went up for Auction, and still No Want's them)
If I was to try to think of a statement that was less true, I probably couldn't top that.
I personally know that abuelos mexican foodembassy is trying to currently get out of the lease that they signed with the mall. The fact is that they want monthly lease, and on top of that a percentage of sales. that was a while ago. how do i know i inquired about a place myself a long time ago.
It's hard to believe that any retailer, especially a restaurant, would make the required improvements to open their business, without the security of a long-term lease.
I think someone is feeding you wrong information.
That's called "remodeling"They took retail space and coverted into a couple of restaurants & torn down the old movie screens and are replacing them with stadium seating movie screens. But the biggest part of the project is (or sqft) is the new parking ramps, (sounds kinda like the proposed Pro Bass deal, surround by all the parking ramps with fancy exterior's
I havent been to the movies at the Galleria lately, but stadium seating is the latest thing in comfort. I patronize REGAL theaters for precisely that reason.
I was just there 15 minutes ago and it did not look like there was many empty store locations. They fill up quickly when there is space available. Bed bath & beyond is moving to the consumer sqaure.....
All shopping malls charge a base lease then go buy gross reciepts when determaning monthly rent. This is nothing new..... It always been that way.
Yeah, getting all these new stores (many aimed at more upscale demographics) must mean our region is declining real fast!
Pyramid Portfolio Could Trigger REIT Treasure Hunt
Apr 4, 2007 2:30 PM
The largest privately-owned regional mall portfolio in seven years may be about to hit the market. The Pyramid Companies, a Syracuse, N.Y.-based privately held developer which owned 19.5 million square feet of retail space as of April 2006, said earlier this week that it is exploring selling all but one of its 20 properties. If it sells the portfolio, Pyramid would shift its focus to its long-proposed project of transforming the 1.6-million-square-foot Carousel Center in Syracuse, N.Y. into a 4.5-million-square-foot retail and entertainment site called DestiNY USA.
http://retailtrafficmag.com/investme...treasure_hunt/
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