Library To Move To Southdale
The Hennepin County Board of
Commissioners voted on June 18th to negotiate a lease agreement to move
to the nearby Southdale Center. The existing library building will be
demolished and sold to brown-brick condominium developers.
Rojo Mexican Grill closed
its Southdale location
on June 3rd. Restaurateur Michael
McDermott said, “There’s
been a lot of changes at Southdale, a lot of people leaving.
Commenting on the library move, he said, “I just don’t think
that’s going to draw a lot of people, at least not our
will be locked
into Southdale rent
at $562,600 for each of the
first five years, with increases for the following 15 years.
artist rendition of the formerly Herberger's space with a library above
That has disappeared, because what could go wrong? Restaurant fires
result in direct property damage of $165
Music Association: Millie Cyrus
- Wrecking BallRetail Apocalypse
The Shopping Mall
Dinosaurs are gone. There is no good
reason to bring them back to life.
always dying and evolving.
general store killed specialty stores, which were then hit by
the Sears mail-order catalog and mass merchandising.
stores overtook general stores but were overtaken by mall
which were undercut by discount stores like Target and
which were almost overwhelmed by Amazon.
stores (in places), and specialty stores, mail-order catalogs,
department stores, shopping malls, discount stores, and e-commerce.
the Mall of America
opened in 1992, it was a risk. Nobody knew whether it would succeed or
fail. When it succeeded, it changed how the Twin Cities viewed the
Dales (Southdale, Rosedale, Ridgedale, & the late Brookdale).
Dales were no longer the pinnacle of shopping experiences in Minnesota.
(1.2 million retail sq ft) will always be in the shadow of the Mall of
America (2.5 million retail sq ft). The Mall of America has 555 stores,
an indoor amusement park, and an aquarium. What does Southdale have?
Developers want the land under the
County Library near Southdale, which is why it's slated to rent space
at Southdale. Southdale would get a tenant with rent money. Hennepin
County would get to sell prime land for more brown-brick condominiums.
are top shopping malls doing to survive?
valuable shopping mall* at $5.74 billion is Ala Moana Center
in Honolulu, Hawaii. It has an extreme advantage over mainland malls in
that there is no land available to build another mall. Its
area is 2.4 million sq ft with sales of $1,450 per sq ft.
Bloomingdale's took over for Sears (closed). Target took over for
Nordstrom (moved). Marshalls will replace Foodland. So the Ala Moana
anchors are Bloomingdale's, Macy's, Neiman Marcus, Nordstrom, and
Target. Discount retailers like Target and Marshalls in the mix signals
all is not perfect in paradise. To cater to the Instagram crowd, they
have cheesy Aloha Photo Stations.
single-floor sprawled shopping mall is Sawgrass
in Sunrise, Florida, valued at $4.1 billion. With 2.3 million sq ft of
retail space, it is the 11th largest shopping mall in the U.S. Its
anchors are Super Target, Burlington, BrandsMart, TrendMax, Bed Bath
Beyond, Dick's, Marshalls, and Century21, plus Neiman Marcus Last Call
and Saks Off 5th Avenue. It was closed
due to flooding
in June of 2017. The Sawgrass Mills survival
plan is to keep their heads above water.
most valuable shopping mall* is Oakbrook Center
in suburban Oakbrook, Illinois, valued at $3.5 billion. Two of its five
anchor stores are vacant.
The fourth most valuable
shopping mall* is Woodbury Common Premium Outlets
in Central Valley, New York, valued at $3.2 billion. Its sales per
square foot of $1,624 is one the highest in the country. As an
outlet mall, its anchors are Saks Off 5th Avenue, Calvin Klein, Nike
Factory, Tommy Hilfiger, Ralph Lauren, Under Armour, and Gap Factory.
Traffic jams are their main problem. Their plans to survive are to build
two hotels, a new parking deck, and a helipad
. They will
The fifth most valuable shopping mall* at
$3.06 billion is Fashion Show
in Las Vegas, Nevada. Its anchors are Dillard's, Macy's, Macy's Mens,
Forever 21, Neiman Marcus, Nordstrom, Saks 5th Ave, and Dick's Sporting
The sixth most valuable shopping mall* at
$2.92 billion is Tysons Corner Center
in McLean, Virginia, a suburb of Washington DC. Government employees
and contractors spend $980 per square foot at Tysons. Its anchor stores
-- Bloomingdale's, Macy's, Lord & Taylor, and
will be enhanced by plans of adding a 7-Eleven
to Fashion Show with $975 of sales per sq ft, the Forum Shops at Caesars
has $1,616 of sales per sq ft, due to its direct connection to Caesar's
Palace. The seventh most valuable shopping mall* at $2.79 billion,
allows gamblers to get something in return.
is the largest shopping mall in the U.S. at 2.6 million sq ft and the
eighth most valuable* at $2.77 billion. The Pennsylvania
anchored by Bloomingdale's, Dick's Sporting Goods, Lord &
Macy's, Neiman Marcus, Nordstrom, and Primark, with one vacant
anchor store last occupied by JCPenney.
those shopping malls are Real-Estate Investment Trust (REIT) owned, as
indicated by the asterisk (*).
Now imagine a family-owned
with 105 stores (100% full), including Neiman Marcus and Saks
Fifth Avenue as anchors, $3,010 of sales per sq ft, and a waiting list
of stores wanting in. That's Bal Harbour Shops
just north of Miami Beach, Florida. You can't afford to go there. How
do I know? You are reading about shopping malls with problems. That's
not their problem. They don't care.
None of these
shopping malls will be putting in a library.
Music Association: Gloria Gaynor
- I Will Survive
* REIT owned shopping mallsRetail Apocalypse
Into A Shopping Mall
14, 2019A letter complaining
about Trump's 25% tariff taxes
on goods from China was sent
yesterday to President Trump. Two key sentences of the letter
applied tariffs are not an effective tool to change China's unfair
trade practices. Tariffs are taxes paid directly by U.S. companies,
including those listed below -- not China.”
one-page letter was signed by 14 pages of stores, companies, port
authorities, and trade associations, including:
the end of 2018, shopping malls had a vacancy rate of 9%. Store
in the first quarter of 2019. Over 6,000 store closures have been
announced in 2019, topping all of 2018. The economic bumblings of our
president couldn't have happened at a worse time for
are about 1,100 malls in America, with about
800 vacant anchor spaces
Ships Without AnchorsSouthdale Mall
the first enclosed shopping mall, opened in Edina, Minnesota
1956. It has three vacant anchor spaces. The Herberger's department
store closed in 2018 as part of the Bon-Ton Stores bankruptcy. And
JCPenney and Gordmans also closed anchor stores at Southdale.
plans to replace JCPenney with a LifeTime Fitness, which is funny
because the mall may no longer last a lifetime. And sure, it's foot
traffic, but those feet keep moving.They
also plan to demolish the Herberger's building
build a half-size replacement of the Herberger's building for the
Hennepin County Library near Southdale.
County Library near Southdale
is the fourth most visited library in the county with 303,316 visits in
2016 and 329,550 visits in 2017. The Le Corbusier inspired building
opened July 25, 1973 and has been a jewel in the Hennepin County
Library system ever since. Condominium developers are salivating over
the land under the library. The plan is to tear the library down, move
it to the
mall, and pay retail rent. What could go wrong?!?
Music Association: Semisonic -
Gifs of Cats and Kittens Part 1
Hennepin Library Edina Library Wonder