Dying Suburban Retail
The story takes place in New York in a town I’ve never heard of. But the theme should be of interest to everybody. After having robbed downtowns of retail life a half century ago, are some suburban highway retail corridors doomed to go through the same demise?
(Thanks to www.deadmalls.com)
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Funny you bring this one up, Steve. And, I wish your OPUBCO buddy Richard Mize could be in on this, too. Look no further than May Avenue. Look at all of the new retail opening North of Memorial. Now, look at what’s going on South of NW Expressway, down to 23rd. Mayfair was sold in 2006, and with it, CVS upgraded their space, we saw the closure of Radio Shack, Two Sisters, and my store, 89er Balloons. Popcorn Pharmacy, Blue Seven, and Inhabit relocated to Lakeside. Also, a new development is promised for the old Lynn Hickey Dodge land, called May Avenue Square, but there has been no construction in two years. Now, the Smicklas Chevrolet lot is vacant, providing a large block of land directly across from a rennovated Target.
Nearby, Portland Plaza, at 39th and Portland, recently leveled the old Holiday Inn/Hollywood Resort, and plans Portland Plaza II. But again, no construction.
I’m sure the Economy is part of this, and so does traffic count. But you really have to wonder just how long Michael’s will remain in a shopping center that is only 1/2 full.