The mall has a 93% occupancy with some stores coming soon.

The only big name brand store that closed was J Crew.

Every day that goes by brings it closer to it's last. Though the same could be said for Tysons

technically they are right Wrote:
-------------------------------------------------------
> Every day that goes by brings it closer to it's
> last. Though the same could be said for Tysons


Can you explain why you think both malls are on decline?

I've been to both malls recently and I don't see any evidence of that.

­



Edited 1 time(s). Last edit at 08/23/2018 11:05PM by chuckhoffmann.

I can see STC going under,except for the restaurants.
It is like the United Nations there..and you can tell these people are not in the 1 %... they may roam around for something to do, but they dont have the money to keep it going...

Its pretty much scummers there..illegals too.

chuckhoffmann Wrote:
-------------------------------------------------------
> The real metric is not occupancy, which is 92.1%
> as of five minutes ago, but sales per square foot,
> which is $540. The reason spsf is such an
> important metric is that, like a mafia don, they
> get a taste of every dollar of business done.
>
> For comparison, Tysons Corner Center reported spsf
> of $980 earlier this year. To be fair, Tysons
> Corner is the 800 pound gorilla of shopping malls
> in the area, but even Fair Oaks Mall had $810
> spsf.
>
> The problem is not how much of the mall is rented
> out, but how much money each square foot of the
> mall is actually generating, which is far short of
> what other malls in the county are able to rake
> in.

chuckhoffmann Wrote:
-------------------------------------------------------
> The real metric is not occupancy, which is 92.1%
> as of five minutes ago, but sales per square foot,
> which is $540. The reason spsf is such an
> important metric is that, like a mafia don, they
> get a taste of every dollar of business done.
>
> For comparison, Tysons Corner Center reported spsf
> of $980 earlier this year. To be fair, Tysons
> Corner is the 800 pound gorilla of shopping malls
> in the area, but even Fair Oaks Mall had $810
> spsf.
>
> The problem is not how much of the mall is rented
> out, but how much money each square foot of the
> mall is actually generating, which is far short of
> what other malls in the county are able to rake
> in.

sell more stuff and more expensive stuff.

There's only one shittier mall in the area....manassas mall.

Same problem at both and we all know what it is.

Wrong, the other shitty mall is Landmark. I don't even know if it's still open.

Have you been to the Dave and Busters there? I thought I was at the Chucke Cheese on Route 1 when I was there, full of coloreds acting out.

STC going downhill Wrote:
-------------------------------------------------------
> Have you been to the Dave and Busters there? I
> thought I was at the Chucke Cheese on Route 1 when
> I was there, full of coloreds acting out.


There's the elephant in the room. You know your risk of running into coloreds chimpin out when you order from Amazon?

So how many years will it take for the mall to go downhill? 5 years? 10 years? or more?

FTk3432 Wrote:
-------------------------------------------------------
> Wrong, the other shitty mall is Landmark. I don't
> even know if it's still open.

Define open...Sears is still open but, that's it.

I like going to Springfield Town Center because of the Regal cinema with recliner seats and beer, restaurants and the record store.

chuckhoffmann Wrote:
-------------------------------------------------------
> The real metric is not occupancy, which is 92.1%
> as of five minutes ago, but sales per square foot,
> which is $540. The reason spsf is such an
> important metric is that, like a mafia don, they
> get a taste of every dollar of business done.
>
> For comparison, Tysons Corner Center reported spsf
> of $980 earlier this year. To be fair, Tysons
> Corner is the 800 pound gorilla of shopping malls
> in the area, but even Fair Oaks Mall had $810
> spsf.
>
> The problem is not how much of the mall is rented
> out, but how much money each square foot of the
> mall is actually generating, which is far short of
> what other malls in the county are able to rake
> in.

LOL! You've been slagging it since the start ... and yet it's still open.

Also they've EXCEEDED estimates on sales per square foot.

"Pennsylvania Real Estate Investment Trust (NYSE: PEI) has said, since it acquired the 78-acre Springfield property nearly two years ago, that it would not move to develop surface lots until the mall itself is financially stabilized. And it appears to be nearly there, as the revamped former Springfield Mall is 91 percent occupied and sales stand at $530 per square foot, exceeding estimates by $5 per square foot, according to PREIT's latest report to its investors."

https://www.bizjournals.com/washington/news/2017/03/07/springfield-town-center-owner-moves-toward-mall.html

The developers have been open and vocal that they aren't in a race to develop the site.

"Heather Crowell, spokeswoman for Pennsylania Real Estate Investment Trust, tells me the town center owner is not actively soliciting development partners yet for what it calls a "future smart growth opportunity." But it doesn't have to solicit. The interest is there, and Philadelphia-based PREIT is listening."

chuckhoffmann Wrote:
-------------------------------------------------------
> The real metric is not occupancy, which is 92.1%
> as of five minutes ago, but sales per square foot,
> which is $540. The reason spsf is such an
> important metric is that, like a mafia don, they
> get a taste of every dollar of business done.
>
> For comparison, Tysons Corner Center reported spsf
> of $980 earlier this year. To be fair, Tysons
> Corner is the 800 pound gorilla of shopping malls
> in the area, but even Fair Oaks Mall had $810
> spsf.
>

they continue to meet, or exceed, expectations

You have not said one word which contradicts what Chuck said. If STC's current numbers marginally exceed what PREIT expected, that simply means that PREIT had a more realistic anticipation of STC's potential.

I expected my niglet to get a 1.2 GPA, he got a 1.8. Exceeded my expectations!

tm99x Wrote:
-------------------------------------------------------
> You have not said one word which contradicts what
> Chuck said. If STC's current numbers marginally
> exceed what PREIT expected, that simply means that
> PREIT had a more realistic anticipation of STC's
> potential.


I never said I would contradict it. I said he's been posting negative about it from the start. Sometimes subtly (like above) sometimes more blatantly. He also criticized the occupancy rate that now apparently don't matter.

It's also not accurate to say they have a 'realistic anticipation of STC's potential'. It exceeded their forecast. Occupancy remains high even with some chains closing stores from larger financial issues. The closed JCrew space is being replaced with Hollister.

They know the potential of full development.To get to Phase 2, they need/want a clearer real estate market forecast AND access to capital to actually begin larger development. Questions like; when/where will FBI Headquarters move?, Landmark site development?, occupancy rates of new office parks (Newington/Loisdale has a number of new sites finishing completion).

Lots of DC and MD tags in the parking lot. Plenty of new arrivals and very little shoppers that have cash to spend. The restaurants are doing ok but I would not eat anything prepared there in fear it may be flavored with the preparer's excrement. Don't think the place will last, Here is my two cents MHO, it'll get raised within two decades and yuppie ( with plenty of section8 set asides) condos will get stood up.

Personally, I don't feel welcomed by the store employees nor the window shoppers so I don't shop there. I do most of my shopping online now until I can move to a white friendly place.

WLM: White Lives Matter.

Those of color will not last long on earth without whitey inventing, creating, developing, and supporting those that like to sit around.

Nice mall but in a shitty area. Getting in and out can be kind of a pain. The theater is nice that's about the only reason I would go there. The food options are nothing special, I can just go to a nicer and find the same restaurants and not have to worry about someone hitting my car or breaking into it.

I take the beater whenever I'm out there, lots of MD plates if you catch my drift.

^^^^yes I catch your drift. Wilding at the mall as usual.

it is what I call a glittering shithole.
I don't venture in such places unless heavily armed
with hardware.

That place is a shit hole because while the pig got some lipstick the area surrounding it still a ghetto dump. The people who converge there are trash.

As a blue-collar man, I prefer Springfield Mall to Tysons mall because uppity people shop there.

Iguana eaters.

PICS OR IT DIDN'T HAPPEN

Go there on a Saturday nite.
I did to go to sprint store.
The yard house restaurant should be renamed to “ape house.”
Lots of niggers and undesirable illegals.
I bet there will be a shooting, and subsequent homicide, by years end.
That car area gets wayyy too close to the crowds.
I’m never wrong btw.

There is a nice small town in North Dakota that has demographics that you'd like.

Adapt or move Wrote:
-------------------------------------------------------
> There is a nice small town in North Dakota that
> has demographics that you'd like.





Imagine how peaceful it is out there.