Tag: street

Over 50% of mall department stores to close by 2021: Green Street

First, the department store closes. Then, the apparel shops try to scoot out of deals. This is a one-two punch that could trigger a wave of malls shutting for good over the next 12 months. 

More than 50% of the department stores anchoring America’s malls are going to close permanently by the end of next year, a new report from Green Street Advisors predicts. There are about 1,000 malls still open in the U.S. And roughly 60% of those have department store retailers, such as Macy’s, as anchor tenants, the commercial real estate services firm said. 

The coronavirus pandemic that

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16th Street Mall Revitalization Moving Forward After Difficult 2020

DENVER (CBS4) – 2020 was quite a difficult year in Colorado, and Denver’s 16th Street Mall took a big hit as a result. COVID-19 closed many businesses, and protests over the summer left some of those same businesses vandalized. But in the new year, the Downtown Denver Partnership is anticipating a renewed start.

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“A vision for the redevelopment has been worked on for the past 10 years and we have had over 5,000 people plus … in our community weigh in on the vision, the concept, the hope for the future of the 16th Street Mall,” said President

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Top-tier mall values have dropped 45% from 2016 levels: Green Street

A visitor looks down an empty hallway at The Fashion Mall at Keystone, Wednesday, March 18, 2020, in Indianapolis. Simon Property Group, the largest owner of shopping malls in the nation, is closing all of its malls and retail properties because of the coronavirus outbreak.

Darron Cummings | AP

When Macy’s Chief Executive Jeff Gennette explained at an investor meeting in early 2020 that he saw a “bifurcation of malls” shaping up, with the state of lower-tier shopping centers continuing to “decline rapidly,” he didn’t have anything bad to say about so-called A-rated malls.

Instead, Gennette said the department store

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2nd STREET USA, Inc., to Open Fourth American Store in Torrance, Los Angeles, California, on January 25, 2020

NAGOYA, Japan–()–2nd STREET USA, a subsidiary of GEO Holdings Corporation (TOKYO: 2681), is set to open its fourth US store, 2nd STREET Torrance, in Torrance, a city within Los Angeles County, California, on January 25, 2020.

2nd STREET USA, Inc., buys and sells second hand clothing and accessories. The first US store was opened in January 2018 on Melrose Avenue in Los Angeles, California. In the same year, the second US store opened in Old Pasadena in June, and the third location opened in Costa Mesa in Orange County in July.

The store about to open, 2nd

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Wall Street extends gains with election stalemate in focus

Stocks jumped Thursday to extend a rally from a day earlier, as traders honed in on the outcome of the U.S. election, with several key states’ results still hanging in balance.

[Click here to read what’s moving markets heading into Friday, Nov. 6]

The Dow added more than 500 points, or about 2%, for the fourth straight day of gains as traders await key states’ election results. The S&P 500 rose by about 2% and Nasdaq added 300 points, or 2.59% at market close.

As of Thursday morning, several key states including Pennsylvania and Nevada had yet to be called

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