Taubman dumping Fairlane & Partridge Creek

[hybridy]

and the metro retail shake up continues...

Find this a sign of the times. I can't see fairlane improving w/a new owner. The mall as we know it, is dead. Properties either need to be high end or outlets these days. Taubman is only retaining 12 Oaks [[Luxury) & Great Lakes Crossing [[Outlet) as MI properties. I considered Partridge Creek higher end, but I suppose its macomb county location isn't ideal to investors.

http://www.dbusiness.com/daily-news/...reek-Fairlane/

[nain rouge]

Brilliant American development strategy. Build something unsustainable, and then pawn it off when it's time to actually figure out how to make it work long-term. Taubman built Lakeside Mall, only to purposefully cannibalize its customer base with Partridge Creek. Now it's selling that, too, leaving the whole mess behind. What a great neighbor Taubman is!

[That Great Guy]

Brilliant American development strategy. Build something unsustainable, and then pawn it off when it's time to actually figure out how to make it work long-term. Taubman built Lakeside Mall, only to purposefully cannibalize its customer base with Partridge Creek. Now it's selling that, too, leaving the whole mess behind. What a great neighbor Taubman is!

What we need is to create a Regional Mall Authority RMA to raise money to repair these aging malls. A small 0.1 mil property tax would only cost the average family $10 per year.

In these hard times people need jobs and this would mean helping out many people.

[MikeyinBrooklyn]

You're right, hybridy. The "general mall" is no longer where people shop. No one's fault, just changing consumer habits. People go to outdoor "plazas" that have Walmart or Target or Kohl's for everyday shopping. They shop online for single items rather than roam the mall. Outlets and luxury properties provide experiences not easily replicated at the suburban plazas or online. Even seemingly better positioned general malls [[Oakland, Briarwood, etc) will not be as they are in 10 or 15 years.

[jonathanlivingstonseagull]

and the metro retail shake up continues...

Find this a sign of the times. I can't see fairlane improving w/a new owner. The mall as we know it, is dead. Properties either need to be high end or outlets these days. Taubman is only retaining 12 Oaks [[Luxury) & Great Lakes Crossing [[Outlet) as MI properties. I considered Partridge Creek higher end, but I suppose its macomb county location isn't ideal to investors.

http://www.dbusiness.com/daily-news/...reek-Fairlane/

I am surprised he held on to Fairlane as long as he did. Funny to think that at one time Fairlane was his flagship property.

[nain rouge]

People go to outdoor "plazas" that have Walmart or Target or Kohl's for everyday shopping. They shop online for single items rather than roam the mall.

I feel bad for workers at Macomb Mall. It's clear that the new mall owners plan to eventually turn it an "outdoor plaza" [[such as was seen with Universal Mall at 12 & Dequindre), but they have the mall workers celebrating the construction of a Dick's and partial teardown of the enclosed shopping area as a sign of positive reinvestment. When, in reality, they're just milking the indoor portion of the mall for what little is left to be squeezed out. Most of the shops in Macomb Mall will be gone in 5-10 years tops, I predict.

[hybridy]

I feel bad for workers at Macomb Mall. It's clear that the new mall owners plan to eventually turn it an "outdoor plaza" [[such as was seen with Universal Mall at 12 & Dequindre), but they have the mall workers celebrating the construction of a Dick's and partial teardown of the enclosed shopping area as a sign of positive reinvestment. When, in reality, they're just milking the indoor portion of the mall for what little is left to be squeezed out. Most of the shops in Macomb Mall will be gone in 5-10 years tops, I predict.

Lormax Stern is doing to Macomb Mall what it did to Livonia Mall now "Livonia Marketplace".
http://en.wikipedia.org/wiki/Livonia_Marketplace

[313WX]

I feel bad for workers at Macomb Mall. It's clear that the new mall owners plan to eventually turn it an "outdoor plaza" [[such as was seen with Universal Mall at 12 & Dequindre), but they have the mall workers celebrating the construction of a Dick's and partial teardown of the enclosed shopping area as a sign of positive reinvestment. When, in reality, they're just milking the indoor portion of the mall for what little is left to be squeezed out. Most of the shops in Macomb Mall will be gone in 5-10 years tops, I predict.

The sad part about Macomb Mall is that it was a fairly nice shopping mall as recently as the late 90s/early 2000s.

Unfortunately, its customer base has either fleed to Northern Macomb County [[and now give their business to the places along Hall Road) or has less disposable income to spend, as a lot of folks who worked in those decent-paying factories throughout NE Detroit, Warren and Roseville were laid off when their jobs were offshored and when the automakers went bankrupt.

[Amznblue]

and the metro retail shake up continues...

Find this a sign of the times. I can't see fairlane improving w/a new owner. The mall as we know it, is dead. Properties either need to be high end or outlets these days. Taubman is only retaining 12 Oaks [[Luxury) & Great Lakes Crossing [[Outlet) as MI properties. I considered Partridge Creek higher end, but I suppose its macomb county location isn't ideal to investors.

http://www.dbusiness.com/daily-news/...reek-Fairlane/

One of the most ignorant posts I've read. Are you aware that the 5 miles north of Hall Rd.and 3 miles south of Hall Rd. Between I 94 and M59 freeway in Utica has the largest population per capita of household incomes of over 100k per year? Than anywhere else in Metro Detroit?

[MikeyinBrooklyn]

One of the most ignorant posts I've read.

Don't read a lot of posts here, do you?

[nain rouge]

Lormax Stern is doing to Macomb Mall what it did to Livonia Mall now "Livonia Marketplace".

It makes sense. It's just the current PR at the Macomb Mall is nauseating considering the realities of the situation. It reminds me of a factory forcing workers to celebrate the completion of a new automated facility. Here's your employer essentially making a bold proclamation about how they wish they could replace you with a machine, and you have to clap and watch the ribbons get cut.

[Wesley Mouch]

Taubman DUMPS Fairlane Mall & Partridge Creek.

Can we lighten up on the rhetoric. Using these inflammatory works like DUMPS.

What Tabuman did was SELL FM & PC.

The one constant in retail is change. What worked yesterday isn't what'd done today. Once it was main street. Then strip malls, that grew into super malls like Northland. Eventually and sadly it was enclosed. Now the trend is back to the open-air malls. Next who knows.

This SALE says NOTHING about anything except retail firms changing their buildings to maximize PROFIT.

[hybridy]

Taubman DUMPS Fairlane Mall & Partridge Creek.

Can we lighten up on the rhetoric. Using these inflammatory works like DUMPS.

What Tabuman did was SELL FM & PC.

The one constant in retail is change. What worked yesterday isn't what'd done today. Once it was main street. Then strip malls, that grew into super malls like Northland. Eventually and sadly it was enclosed. Now the trend is back to the open-air malls. Next who knows.

This SALE says NOTHING about anything except retail firms changing their buildings to maximize PROFIT.

i chose "dumping" because taubman is hq'd in bloomfiled hills and now only owns 2 malls in the state. and i say that because of what they did to lakeside [[sold & built partridge creek), as previously mentioned. its the cavalier attitude of building then dumping. im sure taxpayers get the ultimate tab to repurpose these properties.

[Goose]

don't read a lot of posts here, do you?

lol....

[John]

Are you aware that the 5 miles north of Hall Rd.and 3 miles south of Hall Rd. Between I 94 and M59 freeway in Utica has the largest population per capita of household incomes of over 100k per year? Than anywhere else in Metro Detroit?

What is the source of your information? As far as per-capita income goes, not one single area of Macomb County ranks in the top 50 list of subdivisions in Michigan. Macomb County even ranks below the national per-capita income.
http://en.wikipedia.org/wiki/Michiga..._capita_income

[DetroitPlanner]

What is the source of your information? As far as per-capita income goes, not one single area of Macomb County ranks in the top 50 list of subdivisions in Michigan. Macomb County even ranks below the national per-capita income.
http://en.wikipedia.org/wiki/Michiga..._capita_income

Not a list of subdivisions. It is a list of counties. Macomb comes in at a respectable #10 with a family or household income well above the U.S. as a whole. It also has nearly 900,000 people.

The list below it is incomplete and different to boot. Argentine is neither a City or Township. It is a CDP. [[Census Designated Place).Salem Twp is missing, as is Washington, Chesterfield, and Macomb townships to name a few.

[John]

Not a list of subdivisions. It is a list of counties. Macomb comes in at a respectable #10 with a family or household income well above the U.S. as a whole. It also has nearly 900,000 people.

The list below it is incomplete and different to boot. Argentine is neither a City or Township. It is a CDP. [[Census Designated Place).Salem Twp is missing, as is Washington, Chesterfield, and Macomb townships to name a few.

I was responding to a post claiming that a section of Macomb County "has the largest population per capita of household incomes of over 100k per year Than anywhere else in Metro Detroit" Which i find hard to believe.

If you have a source of this being even remotely true, please feel free to share it.

[GUSHI]

By the was the 7-11 in Macomb two got robbed last night @ 22 and Romeo Plank, down the street from Partridge Creek.

[DetroitPlanner]

These were not the only malls that Taubman sold during this package. Taubman seems to be concentrating more of his interests in the pac rim [[China and Korea). U.S. malls don't have much future.

[Hermod]

This is what developers do. They build a building or a mall or whatever. They depreciate the building over the shortest legal life counting the depreciation against their profits. They then sell it for equal to or more than what they paid for it with the sale price over the depreciated value being taxed at capital gains rates. The new owner they starts the depreciation cycle over again until he sells out and a new depreciation cycle starts. That is how you do it in commercial real estate. Once you have the optimal amount of depreciation out of it, you sell it.

[DetroitPlanner]

Fairlane is not a Mall; it is a Town Center.

[nain rouge]

The new owner they starts the depreciation cycle over again until he sells out and a new depreciation cycle starts. That is how you do it in commercial real estate. Once you have the optimal amount of depreciation out of it, you sell it.

Yeah, I get it. When you run a corporation, you get to be amoral. At the same time, of course, regular people cheer this sort of behavior on. So I guess they want it. They want neighborhoods in their area to be dragged down by properties that are purposefully designed to be disposable, and as a result see minimal [[if any) reinvestment. Probably because they think that they too will move before the crap hits the fan.

It's a dreary world we live in.

[Hermod]

Yeah, I get it. When you run a corporation, you get to be amoral. At the same time, of course, regular people cheer this sort of behavior on. So I guess they want it. They want neighborhoods in their area to be dragged down by properties that are purposefully designed to be disposable, and as a result see minimal [[if any) reinvestment. Probably because they think that they too will move before the crap hits the fan.

It's a dreary world we live in.

The problem is with our tax structure. Things can make tax sense without making economic or common sense. My wife wanted to get into rental real estate some years back and in most cases, you were losing money in cash flow, but were making money tax wise with the big payoff when you sold. I didn't want to touch it.

[Danny]

Fairlane is not a Mall; it is a Town Center.

Let's define a [[shopping mall) or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to walk from unit to unit. Other establishments including movie theaters and restaurants are also often included.


Source Wikipedia......

Fairlane Shopping Center is a MALL not just a town center.

[DetroitPlanner]

Let's define a [[shopping mall) or simply mall is one or more buildings forming a complex of shops representing merchandisers, with interconnecting walkways enabling visitors to walk from unit to unit. Other establishments including movie theaters and restaurants are also often included.


Source Wikipedia......

Fairlane Shopping Center is a MALL not just a town center.

It is a mall that is called a Town Center. http://www.shopfairlane.com/

It is in the center of the town of Dearborn. It is also the central gathering place in all of the developments collectively known as Fairlane. It cetrainly lost a bit when the people mover was removed instead of expanded.