Plans To Transform Underperforming Burlington Mall

Over the next two to three months, officials in Burlington Township will be getting architectural and civil engineering drawings of what the new Marketplace at Burlington – formerly Burlington Center Mall – will look like, as well as a count of the traffic it is hoped it will generate.

By mid-spring of next year, owner Moonbeam Capital Investments L.L.C. of Las Vegas says, groundbreaking will begin to convert the underperforming mall into a must-see destination off Exit 47A of I-295 for shopping, dining, and entertainment.

If all goes as planned, the $230 million-plus phased conversion will also include manicured green spaces with benches and fountains that seamlessly tie a traditional mall with an open-air town center.

The full build-out is expected to take from two to three years and will be done in stages. The mall will stay open the entire time.

Read more at http://www.philly.com/philly/business/20150124_Plans_to_transform_underperforming_Burlington_mall.html#ryTRJvJqSdssWhue.99

J.C. Penney Stores In York, Chambersburg Among 39 Closing

The JCPenney at York Galleria will close for business around April 4.

Sarah Holland, JCPenney spokeswoman, said via email that the York Galleria store is one of 39 locations nationwide that will close. Throughout Pennsylvania, JCPenney is also closing stores at the Chambersburg Mall in Chambersburg, Susquehanna Valley Mall in Hummels Wharf, Granite Run Mall in Media and Nittany Mall in State College.

Holland said the closures are part of ongoing efforts to meet goals for company growth.

“We continually evaluate our store portfolio to determine whether there’s a need to close or relocate underperforming stores,” Holland said. “While it’s never an easy decision to close stores, especially due to the impact on our valued associates and customers, we feel this is a necessary business decision.”

Read more: http://www.ydr.com/business/ci_27281077/jc-penney-stores-york-chambersburg-close-according-report

South Hills Village Mall To Get Major Makeover

Map of Allegheny County, Pennsylvania, United States with township and municipal boundaries (Photo credit: Wikipedia)

South Hills Village mall will undergo a multimillion-dollar renovation as part of its owner’s plan to spruce up some of its shopping centers — to the tune of $3 billion — through 2016, an official said.

“We’re very focused on making our malls completely up-to-date and with the latest customer amenities, and giving our customers the best experience in which to shop and dine and be entertained,” Les Morris, spokesman for Simon Property Group Inc., said on Thursday.

The recession hurt shopping centers nationwide, so retail property owners have been upgrading malls rather than building more of them, said Jesse Tron, spokesman for the International Council of Shopping Centers in New York.

“I think 2014 will remain more about redevelopment, as opposed to new development,” he said.

Read more: http://triblive.com/news/adminpage/5505569-74/mall-renovation-hills#ixzz2rzxz0IyU
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Macy’s To Cut 2,500 Jobs, Close Stores

Macy’s logo (Photo credit: Wikipedia)

Macy’s Inc. is cutting 2,500 jobs as part of a reorganization to sustain its profitability.

The announcement comes on the heels of a strong holiday shopping season for the department store chain.

Macy’s said Wednesday that it will reassign or transfer some workers and add some positions, leaving its workforce level at about 175,000.

The Cincinnati-based company plans to close five stores and open eight others, leaving it with 844 stores nationwide once the changes are complete.

Read more: http://www.inyork.com/community/ci_24868130/macys-cut-2-500-jobs?source=rss

Developers: West Manchester Mall Construction Could Begin By March

Map of York County, Pennsylvania, United States with township and municipal boundaries (Photo credit: Wikipedia)

The new year will bring a new West Manchester Mall, and developers said work could begin before winter ends.

“We’re trying to get started as early as we can. March is not an unreasonable target,” said Tony Ruggeri, co-founder of Dallas-based M&R Investors, which owns the mall.

The 32-year-old shopping hub at 1800 Loucks Road is set for a $47 million redevelopment that will change it from an enclosed mall to an outdoor plaza similar to Hunt Valley Towne Center in Maryland.

The York County commissioners and the West York school board recently approved a tax incentive financing (TIF) plan that will allow the mall to be revamped while receiving a limited tax break on the improved property.

Read more: http://www.yorkdispatch.com/breaking/ci_24764314/developers-west-manchester-mall-construction-could-begin-by

Century III New Owner Seeks To Reverse Vacancy Trend With New Theater

Map of Allegheny County, Pennsylvania, United States with township and municipal boundaries (Photo credit: Wikipedia)

The owner of Century III is betting that a movie theater could help revitalize the struggling West Mifflin mall.

Las Vegas-based Moonbeam Capital Investments LLC, which bought the mall in May, said it is negotiating with two national chains with a Pittsburgh-area presence to open a first-run movie theater with stadium seating in Century III. Shawl L. Pryor, senior vice president of real estate, won’t name the companies because no lease has been signed.

Contending with a high vacancy rate, about 32 percent, and low foot traffic, the 34-year-old mall needs an entertainment component as part of its revitalization, Moonbeam said.

“We believe that it’s a very important aspect of why people go back to the mall. It’s not just to buy clothing anymore,” Moonbeam Chief Executive Officer Steven Maksin said.

Read more: http://triblive.com/news/allegheny/5157496-74/mall-iii-century#ixzz2nGz6riE4
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It’s Personal: How Lundgren Led Macy In Bouncing Back

Macy’s logo (Photo credit: Wikipedia)

As backdrop to the legendary parade, the Macy’s store at New York City’s Herald Square is a star of the show on Thanksgiving. But ask Terry J. Lundgren about Philadelphia, and the Macy’s CEO shares a surprising adoration for a different landmark altogether – the one in Center City that opened a century ago as Wanamakers.

“That is one of the most unique stores in the entire enterprise of Macy’s Inc.,” the chairman, president, and chief executive said as he gushed, largely unprompted, about the Philly stunner that is home to the world’s largest working pipe organ, the kitschy-but-adored Christmas Light Show, and the Dickens Village exhibit.

“It’s the only store in the world that has a pipe organ and that has performances on this organ every single week – and we maintain that. I mean, who would do that?”

Here’s who: A $28 billion company that believes, even amid the growing popularity of Internet shopping, that retailing remains a local game. With this guiding principle and Lundgren’s charisma as change agents, the 800-store chain, now based in Cincinnati, has grabbed a top position only a few years after the department-store sector looked like an endangered species.

Read more at http://www.philly.com/philly/business/20131128_How_Lundgren_led_Macy_in_bouncing_back.html#u2dKLoMavfuplyf4.99