The mutual loss of anchor stores precipitated the decisions to shutter the malls.
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: BethesdaMagazine.com, LoHud.com, BizJournals.com, and Wikipedia.org.
I write extensively about the state of U.S. shopping malls for NewsBreak. Today represents the second to last day of business of two formerly well-trafficked, longstanding such malls, both permanently closing March 31.
According to a January 19th report from BethesdaMagazine.com, entitled “After 45 Years, Lakeforest Mall to Close at the End of March,” the 45-year old Maryland location is permanently shuttering due to its loss of anchor stores and continuing increase in crime.
From the report: Lakeforest Mall in Gaithersburg will permanently close at the end of March, officials announced at a City of Gaithersburg Mayor and City Council meeting Tuesday evening. Bob Dalrymple, partner at the law firm Selzer Gurvitch and land use counsel to South Carolina developer WRS Inc., said they want to begin the demolition process as soon as possible. However, financing on the mall requires it to remain for now. If redevelopment plans fall through, the goal would be to look at re-tenanting the mall.
Further, according to a March 7th report from LoHud.com, entitled “Some Stores Still Open as Galleria is Closing Soon in White Plains,” though most of this mall’s business have long since vacated the location, the single owner of two tenant companies was not leaving right away: Taj Singh, owner of Luggage n' More and A 2 Z at the Galleria in White Plains is still doing business March 7, 2023. His store has been there for 17 years. While many tenants have moved out, he prefers to stay with the mall for the final days before the mall closes.
Though for all intents the Galleria is already closed, its formal last day of business is March 31.
Let us look back at both locations as they prepare for their closures.
U.S. Shopping Malls, 2023
According to a February 27th report from BizJournals.com, entitled “Macy's Pending Closure at Lakeforest Mall Sets Stage for Redevelopment,” the loss of the entity’s remaining anchor veritably represented the end of an era.
As excerpted from the report: Macy’s Inc. is closing it store at Gaithersburg’s Lakeforest Mall, setting the stage for the languishing shopping center’s planned redevelopment. Axios reported Feb. 22 that Macy’s will soon begin a clearance sale at its store at 701 Russell Ave., and several other locations across the country that will run approximately eight to 12 weeks prior to store closures.
The report went on to state: WRS hopes to begin demolition and start new construction at the 102-acre site in 2024. Lakeforest mall was developed in 1978 as a traditional enclosed mall with the four anchor retailers, all surrounded by massive surface parking lots.
Wikipedia features a comprehensive and well-attributed overview of the Galleria in White Plains: The Galleria at White Plains is a soon to be defunct shopping mall located in downtown White Plains, New York, US, a commercial and residential suburb 20 miles (32 km) north of New York City. The mall featured the major anchors Macy’s and Sears, and junior anchors Forever 21 and H&M, all of which had since permanently closed down. On December 21, 2022, it was announced that the Galleria at White Plains will be permanently closing in March 2023 to replace the mall with a mixed use site.
Sharp decreases in foot traffic, in both instances, greatly contributed to the losses of the malls’ anchor stores and the decisions to shutter the malls proper.
These are developing stories. In the event of pertinent updates to these matters, inclusive of progress and official announcements of milestone dates, I will share them here on NewsBreak.
Thank you for reading.
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