Sunday, June 25, 2017

Rating Retail in Southeastern Cities : Part 1

     To keep up my promise of delivering subjects in different ways, today we will rate southeastern US cities in retail.

Methodology of grading:

- Number of dying/live shopping centers

- Hometown stores

- Future of retail


     Atlanta is given a B+ rating. Atlanta has plenty of top-tier malls in Lenox Square, Perimeter Mall, Mall of Georgia, and a few others but has been historically overmalled. This means the best of the bunch have a large difference between the worst. As for hometown stores, The Home Depot and Haverty's Furniture are the frontrunners, but the losses of Rich's and Davison's tick the grading downward. The future is unclear with the city's large growth occurring, but the best malls will most likely continue to thrive.


     Miami is given an A rating. Most malls in Miami are in their prime and Miami has the third largest mall in America (Aventura Mall). What holds Miami from an A+ is the lack of hometown stores. It's probable that as the city continues to grow, the malls will continue to prosper.


     Columbia's harsh rating is because of it's lack in all 3 criteria. Columbiana Centre is the only long-term mall in the area, with everything else dying. Tapp's lasted waaaayy back, but is gone now. Columbia is supposed to see huge growth in the next decade, but will the malls come back? Highly unlikely.


      Charlotte and Atlanta have very similar retail situations. Charlotte has solid malls in SouthPark and Northlake but has lived though Charlottetowne and Eastgate. Charlotte is the location for Belk and Cato Fashions. Like Atlanta, Charlotte has seen constant growth but it's unknown how that will affect the retail.


     Birmingham is no stranger to tough times with retail. Riverchase and Brookwood Village are the only survivors out of the other demolished malls and declining ones. Pizitz and Parisian once called Birmingham home, but have been purchased. Birmingham is mainly struggling as a city, so it won't be a surprise if what it keeps leaves.

Note: While TN, KY, parts of FL, MS, and LA are in the southeast, they will featured in a later post.

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