Cherry Lane Mall

[my10cents]

Does anyone know what is going on at Cherry Lane Mall? I was there and noticed construction happening beside the food court and down at the other end where that home store used to be. Could be good news for once?

[Bunnyhop]

There was a food court reno planned for last fall - maybe its finally going ahead?

[my10cents]

Hmmm could be then. But there's also something going on at the other end too. New store maybe?
We need a re vamp of this mall, the landscaping looks much better on the outside lot, however the building itself is old and tired. New stores would sure help and a new food court with more food offerings. A pub-style restaurant would be nice in the empty location where the Ricky's was. I''m not familiar with how malls work, but that location has been empty for a long time. I wonder who owns the mall and why everything is taking so long? (edited for a spelling mistake)

[twobits]

Hmmm could be then. But there's also something going on at the other end too. New store maybe?
We need a re vamp of this mall, the landscaping looks much better on the outside lot, however the building itself is old and tired. New stores would sure help and a new food court with more food offerings. A pub-style restaurant would be nice in the empty location where the Ricky's was. I''m not familiar with how malls work, but that location has been empty for a long time. I wonder who owns the mall and why everything is taking so long? (edited for a spelling mistake)

Welcome to Amazon.com/ca

Malls like this are old models. The only way they will survive is to convert to food and entertainment as their core draw.......if they can. Retail that comes from that traffic will be secondary income.
The Bay will be gone in 3 to 5.
Condo towers in 5 to 8. The parking lot is worth more in real estate footprint than the actual mall net revenue.

[DolanTheDuck]

Ardene's will be moving into that unit.

[Chimera]

Hopefully Cherry Lane can attract better chain stores. It is sad in there. I'm still shocked that Orange Julius packed up and left. When stores started leaving, like Bootlegger, Ricki's, and Cleo's I started going to Orchard Park mall in Kelowna. I want to shop local but how can I if there is nothing I want to buy in there? And no, you can't buy everything on Amazon, I won't buy clothing online as these things need to be tried on first. Cherry Lane conducted a survey a few years ago asking people what they would like to see inside the mall and I have not seen anything on my wish list happen thus far. What I'm wanting to know is what are the managers at Cherry Lane doing to attract more business? Is the rent too high? Why are chain stores not coming to Penticton? Is Kelowna too close?

Edited to add:

Ok I read that Ardene's is coming. That is good news. I don't mean to be a party-pooper but now another accessories shop, Claire's, will be competing with them. People's Jewelers eventually closed after Michael Hill and that other jewelry store opened directly across the way. There was obviously no room for 3 jewelry stores. Just sayin'

[RupertBear]

Ardene's will be moving into that unit.

What is Ardene's?

[Chimera]

Ardene's is similar to Claire' but also sells shoes and clothing.

[southy]

And caters to a younger demographic .... very interesting.

[twobits]

Hopefully Cherry Lane can attract better chain stores. It is sad in there. I'm still shocked that Orange Julius packed up and left. When stores started leaving, like Bootlegger, Ricki's, and Cleo's I started going to Orchard Park mall in Kelowna. I want to shop local but how can I if there is nothing I want to buy in there? And no, you can't buy everything on Amazon, I won't buy clothing online as these things need to be tried on first. Cherry Lane conducted a survey a few years ago asking people what they would like to see inside the mall and I have not seen anything on my wish list happen thus far. What I'm wanting to know is what are the managers at Cherry Lane doing to attract more business? Is the rent too high? Why are chain stores not coming to Penticton? Is Kelowna too close?

Edited to add:

Ok I read that Ardene's is coming. That is good news. I don't mean to be a party-pooper but now another accessories shop, Claire's, will be competing with them. People's Jewelers eventually closed after Michael Hill and that other jewelry store opened directly across the way. There was obviously no room for 3 jewelry stores. Just sayin'

It's entirely about the value of real estate. Cherry Lane would be better off if they were actually located in OK Falls where real estate prices would not command 40 bucks a sq ft plus triple net common area costs. That sounds silly but it is likely true for the investment math..
It's the opportunity cost of a different use for real estate. Cherry Lane was built mid 70's so most of it is close to 50 yrs old. When it was built, the land was probably picked up for 500k. Investment in building on top made sense. Now that the building is close to 50 and the land is worth 25 million for towers......retail doesnt make much sense for an Investment Banker.

[my10cents]

Ardene's will be moving into that unit.

Is that true? And I must have missed it being announced? Where is the article on that one?

[Jhunter199]

A pub-style restaurant would be nice in the empty location where the Ricky's was. I''m not familiar with how malls work, but that location has been empty for a long time.

A franchise eatery could not survive in there, not a chance a proprietor pub would have a chance of success. The lease cost is huge, foot traffic is almost non-existent unless you count the seniors that meet for coffee everyday.
Combined with the upcoming increases in minimum wage, you would have to change $11 a pint and $23 for a burger just to keep the doors open.
Unfortunately, all these types of malls charge extremely high sq/ft rates for leases combined with the triple net makes it impossible to be profitable.

[DolanTheDuck]

Ardene's will be moving into that unit.

Is that true? And I must have missed it being announced? Where is the article on that one?

There was no article posted. I found out through two means:
1) Back in March, I saw a woman taking photos of the empty units (former Dollar Store & Toyota) , and I asked her why. She informed me that she was an employee of Ardene's, and that they were going to be taking both units to turn into one large store.
2) I asked the head of mall security, and they confirmed it.

Related, they still do not have any tenants for their desired food court expansion, which was supposed to be completed January 2018.

[my10cents]

There was no article posted. I found out through two means:
1) Back in March, I saw a woman taking photos of the empty units (former Dollar Store & Toyota) , and I asked her why. She informed me that she was an employee of Ardene's, and that they were going to be taking both units to turn into one large store.
2) I asked the head of mall security, and they confirmed it.

Related, they still do not have any tenants for their desired food court expansion, which was supposed to be completed January 2018.

Ardenes? Well that is interesting. So that is one big unit. (taking dollar store and toyota)

So what else is going in where Showcase used to be? I noticed they relocated just across from where they were.

And what about at the other end of the mall - the back entranceway where that gift store used to be. The unit is blocked off by a wall in the mall and there's some kind of stuff in the windows so you can't see in. Would mall security know?

All in all it is good to see something going on in there.

It is a very clean little mall, I would hate to see anything bad happen there - it's been around for so long in our town. I remember when it opened. ( oops I just gave away my age range!

[Chimera]

After all this excitement about a new store coming I had to go visit Cherry Lane. Now I see that Origami is permanently closed also.