Cherry Lane losing three stores

biggoofball
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Re: Cherry Lane losing three stores

Post by biggoofball »

mrmagoo wrote:In my view the national retail decline is directly correlated to the rise of online shopping. I bought lots of interesting things for the garden online this year - free shipping, well-priced and not available locally. I don't see the trend reversing.


exactly what I said above until retailers in stores get back to reality on prices the trend as you say will continue
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fluffy
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Re: Cherry Lane losing three stores

Post by fluffy »

biggoofball wrote:...until retailers in stores get back to reality on prices the trend as you say will continue


I don't see how that will ever happen. How can a store front retailer in little ole Penticton hope to compete with outfits doing such a huge volume they can still profit handsomely with small mark-ups, markups that wouldn't even pay the rent in a mall.
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wanderingchef
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Re: Cherry Lane losing three stores

Post by wanderingchef »

Here is an idea....... Lets shut the mall down completely. Is it really necessary to have a gigantic indoor shopping plaza?
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fluffy
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Re: Cherry Lane losing three stores

Post by fluffy »

If you get into some of the major centers it's plain that the popularity of shopping malls is not waning noticeably, but it's pretty evident at Cherry Lane that traffic is down. I was there for groceries late yesterday afternoon and the place was a graveyarf. There were a number of empty storefronts already, even without the pending closures of the Bootlegger/Cleo's/Ricki's group. With even more boarded up stores the place is going to take on an atmosphere that is going to drive even more shoppers away.
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jimmy4321
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Re: Cherry Lane losing three stores

Post by jimmy4321 »

I don't know how easy it is the sell leases in a mall. I like those stand alone stores like a strip mall but laid out like an old school main street with some common grounds for bands,and other celebrations. Off topic a little but here's a link to one of these developments.

As great as the weather is year round im surprised the okanagan doesn't have a similar development at this scale.

http://www.dartmouthcrossing.com/pull-f ... r-2010.php
http://www.rgrichards.com/projects/dartmouth-crossing/
Joe Public
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Re: Cherry Lane losing three stores

Post by Joe Public »

Just a canary in a coal mine.

Disposable income of the working middle class drives the economic engine known as small business.

For the past decade, right wing governments in both BC and Canada have attacked that disposable income by stagnating or reducing wages to close to 0.2%, while at the same time have offset their corporate tax reductions by increasing user fees at rates much higher than inflation. The result is the disappearance of disposable income, and the reduction of spending in small businesses.

Everyone seems so happy to support the governments when they do this, and surprised when their friends and neighbours go broke, yet it is one in the same phenomenon.
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sublime
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Re: Cherry Lane losing three stores

Post by sublime »

Joe Public wrote:Just a canary in a coal mine.

Disposable income of the working middle class drives the economic engine known as small business.

For the past decade, right wing governments in both BC and Canada have attacked that disposable income by stagnating or reducing wages to close to 0.2%, while at the same time have offset their corporate tax reductions by increasing user fees at rates much higher than inflation. The result is the disappearance of disposable income, and the reduction of spending in small businesses.

Everyone seems so happy to support the governments when they do this, and surprised when their friends and neighbours go broke, yet it is one in the same phenomenon.


That is 100% the truth.
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Static
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Re: Cherry Lane losing three stores

Post by Static »

Joe Public wrote:Just a canary in a coal mine.

Disposable income of the working middle class drives the economic engine known as small business.

For the past decade, right wing governments in both BC and Canada have attacked that disposable income by stagnating or reducing wages to close to 0.2%, while at the same time have offset their corporate tax reductions by increasing user fees at rates much higher than inflation. The result is the disappearance of disposable income, and the reduction of spending in small businesses.

Everyone seems so happy to support the governments when they do this, and surprised when their friends and neighbours go broke, yet it is one in the same phenomenon.


Higher Corporate tax results in higher prices so there is zero benefit of raising them. The consumer must support local business to keep the money in the economy rather have the funds shipped to a head office somewhere else.
twobits
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Re: Cherry Lane losing three stores

Post by twobits »

fluffy wrote:If you get into some of the major centers it's plain that the popularity of shopping malls is not waning noticeably, but it's pretty evident at Cherry Lane that traffic is down. I was there for groceries late yesterday afternoon and the place was a graveyarf. There were a number of empty storefronts already, even without the pending closures of the Bootlegger/Cleo's/Ricki's group. With even more boarded up stores the place is going to take on an atmosphere that is going to drive even more shoppers away.


What is happening right now is a price adjustment on commercial real estate. The brick and mortar concept is just finally beginning to realize the competition from online marketing. And the impact is being felt first from the smaller markets like Penticton. "Malls" are going to have to re-evaluate their roi's in smaller markets. Small retailers in Cherry Lane cannot afford 30 bucks a square plus common area costs. Those numbers previously supported inflated real estate values. The problem smaller markets like Cherry Lane have is the transition to return on actual real estate values. How do you lease out that empty store for 50% less than the lease next to you without a challenge? And forget about the big anchors......they are already paying 25% compared to the little retail guy.
My humble advice....if you are in a mutual fund that focuses on commercial real estate.....take a serious look at the mix between retail and office. If weighted retail.......?
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fluffy
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Re: Cherry Lane losing three stores

Post by fluffy »

Dump the retail REITs,for medical/ rest-home facilities ?
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southy
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Re: Cherry Lane losing three stores

Post by southy »

fluffy wrote:Dump the retail REITs,for medical/ rest-home facilities ?


Hell in this market - one should really be looking at investing in a private cemetery.
Last edited by southy on Apr 7th, 2015, 10:08 pm, edited 1 time in total.
lifechoice
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Re: Cherry Lane losing three stores

Post by lifechoice »

southy wrote:Hell in the market - one should really be looking at investing in a private cemetery.


Good idea...now try to get the permits to bury dead people, privately...
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onestop67
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Re: Cherry Lane losing three stores

Post by onestop67 »

Hey fluffy...I'm back!!!
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fluffy
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Re: Cherry Lane losing three stores

Post by fluffy »

onestop67 wrote:Hey fluffy...I'm back!!!


Oh cripes. There goes the neighbourhood. ;)
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onestop67
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Re: Cherry Lane losing three stores

Post by onestop67 »

fluffy wrote:Oh cripes. There goes the neighbourhood. ;)


lmao Not the neighbourhood, just the last remaining stores in the mall!!!

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