Belk Leaving Regency

[fsujax]

It is official now. Not surprising though.

http://www.jaxdailyrecord.com/showstory.php?Story_id=543867

[AuditoreEnterprise]

It was only a matter of time until an anchor left. I wonder what the plan is to replace it... I have seen retailers do well in malls. Specifically Target in Los Angeles, I do doubt that will happen as there is one down the street, but it leads to a good question will anyone be bold enough to take a huge chance on it or will that be a critical blow to the mall.

[fsujax]

Article says they are going to bid on the Citizens RFP for space.

[IrvAdams]

Regency is such a busy crossroads area, and so very accessible, and there's so many people living nearby. With a proper mix of retail/restaurant/office space I am still quite confident these new owners can make a go of it.

There's a new housing development nearby that's selling like hotcakes. Just shows that there's still demand and income in this area.

[AuditoreEnterprise]

Church, Charter school and office building... Not sure if that will really work, but it would be interesting to see. The office bid would cut off sears and dillards off from the rest of the mall though, unless they are going to allow people to walk through their space to get to it.

[river4340]

Church, Charter school and office building... Not sure if that will really work, but it would be interesting to see. The office bid would cut off sears and dillards off from the rest of the mall though, unless they are going to allow people to walk through their space to get to it.

I'm not sure that a lot of people walk from Belk down to Sears or Dillards now. It's all empty. Mainly people out walking for exercise.

[thelakelander]

Church, Charter school and office building... Not sure if that will really work, but it would be interesting to see. The office bid would cut off sears and dillards off from the rest of the mall though, unless they are going to allow people to walk through their space to get to it.

It won't. Regency will continue to die as a retail destination......just like Desoto Square Mall (the other place this group owns) if that's the grand plan.

[InnerCityPressure]

This will only get worse until SJTC falls out of favor in, what, 15 years?  Then, they will knock this down and build the new thing...

[thelakelander]

^The new thing will probably be in northern St. Johns County. Regency will eventually go the way of Gateway, Philips, and Normandy.

[I-10east]

Avenues and Orange Park Mall is still doing good, and they have been around much longer than the SJTC. IMO putting any kind of timeline as to when SJTC will 'come back down to earth' is just purely wild speculation, regardless of what new thing will be built wherever. SJTC's 'downfall' is something that's in the unforeseen future.   

[thelakelander]

^Both have reinvented themselves over the years.  SJTC will have to do the same in 10-15 years.  Regency has actually last much longer than most enclosed malls. It's been around since 1967 and stayed around due to successfully reinventing itself over the decades.  Unfortunately, the last attempt at updating itself was sometime in the 1990s. In any event, regardless of what happens to SJTC, expect something to materialize in northern St. Johns County as it continues to grow.

[I-10east]

^^^IMO SJTC will be okay, as long as the criminal element doesn't overtake it which I don't see happening any time soon. The area is surrounded by upscale housing with SJTC being an enclave. SJTC is outdoors, so I don't see them having to make any dramatic changes with 'reinventing' like an indoor Avenues etc. They continue to expand with new phases, making SJTC a preferred retail destination. I know that some will correlate a 'suburban parking lot layout' as being unpreferred and needing dramatic changes, but the people that matters (dollars & cents-wise) really don't care about that, and they continue to shop there.

[thelakelander]

^As time goes on and the surrounding building stock ages, the demographics will change. That's the general pattern of development in Jax and several American communities like it, since the end of WWII.  I don't really have an opinion on the future of SJTC. My only comment is that it will need to eventually reinvent itself to cater to the evolution of future retail trends. If it doess, perhaps it will last as long as Regency has.  If it doesn't, it may end with a much shorter life span.

[AuditoreEnterprise]

I forgot all about desoto... Good point Lake

[copperfiend]

^Both have reinvented themselves over the years.  SJTC will have to do the same in 10-15 years.  Regency has actually last much longer than most enclosed malls. It's been around since 1967 and stayed around due to successfully reinventing itself over the decades.  Unfortunately, the last attempt at updating itself was sometime in the 1990s. In any event, regardless of what happens to SJTC, expect something to materialize in northern St. Johns County as it continues to grow.

Agree with you there. I grew up in St Pete and we have probably half a dozen malls on that side of the bay.

The only one left is Tyrone Square and that was the only one that seemed to be modernized at any point.

I suspect (perhaps ignorantly) that SJTC will continue to thrive as long as companies like BCBS, Merril Lynch, BOA and Vistakon have offices within a couple miles of the mall.

I also agree about Northern Saint Johns County. I would not be surprised to see a mall or something similar in the Nocatee/WGV area. I know there were plans for one a decade or so ago before the financial meltdown.