Northlake Mall

[caterpillar2]

Well there's nothing wrong with it, nor is it bad. However, it's really not anything special like SouthPark is. It's just not really a destination mall. It's like North Point Mall in Atlanta. It's nice, but nothing compared to Lenox or Phipps.

I agree that South Park is superior, but Northlake Mall 'is' definately a destination for those that live in north Mechlenburg. We have Birkdale, but shopping is limited. Northlake is just you standard, just above average, mall. No complaints. I just hope that something nice is put in place of Grape.

[southslider]

Does Northlake still have the distinction of being the last new mall (in the conventional sense, that is-- fully indoor, dept-store-anchored) to open (2007?) in America?

[101_ce]

Where is Haywood Mall?

Greenville, SC

I think I have changed my mind. I think that they are about the same. I just think that Northlake seems too generic.

I agree that South Park is superior, but Northlake Mall 'is' definately a destination for those that live in north Mechlenburg. We have Birkdale, but shopping is limited. Northlake is just you standard, just above average, mall. No complaints. I just hope that something nice is put in place of Grape.

Well I guess it's a pretty good mall. I guess I will have judge it from the actual mall instead of just pictures. I will be making my first trip to the Northlake Mall and my tenth trip to SouthPark on Saturday

Does Northlake still have the distinction of being the last new mall (in the conventional sense, that is-- fully indoor, dept-store-anchored) to open (2007?) in America?

I think it does, however, The Mall at Oyster Bay in Syosset, New York will be opening sometime in 2012 (I think).

Edited August 25, 2010 by ct36

[mallguy]

If Northlake were in any mid-sized city (Greenville, Columbia, etc.), it'd be "the" mall, with a good selection of nicer stores and being large and attractive. Too bad it's in the shadow of SouthPark, and with Birkdale right in its backyard.

(Haywood's exterior and parking lot are hideous- seem to be largely unrenovated/un-updated since 1980! The two malls are comparable inside, in terms of decor, but not outside!)

[101_ce]

If Northlake were in any mid-sized city (Greenville, Columbia, etc.), it'd be "the" mall, with a good selection of nicer stores and being large and attractive. Too bad it's in the shadow of SouthPark, and with Birkdale right in its backyard.

(Haywood's exterior and parking lot are hideous- seem to be largely unrenovated/un-updated since 1980! The two malls are comparable inside, in terms of decor, but not outside!)

The parking lot is definitely hideous! Sears is too. Dillard's is too generic, JCPenney isn't anything to write home about, either. Macy's at Northlake looks nicer, but it is a lot more unique than the Northlake store. I really like the Belk, though. I haven't seen another one like it.

[malldude85]

Well Black Friday weekend was a bust. Sales dropped really low this year. Our store dropped 45%

[mallguy]

Well Black Friday weekend was a bust. Sales dropped really low this year. Our store dropped 45%

How did the mall do overall? Any new closings?

[StevenRocks]

I'm hoping things will improve... Charlotte doesn't need another dead mall.

[mallguy]

I'm hoping things will improve... Charlotte doesn't need another dead mall.

Neither does Taubman (+ Willow Bend).

[bchris02]

The problem with Northlake isn't that it's a bad mall it's just it's offerings are inferior to the other malls in the metro area. Most people will drive to Southpark, Concord Mills, or even Carolina Place over Northlake. In addition, the mall was built with the expectation of continued residential growth in north Charlotte but then the economy tanked. Because of this I have worries about the malls viability in the mid-term future.

[StevenRocks]

I can't comment on the current tenant mix because I only go to this mall sporadically, but from what I remember the specialty offerings were SouthPark-esque at one time. I think the comment about the housing market not catching up with the mall's aspirations is a truer statement than it being a inferior tenant mix.

[bchris02]

Charlotte cannot support two malls on the level of Southpark. Northlake will be inferior no matter what. At best, it will be the northside's Carolina Place. I think if the mall can hold on until the economy recovers it will do alright. The bad thing is if it starts to get too many vacancies before then it could end up on a downward spiral from which it would never recover.

[mallguy]

Northlake should beware of getting too many former Eastland stores, too- I haven't been to Northlake in ages but the directory shows a few "urban" stores.

When Soccer Mom is planning to take the kids shopping, if she can drive just another few miles (or a shorter distance, if she lives at the lake) to Birkdale and have no "urban" element there, guess where she'll go?

Sidenote: I'd guess that the chains that have stores at both Birkdale and Northlake, such as Banana Republic and Dick's, were just hedging their bets. Do we need identical stores just a few miles from each other?

[bchris02]

Northlake should beware of getting too many former Eastland stores, too- I haven't been to Northlake in ages but the directory shows a few "urban" stores.

When Soccer Mom is planning to take the kids shopping, if she can drive just another few miles (or a shorter distance, if she lives at the lake) to Birkdale and have no "urban" element there, guess where she'll go?

Sidenote: I'd guess that the chains that have stores at both Birkdale and Northlake, such as Banana Republic and Dick's, were just hedging their bets. Do we need identical stores just a few miles from each other?

I agree. Which development was built first, Northlake or Birkdale? It seems to me like it was poor planning in the midst of a speculative frenzy. Is there any way both developments can be supported long-term?

[StevenRocks]

Birkdale should be alright in the long term. It's got a decent location, it's rather pretty and it doesn't have the taint of M-A-L-L to the average person, though it is most definitely a mall, just without department stores.

Northlake will have to be careful not to go too "urban" for the reason mallguy said. Sad to say, if one too many "urban" kids starts hanging around, or, God forbid, a group of them, then the mall becomes "unsafe" even though most of those kids are just hanging out at the mall like the same scared people did a generation ago.

[SmellyCat]

Birkdale should be alright in the long term. It's got a decent location, it's rather pretty and it doesn't have the taint of M-A-L-L to the average person, though it is most definitely a mall, just without department stores.

Northlake will have to be careful not to go too "urban" for the reason mallguy said. Sad to say, if one too many "urban" kids starts hanging around, or, God forbid, a group of them, then the mall becomes "unsafe" even though most of those kids are just hanging out at the mall like the same scared people did a generation ago.

LOL, so true Stephen. It always cracks me up when suburbanites say they feel threatened - when we can all read between the lines and see it's because they see people that don't dress or look exactly like they do. My gosh, diversity!! So they run back to their quaint little bedroom communities where they are back in their comfort zone.

[StevenRocks]

LOL, so true Stephen. It always cracks me up when suburbanites say they feel threatened - when we can all read between the lines and see it's because they see people that don't dress or look exactly like they do. My gosh, diversity!! So they run back to their quaint little bedroom communities where they are back in their comfort zone.

I missed the golden age of suburbanites hanging out at malls back in the '70s and '80s, but the stories I hear weren't the least bit "Leave It To Beaver" like. The same things happened back then. The only difference was the cast of characters. Another difference was the lack of media interest in those stories back then.

[mallguy]

Birkdale should be alright in the long term. It's got a decent location, it's rather pretty and it doesn't have the taint of M-A-L-L to the average person, though it is most definitely a mall, just without department stores.

Northlake will have to be careful not to go too "urban" for the reason mallguy said. Sad to say, if one too many "urban" kids starts hanging around, or, God forbid, a group of them, then the mall becomes "unsafe" even though most of those kids are just hanging out at the mall like the same scared people did a generation ago.

Agreed (as always- StevenRocks, your posts are always very good).

Birkdale was built first. It thus could get its customer base first, and it's closer to the chi-chi neighborhoods at the lake.

[StevenRocks]

I want both malls to survive. Birkdale and Northlake are both very well planned and well-executed.

[Urbanity]

Interesting article in today's O about the health of Charlotte area malls. Concord Mills, Carolina Place and Nothlake all boast above 90% occupancy rates.

The section on Northlake:

North Lake Mall opened amid great anticipation, drawing as many as 80,000 people to its September 2005 debut. The owners borrowed $215.5 million in 2006 for the northwest Charlotte mall.Last year, the mall pulled in $1.50 for every $1 it paid on its loan, according to the most recent loan records provided to Bloomberg by TREPP. Investors and lenders like to see income-producing properties make at least $1.20.

"What we're seeing so far this year looks good. And what we're hearing is optimistic from retailers for this upcoming season," Northlake Mall's general manager, Phil Morosco, said this fall. Northlake boasted a 96 percent occupancy rate last year.

Edited December 27, 2010 by Urbanity

[mallguy]

Thanks for the info- fascinating article. Northlake must be doing OK then. There was a companion article in the Observer that stated that 6 Carolinas mall out of 23 are having debt servicing issues, including Citadel Mall in Charleston and Colonial Mall in Myrtle Beach. No surprise with Citadel as the WSJ listed it as one of the US malls with the lowest sales per sf, but do we know what the others are? Presumably Eastridge Mall in Gastonia?

[DigitalSky]

Interesting the O failed to mention Eastland anywhere in the article.

mallguy- I'm willing to bet other malls include Oak Hollow Mall in High Point, Biltmore Square Mall in Asheville

Edited December 29, 2010 by DigitalSky

[mallguy]

Interesting the O failed to mention Eastland anywhere in the article.

mallguy- I'm willing to bet other malls include Oak Hollow Mall in High Point, Biltmore Square Mall in Asheville

You're so right- I had forgotten about Biltmore Square. The owners took out a massive loan on it a few years ago. (Wouldn't a stroll through the mall lead a thinking lender not to lend a cent on the property?)

I'd also assume Columbia Place in Columbia, and, if it's mortgaged, Richland Mall in Columbia?

ETA: I see from quick research that Oak Hollow Mall was built for $75MM in 1995 but was sold for $15MM this year, and is anchored by stores including a Dillard's Clearance Center and a Sears call center? Ouch.

Edited December 29, 2010 by mallguy

[StevenRocks]

Some of the spaces at these malls are being held by marginal retailers when the bigger tenants leave, but if the properties are still healthy overall, there's not much to dispute.

[mallguy]

Northlake seems to be doing fine, based on a recent visit. Apart from a few "filler" and Eastland-type stores, it seemed to have a low vacancy rate and good crowds, even in the Dillard's. (Caveat- it was raining so maybe people were just temporarily avoiding Birkdale.)