My guess... Who buys the mall will keep it open and hope to build it's number of stores and shoppers. No reason to buy it and close it unless he has other plans for the location.
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
Just as crazy as price chopper doing it. Yup, way out of left field.
Yup, so you circle the field instead of supporting your CLAIM! 1st - you stated they "WOULD" subsidize CDTA...that's an indication that you are saying it is real and would happen....so back it up with proof! 2nd - B I G difference between subsidize by PC (small peanuts, locally focused) vs. Walmart..... PC is locally owned and community oriented....Walmart is MEGA-GLOBAL, corporate HQ in ARK and PROFIT ORIENTED....
So if you know something the rest of us don't as being what would happen, then back it up with proof.............until then just another made up Cissy-tale
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
My guess... Who buys the mall will keep it open and hope to build it's number of stores and shoppers. No reason to buy it and close it unless he has other plans for the location.
I don't know what commercial real estate goes for, but the 2 million dollar opening bid has got to keep parties that want to demolish it and start over away...for now...I don't think they'll have any bids at that price.. To be viable, the mall at the very least needs a huge makeover that may exceed the 2 million + that a prospective buyer purchases it for.. This mall was star-crossed from beginning...from the aquifer fight, to a center fountain that was so poorly engineered, it needed to be reduced in height because shops nearby could not hear their customers and the employees ears would ring after a shift... not to mention the cemetery... this place needs an Exorcism.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
The excorcism will be performed by Ray Gillen at the taxpayers expense. Any purchase will be contingent on a portion of demolition costs be on the taxpayer dime. I smell another Metroplex boondoggle.(Can anybody say Galesi?)
The excorcism will be performed by Ray Gillen at the taxpayers expense. Any purchase will be contingent on a portion of demolition costs be on the taxpayer dime. I smell another Metroplex boondoggle.(Can anybody say Galesi?)
My money is still on Wal Mart.
Why would they not buy it when they wanted to open a super center one block up the hill on Burdeck St.
Walmart has the deepest pockets, and if they want it they will get it.
Why would they not buy it when they wanted to open a super center one block up the hill on Burdeck St.
Walmart has the deepest pockets, and if they want it they will get it.
They would love to bi tch slap K-Mart and Sears.
Just seems like quite an expense for demolition. Burdeck St was new construction. I can't see them retrofitting a SuperCenter in that space without millions in renovations. I see more of a Clifton Country Mall renovation. I expect more shoddy Galesi redevelopment filled with tax exempt discount retailers and county government offices.
Just seems like quite an expense for demolition. Burdeck St was new construction. I can't see them retrofitting a SuperCenter in that space without millions in renovations. I see more of a Clifton Country Mall renovation. I expect more shoddy Galesi redevelopment filled with tax exempt discount retailers and county government offices.
Guess that means Walmart won't subsidize CDTA then!!!!
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
Rockwood Real Estate Advisors and Auction.com have been retained on an exclusive basis by Ownership to market to qualified investors an exceptional opportunity to acquire Rotterdam Mall (the Mall or Property), a strategically positioned, single-level enclosed regional mall with a gross leasable area of 583,937 square feet that is currently 86.9% occupied. The Property is strategically located approximately one mile south from Interstate-890, which runs north-south from an interchange with the New York State Thruway (I-90) in Schenectady, New York. The Property sits approximately twenty miles north of New Yorks capital city, Albany.
The owned portion of the Mall consists of 463,987 square feet and includes two anchor boxes; Sears (103,296 SF) and Kmart (86,479 SF, ground leased) and major tenants TJ Maxx (27,900 SF), Shoe Department Encore (23,786 SF) and Rotterdam Square Cinema (20,600 SF)a recently renovated cinema which includes stadium seating, 3D theaters and digital sound. Of the Property in its entirety, anchor and major tenants consist of 382,061 square feet, or 65.4%, and with the exception of TJ Maxx (exp. 11/14) and Sears (exp. 8/1, have substantial remaining lease terms. The Property also contains over 50 stores and services, comprising 201,926 square feet, including notable national retailers: American Eagle, Victorias Secret, Aeropostale, Gap Outlet, Bath & Body Works, DEB, Olympia Sports, Rue21, Christopher and Banks, and Gamestop to name a few.
Starting Bid: 2,000,000; Online Bidding: December 9th-11th
Just seems like quite an expense for demolition. Burdeck St was new construction. I can't see them retrofitting a SuperCenter in that space without millions in renovations. I see more of a Clifton Country Mall renovation. I expect more shoddy Galesi redevelopment filled with tax exempt discount retailers and county government offices.
The proposed store in 2006, on Burdeck St, was for a 208,411 sq.ft. supercenter consuming the entire parcel between Burdeck, Princetown and Thompson streets. That would have meant demolition of 2 dozen homes, an apartment complex and the old republican club buildings.
Walmart could easily slip a 208,000 sq. ft. supercenter between the K-mart and Sears buildings.
The current structure is well over 500,000 sq. ft.
The only thing that stopped Walmart was the town board rezoned the parcel.
I doubt they could rezone the mall to not be retail/commercial.
[b]The proposed store in 2006, on Burdeck St, was for a 208,411 sq.ft. supercenter consuming the entire parcel between Burdeck, Princetown and Thompson streets. That would have meant demolition of 2 dozen homes, an apartment complex and the old republican club buildings.
I don't recall the 2 dozen homes ever being an issue(I'm assuming those on Princetown Rd). I knew the apartment building was in play. I thought all they had was the old republican club building and little league fields to deal with.
Great...now show me support for your claim that Walmart would do this!
they do it for their employees just like every other med/large business does for their lower wage workers.......
and it's a good percentage.....but still cheaper than hourly wages...and it can be manipulated without anyone making a stink because it falls outside of the federal employment labor laws because it's a BENEFIT and has nothing to with your hours worked/wages earned/breaks/lunches/overtime.....
just like medical insurance was a benefit...now it will be regulated just like minimum wage...so I'm not to sure tossing it into the hands of politicians will be a win/win.....the worker just gets to be a pawn podium puck.....
that's why the unions wanted an option to opt out of national medical insurance, it was one bargaining chip that worked very well for them and had a lot of weight....
...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......
The replacement of morality and conscience with law produces a deadly paradox.
STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS
Rotterdam Square to be sold in online auction Saturday, December 7, 2013 By Bethany Bump (Contact) Gazette Reporter
ROTTERDAM — Want to own a mall? You’ll have your chance this week.
Starting Monday, Rotterdam Square mall will be for sale to the highest bidder in an online auction lasting two days. The Santa Monica-based Macerich Co. has retained New York City firm Rockwood Real Estate Advisors and Auction.com to market the mall, which it purchased in 2005.
The starting bid is $2 million on a property that was assessed at $30 million this year and had a tax bill of more than $444,000. The mall at 93 W. Campbell Road includes 585,000 square feet of retail space on about 70 acres of land and comes with a food court, restaurant, movie theater, three anchor stores and more than 50 retailers.
It’s unclear why Macerich wants to sell the mall. Company officials could not be reached for comment Saturday.
Macerich bought Rotterdam Square eight years ago in a $2.3 billion acquisition of its Rochester-based parent company, Wilmorite Inc. The buyout came with 11 regional malls, including Wilton Mall outside Saratoga Springs, and two open-air shopping centers.
At the time, Rotterdam Square was said to have the lowest occupancy rate of all Wilmorite shopping centers, at 89 percent. Eight years later, that number has fallen. Today, the mall is 86.9 percent occupied, according to a real estate listing on LoopNet.
Where Wilton Mall continues to add tenants and anchors (the popular Vermont-based Healthy Living Market opened there in March), Rotterdam Square has had a harder time coming by new tenants.
The mall, built in 1988 just south of Interstate 890, has three main anchor stores — Kmart, Sears and Macy’s — and several major tenants, such as Gap, TJ Maxx, Shoe Department Encore, American Eagle Outfitters, Victoria’s Secret and the seven-screen Rotterdam Square Cinema.
From the get-go, Macerich had hoped to attract more national retailers to Rotterdam. The California company owns, operates and develops major retail properties across the country. But almost immediately after its 2005 purchase, it was Wilton Mall — which was already at 97 percent occupancy — that gained new tenants or saw expansions, like a new 84,000-square-foot JCPenney.
In 2010, about a fifth of Rotterdam Square’s storefronts were empty, according to an unofficial Daily Gazette survey. Express Limited, Borders Express and Friendly’s had all recently left, along with a McDonald’s and several other fast-food chains in the food court. Mall officials at the time downplayed the number of vacancies and declined to discuss their occupancy rate.
“Really, retail is all about that change,” then-property manager Chip Ferguson told the Gazette in 2010. “We’re going to get that change all the time.”
Beginning Monday, interested buyers can bid on the 463,987 square feet of the mall that Macerich owns at http://www.auction.com. Anchor and major tenants occupy about 65 percent of the mall’s square footage, and with the exception of TJ Maxx and Sears, have substantial remaining lease terms.
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, have substantial remaining lease terms. The Property also contains over 50 stores and services, comprising 201,926 square feet, including notable national retailers: American Eagle, Victorias Secret, Aeropostale, Gap Outlet, Bath & Body Works, DEB, Olympia Sports, Rue21, Christopher and Banks, and Gamestop to name a few.
