Eastland Mall (Charlotte, North Carolina)

infobox shopping mall
shopping_mall_name = Eastland Mall


caption = Eastland Mall logo/entrance
location = Charlotte, North Carolina, USA
opening_date = 1975
owner = [http://www.glimcher.com/ Glimcher Realty Trust] (60%)
City of Charlotte (40%)
developer= [http://www.faison.com/index.html Faison]
number_of_stores = 120
number_of_anchors = 4
floor_area = 1,031,746 million square feet
(GLA) [cite web|url=http://www.costar.com/freesearch/Detail/Detail.aspx?p=5D1D6446C6A4571B96BEBD927EC997B3 | title=Eastland Mall, CoStar Group Commercial Real Estate Information |accessdate=2007-03-08]
floors = 2
website = [http://www.eastlandmall.com EastlandMall.com]

Eastland Mall is a shopping mall in the eponymous area of Charlotte, North Carolina. The center opened in 1975 as the then-largest mall in North Carolina with three anchor department stores, Belk, J.C. Penney and Ivey's, and a Sears store joined four years later. [cite web |url=http://www.searsarchives.com/stores/history_northcarolina.htm |title=Sears History |accessdate=2007-03-08] A thriving mall for almost three decades, in recent years the mall has seen a decline with changing demographics, retail shifts and an increased perception of crime. Currently, its future is uncertain, and the mall could be razed for redevelopment. The mall is currently owned by Glimcher Reality and the City of Charlotte though Glimcher has requested the mall be put into receivership due to heavy debt.

History

Development began on a shopping center in east Charlotte in the early 1970s after seeing the success of SouthPark Mall about six miles away. Henry Faison, the developer, recalls planning the mall with a team of only six people. [cite web |url=http://www.thmgmt.com/images2/ULI/05smr/2005-06%20YLG%20NL.htm |title=ULI Charlotte] . In 1975, Eastland Mall opened to much fanfare as the biggest mall in North Carolina at that time (superseded shortly after by Hanes Mall). In addition to anchor stores Belk, J.C. Penney, and Ivey's the mall also included something that SouthPark didn't: an ice skating rink. Additionally, the mall included an outparcel convenience center with a Harris Teeter grocery store and a General Cinemas movie theater.

Throughout the late 1970s and early 1980s, Eastland was considered by many to be the finest mall in Charlotte. Miller & Rhoads joined as a junior anchor, and when Sears was added in 1979, the mall had four anchor stores (SouthPark only had three), but that was soon to change. SouthPark expanded and began an upscale trend, and with the opening of the mid-market Carolina Place Mall in the early 1990s a suburban retail shift was occurring. Also in the early 1990s, Ivey's became Dillard's and the store expanded, and the mall's interior was renovated and updated as well.

Decline

Demographic changes

By the late 1990s, Eastland Mall's image and physical appearance began to degrade. Adding to the retail shift in Charlotte, demographic changes and ethnic shifts to the surrounding areas have changed the retail makeup of the mall. What many say has really contributed to the mall's downfall though is crime. [cite web| url=http://www.crimeincharlotte.com/search?q=Eastland| title=Crime In Charlotte: Eastland] The mall has been plagued by increasing street gang activity, despite repeated attempts to cull the gangs and curb the violence. In the fall of 2005 there was a shooting inside the mall near the Gourmet Gardens food court and also a shooting outside in the parking lot. Neither of these incidents was fatal, but all were damaging to Eastland's reputation. Another shooting took place in 2006 near the Food Court. A bullet smashed one of the glass doors and one person was shot. [cite news| url=http://www.wcnc.com/news/local/stories/112905-ad-wcnc-eastland.21002cf9.html| title=Eastland Mall back to normal after Monday shooting| publisher=WCNC-TV]

Mall and city officials cite that it is "a perception of crime" that has scared patrons away as opposed to actual crime happening every day. [cite web| url=http://www.wsoctv.com/news/11187747/detail.html| title=Channel 9 Eyewitness News| access date=2007-03-09 |work=Experts in town looking at ways to revitalize Charlotte's Eastland Mall| publisher=WSOC-TV]

Retail changes

The first original anchor store to depart the mall was J.C. Penney, which left in 2002 after a few years after becoming a J.C. Penney Outlet store. In 2004, the anchor space was split up and a Burlington Coat Factory store took the upper level, while the bottom space was subdivided between a Fred's discount store and Prime Time store. [http://www.bizjournals.com/charlotte/stories/2003/03/10/story1.html] Over the next few years it became visible that mainstay middle market tenants would start to vacate their spaces for more urban style stores.

The next major blow was in late 2005 when the Dillard's anchor store downgraded to an outlet and closed off its lower level. It has been rumored for some time now that Dillard's has been eyeing land in nearby Stallings or at the potential Bridges at Mint Hill project for some time now and wants to shut its Eastland doors down for good.

The Harris Teeter store closed on June 26, 2006, after being in operation since 1975. The store cited underperformance as the cause for its closure; however, changing demographics and lack of investment in remodeling may have contributed to this store's demise.

The most devastating blow for Eastland thus far has been Belk's departure from the mall. The original tenant left in February 2007, after nearly 32 years at the mall. Following Belk's departure, Limited Brands closed all five of their stores inside the mall, which included Bath & Body Works and Victoria's Secret. [http://findarticles.com/p/articles/mi_km4476/is_200612/ai_n17050203] Other national tenants, such as Chick-fil-A, Things Remembered, Spencer Gifts, American Eagle and others have also shut down recently.

The Sears store has become partially converted into an Outlet Center on its lower level, the Fred's anchor in the former JC Penney space closed, and Dillard's announced the closure of its clearance center in August 2008.

These retail changes have been accompanied by a degradation of the mall's physical appearance, which has deteriorated to the point that its owner, Glimcher Realty Trust, has labeled the mall a "fixer-upper". [http://charlotte.bizjournals.com/charlotte/stories/2006/08/14/story7.html?t=printable] The mall's deterioration has been mirrored in its surrounding area, labeled "corridors of crap" by a local politician due to its inexpensive and aging retail structures. [http://www.wcnc.com/news/topstories/stories/wcnc-030807-jmn-eastland-mark.2fab2c0b.html]

Future?

Despite the recent closing of mainstay Belk, the department store is willing to work with the city and mall owners to try to find a solution to do what is in the best interest of the community. One day after the announcement of Belk's departure, Eastland Mall officials announced the original movie theater showing first-run films will reopen after closing in 1996. It had reopened in the last few years but was only specializing in foreign language films and 'G' and 'PG' rated films. [cite news| url=http://www.charlotte.com/mld/charlotte/business/16253745.htm| title=Charlotte Observer |work=Movie theater to reopen at Eastland ]

On March 8, 2007, the Urban Land Institute Advisory Council shared its recommendations: to tear the mall down and make it into a vibrant community center with mixed-use shopping and an amusement park. [http://www.charmeck.org/NR/rdonlyres/eqnrxdbfaq5hnocyfvld5ufdgafdgj6frnemrygsinj6pjqyhgbgoefhkwsqccw5ew2o2iifbfj6b43azg7vogbfhub/EastlandFinal3.pdf Full report of ULI's findings] . [cite web| url=http://charlotte.bizjournals.com/charlotte/stories/2007/03/05/daily43.html| title=Group recommends razing Eastland Mall |work=Charlotte Business Journal]

The City of Charlotte has acquired an option to buy the soon-to-be vacant Dillard's anchor space, and rumors allege that Glimcher may walk away from the portion of the mall that it controls rather than pay an upcoming mortgage payment on the Eastland $42 million mortgage. [ {http://www.charlotte.com/171/story/684832.html} ]

In an earnings press release dated July 23, 2008, Glimcher Realty Trust announced that it "will not fund any further cash deficits at the property." The company also requested court-appointed receivership and liquidation for the property. [ cite web | url=http://www.glimcher.com/press/release/50-glimcher-reports-second-quarter-2008-results | title=Glimcher Reports Second Quarter 2008 Results | work=Glimcher Realty Trust press release ]

References

External links

* [http://www.eastlandmall.com/ Eastland Mall]
* [http://www.charmeck.org/NR/rdonlyres/ejma4ab4qv7dyh4bqh7v7silh3oenbdfk4ccizbijq5ep6mimguohubtlysa72xiofpyg5dez7sjhl2wyykx6e2c2df/Eastland+Mall.pdf Eastland Mall shopping center study (2003)]
* [http://livemalls.blogspot.com/search/label/Eastland%20Mall Eastland Mall photos & information at LiveMalls]
* [http://outdoors.webshots.com/album/149472741BzUXHc Photos of Eastland Mall in 2004]
* [http://www.charlotteeast.com/ Charlotte East community website]
* [http://www.charmeck.org/Departments/CATS/Rapid+Transit+Planning/Facility+-+Eastland.htm CATS Eastland Mall Transit Center]
* [http://deadmalls.com/malls/eastland_mall_nc.html Eastland at DeadMalls.com]