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Thread: Just a thought, What stores/malls are vacant?

  1. #1
    Senior Member thom's Avatar
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    Just a thought, What stores/malls are vacant?

    Ok here is a hit piece on the open box stores and malls?
    How many are open and who is buying them up? Can you say investors from that nasty state to the west. We are in a drought and these investors want to tear down malls and put up apartments.
    How many people will be able to afford water in the next 10 years because of new apartments?
    Tell your city councils about building permits and rezoning now before it is too late.

    Thom
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    Metrocenter and PV Mall are both closed. Metrocenter was like a post-apocalyptic movie set before the pandemic; most stores shuttered, a few discount places (was one shoe store on the lower level I liked,) and some rolling carts / kiosks. The place was dead and wasn't coming back.
    PV Mall was not quite as bad but close, shuttered storefronts and strange stores, like mortgage offices and other non-normal mall type places. You could see the end was near. Don't think it's a conspiracy. Apartment rents are going stratospheric just like house prices, need more inventory. The people who do it are people with the money / skills /backing to get it done.

    Here's the future for the PV Mall area.
    https://www.reddevelopment.com/parad...redevelopment/

    https://www.abc15.com/entertainment/...ould-look-like

    Red Development is HQ in downtown Phx.
    https://www.reddevelopment.com/who-we-are/#history

    Most water is consumed by agriculture which consumes abut 72% of the available water supply
    http://www.arizonawaterfacts.com/water-your-facts

    not trying to be an ass and no affiliation with any of it except as a longish time Phx person watching it all unfold. Oh, and triggered!

    Oh, Park Central, that's pretty much converted to corporate offices. Maybe the light rail and condo tower going up in the parking lot will bring something back.

  3. #3
    Senior Member thom's Avatar
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    This is one of those " I know a guy".
    He said that he is trying to rent vacant stores (plural) in Az for the spirit stores that sell halloween clothes and stuff. He usually uses the vacant stores but they are being bought out by california companies he said and then will be destroyed to put up apartment buildings here.
    Maybe he is just having a run of bad luck
    Last edited by thom; 06-16-2021 at 08:07 AM.
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    There's a strip mall called Bell Canyon Pavilions at Bell and I-17 that is pretty dead. One ex-grocery store there has been a Halloween haunted house for several years. Wouldn't think that pays the landlord anything comparable to what the grocery store paid. No doubt developers are looking for distressed properties like that to buy and turn into something else and the owners are glad to get out from under.

    Worse, in my opinion, than developers turning malls into apartments, are Californians coming here (and elsewhere in the west, particularly Idaho and MT,) with $1-2m+ from selling their 1100 sq foot ranch house and paying cash for 20% over asking here. Great if you are selling, sucks to be trying to buy, in particular first time young buyers.

  5. #5
    Senior Member thom's Avatar
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    I agree that the people coming in are paying 20% over asking. First time buyers can't afford it here, just like in Flagstaff also.
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    Senior Member Flash's Avatar
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    It is a poor time to be buying, but I feel that the housing bubble is about to pop again and that's when people should buy.

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    Quote Originally Posted by Flash View Post
    It is a poor time to be buying, but I feel that the housing bubble is about to pop again and that's when people should buy.
    yip, i gotta float my stick with you on this one, while it may not be real soon, its eventual that it will arrive, issue is the only folks with the monies to buy will be out of staters who have already sold theirs and looking for one.
    last couple years the first time buyers have been fubared in the buying market, shame, cause in my mind set, true freedom in America is to own your own home. Yeah i know gotta pay taxes and some will say'" you don't really own it"" but you do, taxes its the way of any ownership or purchase of anything for Freedom.
    jmo
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  8. #8
    Senior Member Flash's Avatar
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    Well, I pay around $1,500.00 in house taxes each year. That's $125.00/month. Houses like mine rent for around $1,500.00/month.

    So you never really own it? Okay, you have to pay registration on your vehicle every month, so I guess you never really own it either?

    Seems like a sound investment to me.

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    Quote Originally Posted by knockonit View Post
    yip, i gotta float my stick with you on this one, while it may not be real soon, its eventual that it will arrive, issue is the only folks with the monies to buy will be out of staters who have already sold theirs and looking for one.
    last couple years the first time buyers have been fubared in the buying market, shame, cause in my mind set, true freedom in America is to own your own home. Yeah i know gotta pay taxes and some will say'" you don't really own it"" but you do, taxes its the way of any ownership or purchase of anything for Freedom.
    jmo
    Rj

    Quote Originally Posted by Flash View Post
    Well, I pay around $1,500.00 in house taxes each year. That's $125.00/month. Houses like mine rent for around $1,500.00/month.

    So you never really own it? Okay, you have to pay registration on your vehicle every month, so I guess you never really own it either?

    Seems like a sound investment to me.

    The tax man owns your home, in perpetuity. No pay tax, no have home. Oh, and your vehicles, you're right, you don't own them if you don't have the certificate of manufacture. Hmm, wonder where that is huh???
    Have a great, gun carryin', Kenpo day

    Clyde

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