The Ames Fan Club

Malls and Shopping Centers => Current Shopping Malls and Shopping Centers => Topic started by: retailisking on September 29, 2016, 09:39:33 PM

Title: Promenade Mall in Lewiston, ME sold for $4 million
Post by: retailisking on September 29, 2016, 09:39:33 PM
Infamous dead mall that was once anchored by Bradlees and Service Merchandise has a new, ambitious owner.
http://www.sunjournal.com/news/business/2016/09/29/promenade-mall-sold-lewiston-broker-teases-turnaround-plan/2003015
Title: Re: Promenade Mall in Lewiston, ME sold for $4 million
Post by: danfifepsu on September 29, 2016, 11:17:18 PM
I went by there last month and it was mostly vacant. how come both Lewiston plazas are mostly vacant?
Title: Re: Promenade Mall in Lewiston, ME sold for $4 million
Post by: retailisking on September 29, 2016, 11:25:17 PM
Quote from: danfifepsu on September 29, 2016, 11:17:18 PM
I went by there last month and it was mostly vacant. how come both Lewiston plazas are mostly vacant?

Auburn started dominating chain retail in the 1980s, and it has snowballed since then. At this point Auburn pretty much owns chain retail in the L-A area. Everyone wants to be there, and those few retailers who attempt to gain a foothold in Lewiston have largely failed. Downtown Lewiston is showing signs of recovery, but only for local entrepreneurs, not chain retail.