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OT: JC Penney Oh Oh Bankruptcy filed

I imagine apartments is what you will see . I still don’t see the allure or apartment living . I like having a backyard ...especially during times like this . It’s pretty nice sitting outside grilling, having a beer etc . It’s almost a luxury nowadays .
I do wonder how the apartment market will be after this. The whole push for a generation had been city living , mass transit , walkable communities and gathering spaces . Will Covid may blow all that away? I want my car and own space ?
All these New Jersey towns have this transit village concept if they are near a train station. That might be a bubble that burst.
Basically a generation of urban planning may be wiped away
They should tear down what is unneeded, restore the land, and keep it open space. This goes for all towns with vacant office and retail development.
 
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JC Penny - for those who can't find a Sears to go to.....


a lot of things will be different once this is over --- huge shake-out in retail is just one..........

Bezos is one of the huge winners........
 
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Neighbor sells cars in Brooklyn and people are buying cars because they don't want to use mass transit.
He’s going to be able to buy them back at a steep discount after people sit in traffic and pay $40 for parking.
 
When I was in Jersey and needed something I went to Boscovs. Cheap and the clothes I bought all made it through enough washes to make the 10 or 15 bucks I spent worth it.Their house brand is Architect. And before I lost weight they had a pretty good obese section.
 
Who should tear it down ?
Good question. The cleanest way to do this is for the township to purchase the land at FMV, which would factor in the condition of the land and potentially some clean up costs. However, in reality, it would likely be a partnership with the landowner. If the owner wants approval to change the use of a portion of land, the deal could be that they need to demo/clean-up the other portion that is targeted for restoration. This would help bring the cost down for the township. In most cases, the township would have to pay something.

It would be well worth the money! Many towns are over-zoned for commercial purposes in pursuit of "clean ratables". Too much commercial development equals vacant eye sores and blight.
 
i never understood how that mall survived all these years
There is heavy traffic on Route 18 because its a highway that workers travel heading toward the New Brunswick/Piscataway area. The East Brunswick Mall has movie theaters that attract patrons from surrounding towns along with a Barnes and Noble book store and several restaurants.I think the future of malls is bleak because of rental costs and online shopping .Amazon has changed the whole culture of retail shopping.
 
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There is heavy traffic on Route 18 because its a highway that workers travel heading toward the New Brunswick/Piscataway area. The East Brunswick Mall has movie theaters that attract patrons from surrounding towns along with a Barnes and Noble book store and several restaurants.I think the future of malls is bleak because of rental costs and online shopping .Amazon has changed the whole culture of retail shopping.
Route 18 in EB is a disaster and a case study of what not to do with zoning laws. I was born and raised in EB and know it well. Route 18 has always had massive sections of vacancies and blight. Why? Because there is too damn much retail/commercial development. This issue existed way before Amazon, but now is even bigger. Whenever a new strip mall is built or an old one is redeveloped, it causes 1 or 2 others to go under. There is a big redevelopment plan going on for Loehmann's Plaza and the old Wiz strip mall, which is asinine. The best thing to do with this land is plow it under, plant grass, and rent it to a farmer. This would look great and also make the remaining Route 18 stores more likely to survive.

It's a zero sum game. A certain population can only support so much retail.
 
Bezos is one of the huge winners........

I feel futuristic living is the big winner in this. Online shopping, online schools, online gyms.

I'm a couple beers deep, I can't come up with anything futuristic besides online stuff.
 
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I went to a JC Penney recently. Clothes are all over the place. It is unkempt and a disaster. My 7 year keeps the room cleaner. Having said that Gap and Old Navy are next.
 
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Good question. The cleanest way to do this is for the township to purchase the land at FMV, which would factor in the condition of the land and potentially some clean up costs. However, in reality, it would likely be a partnership with the landowner. If the owner wants approval to change the use of a portion of land, the deal could be that they need to demo/clean-up the other portion that is targeted for restoration. This would help bring the cost down for the township. In most cases, the township would have to pay something.

It would be well worth the money! Many towns are over-zoned for commercial purposes in pursuit of "clean ratables". Too much commercial development equals vacant eye sores and blight.

I like the theory. But most towns looking to get ratables
 
I feel futuristic living is the big winner in this. Online shopping, online schools, online gyms.

I'm a couple beers deep, I can't come up with anything futuristic besides online stuff.

sounds amazing..

64c352f5663a6758be496be5ac8aecdd.jpg
 
sounds amazing..

64c352f5663a6758be496be5ac8aecdd.jpg
The converse to my above post is I have seen a ton of people riding around on their bikes, and as an absolute first, I saw a couple paragliders flying around today. Also heard of a hot air balloon sighting in the neighborhood.
 
I like the theory. But most towns looking to get ratables
You are correct. It takes vision and proactive leadership for a town to do this.

Overall, it's a BS pursuit. Remember, commercial ratables only pay well over the long term IF it is occupied. Taxes and fees are much lower for vacant property.
 
So did I. Have no clue where there is one.
Oxford Valley Mall in Langehorne. You probably drive past it every day to get to Philly if you take 95. Not that you can see it from the highway, but it's the same exit as Sesame Place.

The Walmart’s and Targets will do better.

Isn’t Macy’s on financial life support as well?
Penney's, J Crew and Neiman Marcus all files already, with Macy's, Nordstrom and Gap on deck.

Did they really disburse 10 million to upper management prior to filing?
Happens every time. They create "pension plans" for the executives and shove millions in there where it can't be touched.
 
Route 18 in EB is a disaster and a case study of what not to do with zoning laws. I was born and raised in EB and know it well. Route 18 has always had massive sections of vacancies and blight. Why? Because there is too damn much retail/commercial development. This issue existed way before Amazon, but now is even bigger. Whenever a new strip mall is built or an old one is redeveloped, it causes 1 or 2 others to go under. There is a big redevelopment plan going on for Loehmann's Plaza and the old Wiz strip mall, which is asinine. The best thing to do with this land is plow it under, plant grass, and rent it to a farmer. This would look great and also make the remaining Route 18 stores more likely to survive.

It's a zero sum game. A certain population can only support so much retail.
And bring back the drive-in movies.
 
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I went to a JC Penney recently. Clothes are all over the place. It is unkempt and a disaster. My 7 year keeps the room cleaner. Having said that Gap and Old Navy are next.

I went to the GAP every week back in the 90s. Great stuff that I still own and wear. After they bought Old Navy (and made more stuff on foreign machines) they went down the tubes. Sizes were all over the place, and buttons would pop-off after a month - real junk. A Gap "L" was perfect for me and then it became like a shirt for a 12 yr old.
 
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The Blockbuster reference reminds me of a short video from the Onion that I used to show in my presentations ten years ago. At the time the video was made, there were many Blockbuster stores in existence:



Scarlet Jerry
 
You are correct. It takes vision and proactive leadership for a town to do this.

Overall, it's a BS pursuit. Remember, commercial ratables only pay well over the long term IF it is occupied. Taxes and fees are much lower for vacant property.

True.
 
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I went to the GAP every week back in the 90s. Great stuff that I still own and wear. After they bought Old Navy (and made more stuff on foreign machines) they went down the tubes. Sizes were all over the place, and buttons would pop-off after a month - real junk. A Gap "L" was perfect for me and then it became like a shirt for a 12 yr old.
I was still shopping Old Navy quite a bit prior to this. I thought there stuff was pretty good. I have an old t-shirt that ranks among my favorite, and their jeans hold up. Plus the boxers.
 
I see the current CEO of Lowe’s is the former CEO of J.C. Penney . I guess the business can crumble but if you make the stockholders more $$ than you will be considered a good CEO. Does this mean Lowe’s will crumble with this guy at the helm too?
 
Nothing beats they're 2$ flip flop sale each summer though haha.

Wedding tip for anyone getting married:
load up on the $2 flip flops in various sizes for guests during the reception. Put in a bin next to the dance floor.

Woman will very much appreciate not having to spend half the night barefoot.

Plus your wedding photos wont have half the guests barefoot.
 
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I get tank tops for sleep at Old Navy. Also, onsies for babies are okay. I buy baby clothes there because I refuse to spend a lot when the little boogers grow out of them so fast. Otherwise some of their clothes are kinda cheap..dresses for women are see through etc. Nothing beats their 2$ flip flop sale each summer though haha. Also, I like the fact they sell candy like Swedish Fish so I can munch while on line..:Sly: Banana Republic is the best out of the 3 and I like some of their things although not really my style. Plus I refuse to spend 108$ on pants for work when I'm getting food thrown at me or on the floor most of the day. (Hmm..that sounds odd) LOL
I actually bought a pair of shoe's for $2 there. I've gotten complements.
 
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I am not exactly Mr high tech, but I wish supermarkets would have some little screens throughout the store where you could type in what item you wanted and it would show the aisle. Always drives me crazy trying to find pork and beans which never seem to be in the same zip code as canned veggies.
 
I am not exactly Mr high tech, but I wish supermarkets would have some little screens throughout the store where you could type in what item you wanted and it would show the aisle. Always drives me crazy trying to find pork and beans which never seem to be in the same zip code as canned veggies.
Would you expect to find Chef Boyardee in the canned vegetable aisle? Pork and beans is not a vegetable, it's a prepared food, so just like Chef Boyardee, would be in the prep aisle.
 
I imagine apartments is what you will see . I still don’t see the allure or apartment living . I like having a backyard ...especially during times like this . It’s pretty nice sitting outside grilling, having a beer etc . It’s almost a luxury nowadays .
I do wonder how the apartment market will be after this. The whole push for a generation had been city living , mass transit , walkable communities and gathering spaces . Will Covid may blow all that away? I want my car and own space ?
All these New Jersey towns have this transit village concept if they are near a train station. That might be a bubble that burst.
Basically a generation of urban planning may be wiped away

I think those trends are rooted more deeply, but it will be interesting to see if these events derail that.
 
Would you expect to find Chef Boyardee in the canned vegetable aisle? Pork and beans is not a vegetable, it's a prepared food, so just like Chef Boyardee, would be in the prep aisle.
Just using that as an example. And why isnt candy corn next to the canned corn ?
 
Just using that as an example. And why isnt candy corn next to the canned corn ?
Maybe they could make a special supermarket where all the items would be shelved in alphabetical order. Then you could go down the C aisle and get your canned corn just past the Chef Boyardee and the candy corn would be right next to it. Then swing over to aisle P for pork and beans and some prosciutto!
 
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