{"id":93980,"date":"2009-12-22T09:08:00","date_gmt":"2009-12-22T14:08:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/the-death-of-the-american-mall-2009-12"},"modified":"2009-12-22T09:08:00","modified_gmt":"2009-12-22T14:08:00","slug":"welcome-to-the-most-depressing-commercial-real-estate-disaster-in-america","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/93980","title":{"rendered":"Welcome To The Most Depressing Commercial Real Estate Disaster In America"},"content":{"rendered":"<p><a href=\"http:\/\/www.businessinsider.com\/the-death-of-the-american-mall-2009-12\/approaching-the-mall-1\"><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/~~\/f?id=4b2fef730000000000072429&amp;maxX=356&amp;maxY=267\" border=\"0\" alt=\"voorhees300400\" width=\"356\" height=\"267\" \/><\/a><\/p>\n<div style=\"float: left; padding: 15px 15px 15px 0;\">\n<script src=\"http:\/\/d.yimg.com\/ds\/badge2.js\" type=\"text\/javascript\">\/\/ <![CDATA[\nhttp:\/\/www.businessinsider.com\/the-death-of-the-american-mall-2009-12\n\/\/ ]]><\/script>\n<\/div>\n<p>Back in 1992, I remember going to the Echelon Mall in Voorhees, New Jersey.<\/p>\n<p>It was a five minute drive from my home in Cherry Hill and I always looked forward to it.<\/p>\n<p><a href=\"http:\/\/www.google.com\/url?sa=t&amp;source=web&amp;ct=res&amp;cd=3&amp;ved=0CA8QFjAC&amp;url=http%3A%2F%2Fwww.businessinsider.com%2Fbill-ackman-surprise-im-super-bullish-on-malls-and-the-consumer-2009-12&amp;ei=Ye4vS_3cLZKplAfc6PyVBw&amp;usg=AFQjCNEgO0jlJaEZLaiy-De4gOKgfuw0pA&amp;sig2=Cz_S9-xtPWNgqH9AMyS61Q\">The mall<\/a> had every imaginable store you could think of, several fountains, rides and games for kids, a movie theater, and even a gigantic arena-sized arcade called Exhilarama.<\/p>\n<p style=\"padding-left: 30px;\"><a href=\"http:\/\/www.businessinsider.com\/the-death-of-the-american-mall-2009-12\/approaching-the-mall-1\"><strong>Check out the dead mall &gt;<\/strong><\/a><\/p>\n<p>Those were the 1990s. Those were the days.<\/p>\n<p>Today, the Echelon Mall is now called the Voorhees Town Center and even a name change can&#8217;t aid a dying beast.<\/p>\n<p>Someone, somewhere thought it&#8217;d be a good idea to bulldoze half the mall, put up condos and housing, and give the mall a more &#8220;exclusive&#8221; feel. The problem is: who wants to live at a mall?<\/p>\n<p>Only two &#8220;anchor stores&#8221; remain at the mall, the food court is half vacant, and there are literally no stores of quality in the mall aside from a <a href=\"http:\/\/www.google.com\/url?sa=t&amp;source=web&amp;ct=res&amp;cd=2&amp;ved=0CAwQFjAB&amp;url=http%3A%2F%2Fwww.businessinsider.com%2Fgamestop-ceo-amazon-has-zero-chance-of-success-in-used-game-biz-2009-3&amp;ei=l-4vS7_NEYLZlAeSjKGqBw&amp;usg=AFQjCNEak8lf12rV5Jo1mXjNaAa0EMz8VQ&amp;sig2=IH0K17U7-za32BT2QFMQyQ\">GameStop<\/a>, Victoria&#8217;s Secret, and <a href=\"http:\/\/www.google.com\/url?sa=t&amp;source=web&amp;ct=res&amp;cd=1&amp;ved=0CAsQFjAA&amp;url=http%3A%2F%2Fwww.businessinsider.com%2F70-chance-of-an-iphone-at-verizon-next-year-2009-12&amp;ei=q-4vS4OBCtXglAfHuP2RBw&amp;usg=AFQjCNH6-Xrwmfdrgt_DcE5wS7T9Xp2ILg&amp;sig2=5F7vrnZdIpB5u9V2ZkMGfA\">Verizon Wireless<\/a>.<\/p>\n<p>What began as a revitalization project for a dying mall was cut short by a lack of credit and funding for constructing the project. Tons of big box stores and condos were supposed to go up around the newly re-designed mall but alas, nothing has come to fruition.<\/p>\n<p>Scanning the terrain, you&#8217;ll quickly realize why commercial real estate is such an epic disaster.<\/p>\n<h2><strong><a href=\"http:\/\/www.businessinsider.com\/the-death-of-the-american-mall-2009-12\/approaching-the-mall-1\">Click here to tour a dead mall -&gt;<\/a><\/strong><\/h2>\n<p><a href=\"http:\/\/www.businessinsider.com\/the-death-of-the-american-mall-2009-12#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><b>See Also:<\/b><\/p>\n<ul>\n<li><a href=\"http:\/\/www.businessinsider.com\/apples-latest-genius-retail-move-express-shopping-pre-wrapped-holiday-gifts-2009-12\">Apple&#8217;s Latest Genius Retail Move: &#8216;Express Shopping&#8217; Pre-Wrapped Holiday Gifts<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/why-ethnic-specific-shopping-malls-are-doing-fine-2009-9\">Why Ethnic-Specific Shopping Malls Are Doing Fine<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/malls-rip-2009-5\">Malls: R.I.P.<\/a><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/GprFR5CZDuE\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Back in 1992, I remember going to the Echelon Mall in Voorhees, New Jersey. It was a five minute drive from my home in Cherry Hill and I always looked forward to it. The mall had every imaginable store you could think of, several fountains, rides and games for kids, a movie theater, and even [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-93980","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/93980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=93980"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/93980\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=93980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=93980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=93980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}