article thumbnail

Megamalls Like Mall Of America And American Dream Face Mega Problems 

PYMNTS

malls — Minnesota’s Mall of America and New Jersey’s American Dream mall — are struggling, with the company that owns both recently skipping a third straight payment on the Minnesota property. The two largest U.S. Located in Bloomington, Minn., billion mortgage in 2014. Paul Business Journal quoted. American Dream has its own problems.

America 251
article thumbnail

Mall of America Skips Mortgage Payments Before June Reopening

PYMNTS

As an indication of how much retail real estate owners are struggling amid the pandemic, The Mall of America has reportedly skipped two payments on its mortgage of $1.4 Trepp Senior Managing Director Manus Clancy told the outlet, “Next to hotel owners, retailers have been the hardest hit by the COVID-19 crisis.

America 150
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Target Brings Local Crate Meal Kits To More Stores

PYMNTS

Following a test of Local Crate in select stores, Target is bringing the company’s meal kits to over 200 stores in California and Minnesota. The retailer had also tested meal kits from Hello Fresh , Tyson Tastemakers , Chef’s Menu and Chef’d in select stores, the Star Tribune reported.

Minnesota 108
article thumbnail

Telltale Signs: Warehouse Leasing Vs Retail Leasing

PYMNTS

It’s a good time in America to have a retail space ready to rent out — eCommerce merchants are on the hunt and signing large contracts. The supply chain arms race is as competitive as it’s ever been,” said Adam Mullen, CBRE’s senior managing director of industrial and logisitics, Americas leader. “The

Retail 122
article thumbnail

Grocery Roundup: New Amazon Fresh Store, SpartanNash Puts Incentives In ‘Fast Lane,' Walmart On Autonomous Delivery

PYMNTS

The news comes as the first Amazon Fresh opened , with the eCommerce retailer providing access to the general public to the Los Angeles store in September. As it stands, 69 SpartanNash stores in Wisconsin, South Dakota, North Dakota, Nebraska, Minnesota and Michigan provide the Fast Lane offering.

article thumbnail

Grocery Stores Shutter In-Store Pharmacies

PYMNTS

The move, happening in states as varied as Washington, Minnesota and everywhere in between, comes as customers have been making fewer trips to visit pharmacy counters while doing grocery shopping. The Wall Street Journal quotes Phillip Breker, who managed a pharmacy at Minneapolis-based grocery chain Lunds & Byerly, now closed down.

article thumbnail

SMBs Rake In Sales As Prime Day Wraps

PYMNTS

Small and medium-sized businesses raked in sales during Amazon’s Prime Day extravaganza, as the now-annual shopping event spawned imitators with hundreds of rival retailers offering competing promotional events. on Tuesday, however, the site said it had counted more than a whopping 300 retailers running offers related to Prime Day.

Retail 108