The new owners of Rotterdam Square Mall in Rotterdam, New York are planning $10 million in improvements, including an aquarium.
Via Port USA bought the struggling mall from Kohan Retail Investment Group. The purchase price wasn't disclosed. A deed had not been filed in Schenectady County clerk's office as of this morning.
"We are very enthusiastic about investing in Rotterdam Square Mall and we see tremendous potential in the property," said Cenk Hayirlioglu, who oversees U.S. operations for Via Port USA. "Schenectady County is the place to be and our vision fits seamlessly with the area's growth. Our significant investment will transform the mall into an entertainment destination for the whole family."
Sounds good...........so far! must think that the 'upscale' (tic) casino will bring folks in...eh? wonder if there will finally be some upscale stores moving in.
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
Action talks and BS walks... We heard an investment claim from Kohan group when THEY bought the Mall
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
Action talks and BS walks... We heard an investment claim from Kohan group when THEY bought the Mall
Kohan had reputation of buy/sell and buy/strip. New group (I think Asian) appears legitimate and have mall/entertainment sites globally. Maybe they see something we don't. Guess we can hope it's a positive move, and wait to see. Next thing, however, will be Metroplex getting involved.
JUST BECAUSE SISSY SAYS SO DOESN'T MAKE IT SO...BUT HE THINKS IT DOES!!!!! JUST BECAUSE MC1 SAYS SO DOESN'T MAKE IT SO!!!!!
Kohan had reputation of buy/sell and buy/strip. New group (I think Asian) appears legitimate and have mall/entertainment sites globally. Maybe they see something we don't. Guess we can hope it's a positive move, and wait to see. Next thing, however, will be Metroplex getting involved.
New group is from Turkey. I had heard about this a few weeks ago, although it wasn't publicized yet. They've already lined up 5 new tenants. In addition they'll be having indoor and outdoor concerts and events in the next few months. First one I believe is June 20, and then there's one scheduled in August.
Re: Plex, from what I understand this is private money, so for now it looks like no Plex. I have no feelings one way or the other on it other than I'm glad something is happening. Unlike others on these boards I have no crystal and can't predict the future success or failure of projects.
"I saw the best minds of my generation destroyed by madness, starving hysterical naked, dragging themselves through the negro streets at dawn looking for an angry fix,"
I'll also believe it when I see it, with that said, it's nice that there is at least the chance of something cool happening again, the last owner was a friggin loser.
Do they plan on keeping retail space there? It sounds like it's going to be just entertainment. I'll be happy to see any actual business fill the site, but would really like to not lose it as a shopping destination. I'm not a fan of malls and hate having to go into other counties to do it. Cross gates, and even Colonie Center now, are too large for my taste.
Do they plan on keeping retail space there? It sounds like it's going to be just entertainment. I'll be happy to see any actual business fill the site, but would really like to not lose it as a shopping destination. I'm not a fan of malls and hate having to go into other counties to do it. Cross gates, and even Colonie Center now, are too large for my taste.
There's a lengthy article in the Gazette this morning that goes into a little more detail. From what I'm reading, the main focus as to create a family orientated environment that will make the mall a destination. It makes sense that as people are drawn to the mall more retailers will be interested in setting up shop there. The Sears wing of the Mall, which at this point is empty is where they plan on setting up the aquarium, bowling alley, arcades, restaurant etc. They're going to put $10 million of their money, not Plex, into the project. Once again if you put something there that's going to attract folks, then retailers will come. I posted earlier on the topic that I've heard there are already at least 5 new retailers coming.
As an aside, I've been checking the various social media and other places where folks have been commenting on it, and there seems to be an overwhelming amount of optimism. Time will tell. I can tell you one thing walking in that Mall right now and over the winter is/was totally depressing. HTH
"I saw the best minds of my generation destroyed by madness, starving hysterical naked, dragging themselves through the negro streets at dawn looking for an angry fix,"
Rotterdam Mall to get aquarium as part of $10M investment By Michaela Kilgallen June 11, 2015 | Updated 1:22 a.m.
ROTTERDAM — On her way to Kmart, Summer Hill pushed a shopping cart loaded with four small children through Rotterdam Square mall.
The Pattersonville woman had errands to run Wednesday, but she liked the idea of being able to one day bring her kids, ages 1, 2, 3 and 5, no farther than the West Campbell Road Mall to see sharks — yes, sharks — and other tropical sea life.
“It’d be something neat,” she said when told of a Turkish developer’s plans for the mall, which include an aquarium and a family entertainment zone complete with a bowling alley, sports bar and restaurant, and 50-plus arcade games. “I think that would definitely bring more people in.” Photo Gallery Renovation plans for Rotterdam Square This composite image, provided by Via Port USA, shows a rendering of the aquarium they plan to install at Rotterdam Square Mall. Enlarge photos | View thumbnails
Via Properties on Wednesday announced plans to invest $10 million in the struggling mall, which has lost some major tenants over the past 17 months under the ownership of Mike Kohan, including T.J. Maxx and Macy’s.
Via Properties, which owns malls, marinas, hotels and amusement parks in Turkey, bought its first mall in the U.S., in Leesburg, Florida, in September. It recently purchased the Rotterdam mall from Kohan, whose Long Island-based Kohan Retail Investment Group had purchased the mall from Macerich Co. for $8.5 million in January 2014.
Cenk Hayirlioglu, who oversees Via Properties’ U.S. operations — called ViaPort USA — would not disclose the sale price, saying it was confidential. But he said the 25,000-square-foot Rotterdam Aquarium will be built in the space vacated by T.J. Maxx, in the mall’s Sears wing. The 30,000-square-foot fun zone will fill five smaller vacancies across the hall, he said. Both will be run by ViaPort USA.
The two new attractions will bring the mall’s occupancy, now between 65 and 70 percent, to 90 percent, he said. The 65-acre mall has 600,000 square feet of leasable space.
“This mall was dying before, and this gives us opportunity to add something in,” he said. “We are not looking for a 90 percent occupied mall; we are looking for some rooms to invest our entertainment facilities.”
The aquarium will feature aquatic life such as sharks and deep-sea fish from the Pacific and Atlantic oceans and other exotic places, the company said in a news release. It will host school groups and children’s birthday parties, and have educational aspects meant to appeal to all ages. The fun zone’s positioning across from the aquarium will create “an entire wing dedicated to family fun,” the release said.
Tony Buonome of Schenectady said he’d bring his 10-year-old granddaughter to an aquarium in the mall as he walked it for exercise Wednesday afternoon.
But the lifelong Capital Region resident remained skeptical.
“When I see it and it’s done, then I’ll believe it, because I’ve heard throughout my life so many things going on, then in the long run, nothing’s happened,” said Buonome, 76.
Hayirlioglu said the mall industry is “transforming” and malls need to offer customers something they cannot buy online.
“And we realize this area has potential, but there is nothing to do, just a couple of malls and nowhere else to go,” he said. “So our goal is to make this mall a destination point.”
Ray Gillen, chairman of the Schenectady Metroplex Development Authority, said the planned attractions should complement a casino and harbor project planned for a former industrial site along the Mohawk River in Schenectady.
“You build the foot traffic with the entertainment center and the aquarium, and then the retail follows, and it’s a great play off the casino project and the Mohawk Harbor project downtown,” Gillen said.
He added, “This is going to be a regional draw, especially the aquarium.”
Via Properties already has built two aquariums at malls in Turkey, and components of the Rotterdam Aquarium are already being built there, Gillen said, adding that construction will begin “very shortly.”
“They’ve done it before in Orlando, they’ve done it in Turkey,” he said. “They have the resources and they’re moving forward, so I think it’s a very exciting day for Rotterdam.”
In May, Via Properties announced plans for an entertainment center at its Florida Mall, formerly Lake Square Mall and now called Via Port. Since buying that mall in September, also from Kohan, the company has added new lighting, floors and paint, remodeled the bathrooms, repainted the inside and out, installed a center court fountain, improved the outdoor landscaping and installed a 60-foot-tall digital screen to greet shoppers.
Hayirlioglu said the Rotterdam mall will need less work.
“We had more difficulty in Florida … but this mall is in good shape — in better shape,” he said.
Asked if Rotterdam Square mall would be getting a new name, he smiled and said, “We’ll see.”
Hayirlioglu also said the company has ideas for the 120,000-square-foot space previously occupied by Macy’s, which vacated this past spring. But for now the company’s focusing on the two attractions, he said.
“We are dreaming grocery stores over there,” he said.
"I saw the best minds of my generation destroyed by madness, starving hysterical naked, dragging themselves through the negro streets at dawn looking for an angry fix,"
I can tell you one thing walking in that Mall right now and over the winter is/was totally depressing. HTH
i got the same feeling when Mohawk Mall was in a tailspin. I know that Mall was never a Marquee destination, but it was a station of my youth. The only thing worse than walking through an empty, leaking, Mohawk Mall, was using that temporary tunnel to get to Marshall's.
Let's hope they succeed, because anything is an improvement at this point
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
i got the same feeling when Mohawk Mall was in a tailspin. I know that Mall was never a Marquee destination, but it was a station of my youth. The only thing worse than walking through an empty, leaking, Mohawk Mall, was using that temporary tunnel to get to Marshall's.
Let's hope they succeed, because anything is an improvement at this point
I hear ya tbird. My Mom worked at Ward's right until the end, and being in that Mall was just such a bummer at that time. I've got some photos somewhere of the empty Mall that Mom and my sister took, if I can dig them up I'll post them for "old times sake"...LOL
And yeah, I really do hope that this work's out. Now if we could just get rid of that abomination at the corner of Guilderland Ave. and Curry Rd.
"I saw the best minds of my generation destroyed by madness, starving hysterical naked, dragging themselves through the negro streets at dawn looking for an angry fix,"
Ray Gillen, chairman of the Schenectady Metroplex Development Authority, said the planned attractions should complement a casino and harbor project planned for a former industrial site along the Mohawk River in Schenectady.
“You build the foot traffic with the entertainment center and the aquarium, and then the retail follows, and it’s a great play off the casino project and the Mohawk Harbor project downtown,” Gillen said.
REALLY??????? I have my reservations on this one.....it'll be a wait and see!
When the INSANE are running the ASYLUM In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche
“How fortunate for those in power that people never think.” Adolph Hitler
I hear ya tbird. My Mom worked at Ward's right until the end, and being in that Mall was just such a bummer at that time. I've got some photos somewhere of the empty Mall that Mom and my sister took, if I can dig them up I'll post them for "old times sake"...LOL
And yeah, I really do hope that this work's out. Now if we could just get rid of that abomination at the corner of Guilderland Ave. and Curry Rd.
Kind of neat... One inaccuracy in the blog is that Bradlees was NOT the original anchor store on the Mcdonalds/price chopper end.(Pantry Pride was the original store in the price chopper spot) it was actually JM Fields, which moved from its former location on Eastern Parkway (where price chopper is now) When JM fields went belly up, it then became a Bradlees.
"Arguing with liberals is like playing chess with a pigeon; no matter how good I am at chess, the pigeon is just going to knock out the pieces, crap on the board, and strut around like it is victorious." - Author Unknown
I remember buying a little vile containing dust/rubble from the demolished Berlin wall at that Bradlees. It was right after they took it down, and whether or not the dust was real is unknown. To a 10 year old me... it was.
I'm hoping the mall in Rotterdam makes a big comeback. I just bought a house on that side of town... hopefully we get a supermarket like one article suggested!
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