Cabela's executive says Xanadu opening 'hightly unlikely'

[rscalzo 3]

They are still there but they never were "outlets" but simply retail outlets. they moved in to take advantage of the traffic from the true "outlets" of years back like Makasi, Calvin Klein, and others. In fact the town has a rarely if ever enforced ordinance that states to use the name "outlet" in the stores name it must have a certain percentage of warehouse space on site and some other requirements.

 

Years back Calvin Klein was a great place. I worked security there and as a employee I was able to get Calvin Klein and other suits for $70 to $80 when they were $400 in the retail stores. There was an incredible markup. I know they had employees but the items and bring them to retail stores like Bamberger's or Macy's which took anything in return they sold without question.

 

GIII leather was a great outlet and although they still have a store in town, their offices and warehouse is gone. When I would get stopped on the street people would ask me about the outlets and unless they had an address, I didn't know that many as I never shopped at them. I'd rather hit the malls and relax and only park the car once.

[Blackfox 1]

I had an accident on American Drive on a snowing day, I complained to the officer that the road was not plowed his response was, Hart mountain is responsible for the streets in this area. I thought it was the town responsibility.

[djg0770 481]

Saw a guy working on a manlift outdoors yesterday on the Lego Block Xanadu portion...

[Blackfox 1]

Saw a guy working on a manlift outdoors yesterday on the Xanadu portion...

 

Xanadu is located in E. Rutherford next to the federal reserve, that small shopping center, I used to live in town and remember talking about Xanadu.

[Maksim 1,504]

Saw a guy working on a manlift outdoors yesterday on the Xanadu portion...

 

Xanadu is located in E. Rutherford next to the federal reserve, that small shopping center, I used to live in town and remember talking about Xanadu.

 

 

LOL. federal reserve. aka new Giants Stadium.

[imperialfish 11]

Xanadu may get different name if $500M funding deal is set, report says

 

http://www.nj.com/news/index.ssf/2010/0 ... _name.html

[rscalzo 3]

Construction hasn't totally stopped. Some small contractors are still working but the major players pulled out months ago.

 

One of the problems with this project is that it can not be a normal retail mall. That would be a violation it the state legislation that allowed the project on state land with some state funding. It would also open the state up to another lawsuit from Hartz Mountain but that's another story.

 

While the state has too much tied up in the project at this point, I don't see it ever being a success or even being finished as originally proposed. It's a big area to fill with few retail prospects willing to take the chance.

[Circlesqr 1]

The paint job didn't help.

 

Aw c'mon.... sometime the paint job makes all the difference.

 

http://twistedsifter.com/2010/02/razzle-dazzle-camouflage/

 

--Daniel

[Guest]

The paint job didn't help.

 

Aw c'mon.... sometime the paint job makes all the difference.

 

http://twistedsifter.com/2010/02/razzle-dazzle-camouflage/

 

--Daniel

 

 

thats some cool cammo. I wonder if they could make that for hunting...

[rscalzo 3]

I was talking to my cousin who I hadn't seen in some time. his company held several major contracts at the site. They are just about finished with waiting for payments but they won't be bidding on any future ones. Much of the road work was paid for by the state and the NJ Turnpike.

 

If the half billion dollar loan is not secured to complete the work, the project will probably die. Either way he didn't see it as a success. As the requirements do not allow a simple mall, developers don't want to commit. With Cabela pulling out, there is little leased at this point.

[djg0770 481]

http://www.nj.com/news/index.ssf/2010/0 ... ommit.html

[rscalzo 3]

At this point the completion of the entire complex is in doubt. the new funding is based on what the developer wants to do with the structure. He is a specialist in buying distressed properties and trying to bring them back. Unlike a standard shopping center, Xanadu comes with many restrictions on what it can be as it is state property. The loans are far from a done deal.

 

I found something else out that I didn't find surprising. As my relatives boss is one the Board of the Sports and Exposition Authority, what they won't admit to be see developing is the fact that the new football stadium is is deep sh*t. Ticket sales are dismal as the season ticket holders are leaving in droves. The depended on the PSL to cover costs and that money isn't coming in. It is going the way of the Dallas and Yankee stadiums where the funds are just not there to cover the costs.

 

In fact, the state has no idea what to do with this area. The racetrack is dead and the Byrne Arena is about to close for lack of business. With little leased and the last major anchor store all but gone, it might remain a ghost structure for years.

[matt6669 71]

This is what happens when you rebuild stuff you had no reason to rebuild. There was no reason to knock down the old stadium and build a new one. Maybe the Giants and the Jets will learn their lesson!!

[Malsua 1,422]

This is what happens when you rebuild stuff you had no reason to rebuild. There was no reason to knock down the old stadium and build a new one. Maybe the Giants and the Jets will learn their lesson!!

 

You funny.

 

If you think either of those organizations will lose a penny over this, I've got some ocean view land to sell you in Sussex county.

[lunker 274]

This is what happens when you rebuild stuff you had no reason to rebuild. There was no reason to knock down the old stadium and build a new one. Maybe the Giants and the Jets will learn their lesson!!

 

You funny.

 

If you think either of those organizations will lose a penny over this, I've got some ocean view land to sell you in Sussex county.

 

I truly hope that they are not insulated from their bad decisions. How many bailouts of billionaires are we supposed to foot the bill for?

[Malsua 1,422]

Socialize the costs, privatize the profits. It's the Goldman Sachs way, all the super elite do it.

[rscalzo 3]

I seem to remember that Willowbrook was among the malls owned by a developer in financial difficulty. That could scare away new tenants.

 

Who wants to commit a large chunk of their resources to a mall that might go under. Some of the smaller ones in the Paramus area are starting to look like they are falling into disrepair. I'm sure that's why Cabelas flew the coop. They are being very selective where they open up new locations. As Xanadu looks like a failure, they waited until contractually they could bolt.

 

In a year or two the Route 3 Westbound bridge is being totally renovated right down to the decking. No project plans have been released but it will either be severe lane restrictions or turning the eastbound bridge back into a two way structure. Traffic will be a nightmare in the area. Just what a mall would need.

[Caine 147]

In a year or two the Route 3 Westbound bridge is being totally renovated right down to the decking. No project plans have been released but it will either be severe lane restrictions or turning the eastbound bridge back into a two way structure. Traffic will be a nightmare in the area. Just what a mall would need.

It's pretty bad now... Eastbound is pretty bad these days during the morning rush till about the route 21 exit. Westbound is slow, but usually isn't too bad. Something like this tho would make it a complete nightmare.

[georgemc 18]

Not sure what is going on at Xanadu's, but last night was the first time I've seen the mall lights on.

[rscalzo 3]

Nothing is going on. The half billion dollars loan isn't approved or a backer found. Small contractors are doing some minor work to keep what's already in place secure. Beyond that the project is stopped dead.