Mall Struggling, New Look Not Enough

Wyoming Valley Mall in Wilkes-Barre, PA is fighting to stay relevant to shoppers by bringing in local retailers, updating the design with an $8 million makeover, and bringing in more restaurants and theaters.

1 minute read

February 27, 2009, 7:00 AM PST

By Tim Halbur


"The operator's biggest gamble at the mall lies ahead. It hopes to raze a mostly-vacant strip center that once housed Kids 'R' Us and S&K Menswear stores. In its place, PREIT would build several sit-down restaurants or a theater, which it hopes will draw as many shoppers as a nationally-known department store.

"If you add together all of the (traffic) volumes of the restaurants, that will be the equivalent of a productive department store," says Ronald Rubin, chief executive of Philadelphia-based PREIT, referring to an approach it has used elsewhere.

Mall operators usually get a small percentage of tenants' sales above a contracted level. Last year, retail sales on a per-square-foot basis in the top 54 U.S. markets declined by their greatest extent since the 1990-91 recession, according to Property & Portfolio Research Inc.

Vacancy rates at U.S. malls climbed to 7.1% in the fourth quarter, the highest rate since real estate research firm Reis Inc. started tracking the figure in 2000. And average rents have started to decline. Wyoming Valley Mall's average base rent was flat last year, after rising 4.4% in 2007."

Thursday, February 26, 2009 in The Wall St. Journal

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Close-up of "Apartment for rent" sign in red text on black background in front of blurred building

Trump Administration Could Effectively End Housing Voucher Program

Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

April 21, 2025 - Housing Wire

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

April 30, 2025 - Diana Ionescu

Close-up on Canadian flag with Canada Parliament building blurred in background.

Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?

As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?

April 28, 2025 - Benjamin Schneider

Washington

Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing

A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.

May 1 - Streetsblog USA

Bluebird sitting on branch of green bush.

Wildlife Rebounds After the Eaton Fire

Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.

May 1 - AP News

1984 Olympics

LA to Replace Inglewood Light Rail Project With Bus Shuttles

LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.

May 1 - Newsweek

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.