News Home
Quick Bites
News Archive
News Channel
Special Features
On AirNewsClassical
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Wayside Furniture

Metro RTA

For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )

Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business

Belden Village, Great Northern malls part of a $1.6 billion sale
Analyst says bricks and mortar stores are seeing a bit of a rebound

Web Editor
M.L. Schultze
Retail sales in traditional stores are starting to make a comeback, if they specialize and if they recognize how to use e-commerce.
Courtesy of Creativecommons
Download (WKSU Only)
In The Region:

Great Northern Mall in North Olmstead and Belden Village Mall in Stark County are part of a group of seven malls that are being sold by the world’s largest shopping-center operator. WKSU’s M.L. Schultze has more on who’s in the market for brick-and-mortar malls in these growing days of e-commerce.

LISTEN: The balance of e-commerce and traditional stores

Other options:
Windows Media / MP3 Download (1:04)

Starwood Capital Group is paying Westfield Group $1.6 billion for the seven malls, which also include one in Toledo. 

The malls are primarily in the Midwest, are lower performing and have more limited in options when it comes to redevelopment.

Chris Christopher  is a retail analyst for IHS Global. The firm doesn’t comment on particular companies, but he says traditional retail is seeing a bit of a resurgence, with new retail construction finally coming out of the recession.

“All this being said, Americans spend less time shopping on the weekends and holidays in part because of ecommerce retail sales is approximately 5.8 percent of total retail trade…. But in addition, people’s income is not increasing as much as it used to between 2002 and let’s say 2006.”

Christopher says shopping centers that specialize  in luxury goods – or conversely in discount stores – are doing better than those that offer a traditional mix of stores.

Last year, Westfield sold seven other U.S. malls to Starwood for $1 billion. And it sold a half-interest in six Florida malls in March to another investor for $700 million.

Here's an extended Q&A with Chris Christopher of IHS Global about the challenges of retail:
Signs of recovery for retail, even with e-commerce looming

Other options:
Windows Media / MP3 Download

Add Your Comment


E-mail: (not published, only used to contact you about your comment)


Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook

Stories with Recent Comments

New options in Ohio for secular wedding ceremonies
Hello Mike, I support this action. I was not previously aware of the difficulty couples may encounter in locating officials to serve in their non-religious mar...

Northeast Ohio prepares for the next refugees -- whoever they may be
What a better place to place refugees than in the Midwest cities that have a steady population decline. These refugees will bring much to the culture and the ec...

Charter reform bill includes controversial change for some teachers
I work for a former White Hat charter school; it was sold to another (for-profit) company this past summer and we were told that they would not pay into STRS/PE...

Bhutanese resettlement has had a big economic impact
Informative especially for nonmembers of North Hill. I appreciate the fact that you mention that the younger generation has an easier time than the elders but t...

Ottawa County Commissioner sworn in as new house member
Congratulations on your new appointment to the Ohio House. I'm certain you will do an outstanding job in your new role representing our district. When you have...

Holden Arboretum opens a new canopy walk and emergent tower
Visited the Holden Arboretum today to witness the incredible work you did constructing the tower and bridges.WOW! Very impressed. Knew the build had to be great...

Local club works to bring back the once-prevalent American elm
I would love to help! Where would I get some of the new Strain so I could plant them?

Four Geauga school districts consider consolidating on the Kent State campus
Berkshire was smart to merge with Ledgemont because it had shrinking enrollment and excess capacity at its high school. Now that Cardinal is dragging its feet ...

Ohio Rep. John Boccieri sworn into office and hopes to look for 'middle ground' with colleagues
Welcome back to the Statehouse, John. You are a terrific representative in the truest sense always representing the people's voice in teh district you serve. ...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University