The Future of Phillipsburg Mall in New Jersey {VLOG}
In today’s NJroute22.com VLOG – we opine about what the possibilities are with the future of Phillipsburg Mall in New Jersey.
It’s clear that this shopping mall – and countless others across the country have long passed their peak. No argument there.
The shopping landscape these days is primarily due to the result of the “eCommerce” industry. As well as the overall economy too.
But in this instance – what does the future look like for this massive chunk of Real Estate?
- Can this ever recover as a “brick and mortar” shopping center? It’s certainly not out of the question. New forces emerge all the time in the retail industry. We just cannot figure out what it would be. Not much can truly support the overhead that is required. Even if something tries to revive this dying model – we suspect it wouldn’t last long.
- Yet another logistics center? This is obviously much more likely than a rejuvenated shopping mall. There are literally FOUR new “logistic centers” in the Phillipsburg, NJ area – as we mentioned in a previous video and blog post. These bustling online companies need more space to stage their goods. But would another one in this area be just too much, since the others aren’t even fully occupied yet?
- New housing complex? We feel this is the most logical outcome. With all these new mega-warehouses, and possibly thousands of new jobs – it seems to make the most sense.
All of these theories are dependent of course, on the willingness of the current property owner(s) to want to make a deal. Some parcels sit for a very long time due to stubbornness on part of the owners.
We’ll see! Either way – it’s interesting to see what the future will bring.
