lamiaposta wrote:...but the closing of t shirt shops in itself speaks to the serious problem St Louis Union Station is having staying afloat.
Again, you are assuming that they are trying to stay afloat.
lamiaposta wrote:Currently IMO they are not making an intelligent effort to right the ship. When a merchant decides to move out, they virtually make no effort to work it out, ie, rent negotiation is out of the question as are other adjustments. It is either Union Stations way or the highway. The management at Union Station has totally failed to make adjustments in their unsuccessful business performa to meet the times. Don't you think some merchants would have stayed if they could have worked out a profitable future.
All of those things cost money, and they obviously aren't interested in committing one more dime of capital into retaining the enclosed mall retail tenants. In that respect, it is identical to the demise of St. Louis Centre. Unlike St. Louis Centre however, there is no discernable financial incentive for Union Station's owner to let the mall empty out, so I can only surmise that they have plans that don't include those tenants.
They seem to be actively encouraging the retail tenants in the enclosed portion of the mall to leave, and they are going about it in such a way that it is the tenant's decision to break their lease, so the owner doesn't have to go through the eviction process, buy out leases, or absorb the legal expense of a bunch of breach of contract suits.
Perhaps the owner has redevelopment plans for the enclosed retail area, or perhaps they simply feel that Union Station will be easier to sell as a more or less clean slate. I find it extremely difficult to believe however, that the owner and Jones Lang Lasalle are trying to turn US into a profitable enterprise, and they are simply this inept.