Why do 90% of all stores at City Center go out of business in one to three years?

Giles Gilmore | Jan 8, 2018 | Category: Shopping mall in Newport News, Virginia

City Center at Oyster Point - All questions

Address: 701 Town Center Dr, Newport News, VA 23606, USA

Daniel Johnson | Jan 9, 2018

Overhead and it is a new development.

Clinton Copeland | Jan 9, 2020

They're given subsidized rent to attract new businesses to the area. Once that period is over (generally 12-24 months), rent is pretty high and they have a hard time keeping up.

Lisa Lannom | Jan 9, 2020

The Internet. Would you rather leave your house, drive to an area, possibly pay for parking, go to several stores in the hope you'll find what you want, or something close enough, return to your car, then drive home, stopping for gas, OR fire up the internet, hit a search query hit pay and call it done. That's what I thought. THAT is why shopping areas pop up then die. No body wants to leave the couch. That's why all the stores are going bankrupt or out of business. Why deal with real people, face to face, supporting the local community when you can deal with a nice, calm machine for a cheaper price.

Kay Bee | Jan 9, 2019

From what I've seen for renting space, It's most likely overhead as mentioned. You've got to be making money to stay in your space. This area is growing so it can drive prices.

Malon Eason | Jan 9, 2018

Good question, more than likely high overhead with alot taxation... We are a commonwealth,which means wealth is not common,lol

Elwood Gregory | Jan 9, 2018

Yes they do

Jon Barbour | Jan 9, 2018

Most are Art and crafts stores.

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