Here’s something just about everyone paying attention to the news already knows for Bridgeport and hundreds of other cities nationwide. Toys “R” Us is going out of business.

 

Here’s something I didn’t know until Tuesday. And you might not know as well.

 

The Toys “R” Us right at the foot of Meadowbrook Mall is not a Meadowbrook Mall property. I thought it was. A whole lot of other people did too. In fact, so much so – and Joe please forgive me –I had to double check after receiving my initial information because everyone was telling me wrong.

 

The “Joe” in question is Joe Bell, the director of Corporate Communications for the Ohio-based Cafaro Company I talked to Tuesday. They are the owners of the company that owns the mall and Bell is about as well versed in retail, consumer trends and leasing of commercial real estate as I am on buffets.

 

When I brought up the subject of what Cafaro was going to do with the Toys “R” Us space when it was empty, his response caught me off guard.

 

“We don’t actually own that,” he said.

 

I was stunned. I figured I might be the only one that didn’t know that. So I checked with others. The answer was the same – the mall owns it. Until they checked. They didn’t own it. And then I triple checked with Mall Property Manager Marcello Lalama. He did know – Lalama assured me the mall doesn’t own the building or property.

 

While my lapse of information may seem insignificant, it is part of the formation for the blog you’re about to read. The call to Bell was to get his thoughts on the impact of many national brands – plenty with locations here at the Meadowbrook Mall – filing for bankruptcy or rumors of bankruptcy in the air.

 

We’ll get to that. First, something maybe folks in Bridgeport should consider doing again that many have done before. And I’ll get to that too.

 

When I told Bell that I had no idea about the Toys “R” Us location not being a mall property, he told me this.

 

“That’s something we may look into acquiring. Right now it’s basically idle chatter, but our real estate people know it’s going to be available and we know it would be a beneficial location,” said Bell. “There’s nothing formal other than people suggested that as far as likely acquisitions that would make sense.

 

“What would go there is unknown, but it’s a good location right at the foot of the hill leading to the mall,” he continued. “That is, without a doubt, a prime retail location.”

 

Maybe, just maybe, it would be a good location for a grocery store. Granted, it’s not going to be something the size of Kroger at Eastpointe or a Giant Eagle that you see in Washington, Pa., but perhaps something like a Trader Joe’s, an Aldi, a Lidl, and Whole Foods Market 365 (a smaller version). Not sure about those, Google them.

 

When you go to their Web sites, you’ll see some that ask those visiting where they’d like to see their next store go. We did that before in this very blog and (since you don’t see any grocery stores on that side of Bridgeport) it apparently didn’t work. But, I know that hundreds left comments saying they provided input on those Web sites.

 

Understand, the Toys “R” Us location is exactly what Bell says it is. It is a “prime location.” Perhaps one of those companies will find it on their own or decide to at least look at it. If Cafaro acquires it then, certainly, they have the resources to find someone to fill it nationally whether it’s a grocery store or not.

 

Cafaro has filled empty standalone buildings on mall property more than once. Dick’s Sporting Goods is in the former Phar-Mor building and Planet Fitness was previously an Office Max.

 

“We’ve had success there, and at our other locations, filling buildings not attached to the main building,” said Bell. “There are very good people in our leasing department and they can talk about the benefits of that location if we were to acquire it. The location is really key.”

 

Perhaps having Cafaro acquire the property would be in the best interest of landing something there such as a grocery store. Too many businesses in that genre, as well as restaurants, rely on rooftop surveys and, well, there aren’t enough rooftops in the general area that makes many not even consider going beyond a cursory look at the region.

 

Cafaro can get the big boys to listen. We know, and they know, Meadowbrook Mall and other places in Bridgeport and at places such as Eastpointe and NewPointe in Clarksburg, draw from a much larger area.

 

A friend of mine extremely well versed in retail said a study done years ago showed the mall drew from 14 counties and nearly 300,000 people. Even if that’s off slightly, it’s still a huge number.

 

That’s a fact of the rural nature of the state. No rooftop suvey can measure the “have car, will travel” concept that’s pretty standard in West Virginia. Let’s hope that something comes quick to that site either through Cafaro or someone else with connections to make something happen.

 

As for the bankruptcy itself, Bell said it’s easy to blame on-line shopping for the fall of Toys “R” Us. On-line sales have impacted many businesses and, heck even the bottom lines of city's nationwide (including Bridgeport if you look at their yearly overall budget numbers for the last several years and compare them). Bell said that although you can’t ignore the on-line impact on Toys "R" Us, he doesn’t believe their failure is the result of Amazon or anyone else.

 

“This is a case where a national chain was purchased by venture capital firms who proceeded to finance those purchases loading up the chain with debt. Toys “R” Us used 97 percent of their revenue to pay debt service,” said Bell. “You can’t operate too long under those conditions unless you somehow constantly grow at a rapid pace and that’s almost impossible to do. Today, it’s still a popular store that owns a huge segment of the toy sales market, but there’s too much debt.”

 

Basically, the venture firms – the investment firms in many cases – milk the chain dry. Bell said it’s not good for the market place or the consumers. Only the investors, he said, win out in the long term.

 

Most recently, Claire’s filed for bankruptcy. Bell said from what he’s seen – and what many national media outlets have reported – they should emerge from the situation in good shape.

 

“They’re not struggling with as heavy a debt load and they’re intent on reorganizing and coming out of bankruptcy as early as September,” said Bell.

 

Bell said Claire’s is a prime example of a store that should always have a place at the table for fans of brick and mortar locations. He pointed to something they offer that can’t be purchased online.

 

“One of the things they’re known for is piercing ears. You can’t go to a Web site and have that done. You have to physically go there,” said Bell. “That may be oversimplifying things, but the way to survive is to make sure you have a destination that draws people in.

 

“We’re very cognizant of what online sales mean, but for the latest national figures we have it was less than 9 percent,” he continued. “The rest of all retail shopping was done in physical stores and I firmly believe there’s always going to be a need for those physical stores.”

 

Of course, Bell said that means adapting. Staying on top of trends, knowing the hospitality industry and introducing new restaurants – another experience you can’t do on-line – are key to keeping brick and mortar buildings strong.

 

“In Bridgeport, the fundamentals of the local market place are still very good. We have seen retail sales remain strong even though something like Sears left. Disposable income is solid in the Bridgeport area and the entire region the mall serves,” said Bell. “What we’re seeing now with stores closing is something we’ve seen before, just a different time and sometimes a different reason for it.”

 

“Take a step back and think of all the chains that have come and gone; this has been repeated before with different variables,” he continued. “Montgomery Ward, Woolworth, McCrory’s, Radio Shack, Phar-Mor and others show that sometimes you survive and sometimes you don’t. To say everything today that’s happening is a result of on-line shopping is overstated as it relates to the ailments of brick and mortar locations even though we know it’s taking a portion of what’s already there. We also know it isn’t going away.”

 

Bell said the job at Cafaro is to deal with businesses that you absolutely have to touch and feel. He talked about Claire’s and the ear piercings, craft and fabric stores where individuals need to feel what they’re buying, the experience of dining out and an increase in entertainment facilities.

 

Entertainment, he said, could be a key to a continued future and a healthier one for places like Meadowbrook Mall.

 

“You immediately think of movie theaters and they are a popular staple. There are now high-end concepts where arcades are combined with bowling alleys that have full food and alcohol menus,” said Bell. “Malls are beginning to add trampoline parks in vacant sections that have high ceilings because they are prime locations for indoor entertainment.”

 

Bell also said malls and other plazas are introducing “escape rooms.” That led to the “what on earth is that” question from me.

 

“It’s loosely like a murder mystery themed movie where groups go in and lock the doors. You get clues and get keys to get out,” said Bell. “It’s a way to draw people to your venue where they are likely to spend additional time looking at other products.”

 

Is any of that coming to the Meadowbrook Mall? If there’s any mall that would be ripe and agreeable for something that breaks existing area trends, it would be the Bridgeport retail hub.

 

After all, it’s 35 years old and still has more than 80 percent of its storefronts filled. With the average lifespan of malls around 20 years, it’s already beaten the odds.

 

Now, if we can add something above like Bell talked about, who knows what the future holds. I might not see another 35 years (okay, no chance of that), but it sure would be nice for other generations to see the next incarnation of the Meadowbrook Mall.

 

Maybe it all starts with the next owner of the Toys “R” Us building. Stay tuned.

 

Editor's Note: While most of the photos are self-explanatory, the bottom photo is of Cafaro Corporate Communications Director Joe Bell during the mall's multi-million dollar renovation project several years ago.