By BRETT R. WHITLING
Clarion News writer
Despite the recently announced closing of its Kmart store, the Clarion Mall’s parent company, Clarion Associates, is optimistic about the shopping center’s future.
Sears, the owner of Kmart stores, last week released its latest list of store closings which included its Clarion store in the mall.
Speaking as one-third owner of Clarion Associates, Jim Giunta said, “The news of Kmart closing is very disappointing. Kmart has been with us since day one when the mall opened. The store had been doing well but we were aware of Kmart’s national problems.”
Giunta said Clarion Associates, has been having conversations with potential tenants who have expressed “exciting levels of interest” to replace Kmart’s Clarion store.
Regardless of which retail outlet fills the space or even a portion of it, Giunta has researched potential tenancy before and hopes for future tenant(s) to enhance the shopping experience and be the type of store shoppers would frequent.
“Overall the mall is doing well and we are excited for the future,” Giunta said. “It’s no secret that Kmart has had trouble for years but this gives us an opportunity to start fresh with tenant(s) to make the mall a better destination.”
With Giunta’s father being the Clarion Mall’s original developer, Clarion’s “primary shopping location” has been in his family since its opening.
The Clarion Mall property is one of the top five real estate tax generators in Clarion County with an assessed value of more than $2.5 million.
Although national brands like Sears have closed a large number of stores in recent years, sales from retail outlets have continued to increase 21 out of the last 24 years, according to the U.S. Census Bureau.
In fact, most categorized retail stores and food services sales have continued to grow over the years.
With having ups and downs, retail stores continually rotate as shopping trends change and brands come in and out of existence.
The Clarion Mall is no exception.
An example is the Peebles building, located in the Clarion Mall parking lot. After being Kroger’s, then County Market, the location was partitioned and is now home to Peebles, UPMC Northwest Community Medicine and Anderson Physical Therapy.
Giunta recognizes how shopping online has changed the way people do their purchasing but he has confidence in the future of physical stores.
“There is no substitute to seeing, touching and feeling a product before purchasing,” said Giunta. “Brick and mortar will always be essential to retail.”