JACKSONVILLE, Fla. — Four big retailers near the Regency Square Mall are deciding to close their doors. Low traffic and low revenue are forcing them to move out of the Arlington market.
Some 43,000 cars pass the Regency Square Mall every day, but not many of them stop to shop anymore. Most people have turned to The Avenues Mall, the River City Marketplace or the St. Johns Town Center.
"We don't have the variety of stores, which right now we're having a drain on in this marketplace," said Jim Cramer, manager of the Regency Square Mall.
In January of last year, Action News was on the scene when a fire destroyed the Olive Garden restaurant near Regency. We're told Olive Garden will rebuild and reopen, but others nearby are moving.
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World Market and Bed Bath and Beyond have announced their departure.
"Getting a good quality tenant who has tried the market and has decided to leave the market, to convince them to stay is very hard," said Cramer.
Cramer said their corporate office has offered them other location options at the mall, like the Montgomery Ward that's been vacant for some time. We're finding out that the same is being done for Tiger Direct, an electronics retailer also looking to move elsewhere.
Cramer said the mall's owners are offering everything they can.
"We've offered a big box tenant a year free rent. Come and try us. All you're going to do is pay your utilities," said Cramer.
The mall manager said so far, none of the retailers have given them a flat out "no," so there's still a chance they may want to stay.
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