Anyone go to American Dream Mall (Rutherford, Secaucus: 2013, tenants, luxury)
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In reality, the project was originally envisioned and planned in 2004 by The Mills Corporation, which was based in Maryland.
After many fits, false starts, and the bankruptcy of Mills Corp, ownership of the property passed to Colony Capital, from Florida.
Colony Capital couldn't see the project through to fruition, and it was bought by Triple Five, of Canada, which--for better or worse--finished construction and has proceeded to open their huge facility... in stages.
Been there a couple of months back. It was pretty empty or maybe I expected it to be a bit more filled up given the typical scenes at the surviving malls in NJ. Its new and shows. Not many stores were open but again that expected. We confined ourselves to one section of the malls and tried to discover all three levels. Given that there were less people it was a relaxed experience, probably had something to do with the fact that we were able to step out after almost 14/15 months of self inflicted curfew.
All in all one can see they have planned for a lot of activities, shops and entertainment. Yet its also apparent that if the malls takes off (which it could have given the pre-covid crowds at Jersey Garden malls) it would be very very busy. And if it gets truly busy I doubt it would continue to be neat and clean.
I have nothing for malls or against it. With young kids it serves as a good distraction that is a short driving distance away. But I would not miss it if it were to close down. If you look at it from an economic activity then it needs a solid connect with NYC and rest of NJ. Maybe a direct transport from Secaucus dedicates to Mall goers would help (dont know if they already have one).
The idea definitely had potential but then Covid nixed it.
The idea definitely had potential but then Covid nixed it.
And, Covid was the final nail in the coffin for Lord & Taylor, Century 21, and Barney's.
Thus, at least three of the mall's major tenants cannot fill the spaces for which they had contracted. There may well be more retail establishments that won't be taking their place at American Dream as a result of the pandemic, but these are three significant ones with which I am familiar, and--of course--L & T was an anchor store, so that is a major loss for the mall.
And, Covid was the final nail in the coffin for Lord & Taylor, Century 21, and Barney's.
Thus, at least three of the mall's major tenants cannot fill the spaces for which they had contracted. There may well be more retail establishments that won't be taking their place at American Dream as a result of the pandemic, but these are three significant ones with which I am familiar, and--of course--L & T was an anchor store, so that is a major loss for the mall.
Possibly a good way to use it would be like an exhibition center and mall rolled into one. That way its used to showcase goods using the 'touch and learn' model. It can be upcoming automobiles, electronics, sports equipment, home gadgets and improvements, fashion, makeup, learning, elderly care, hobbies. Essentially unpacking what's the latest and greatest that is unfolding in rest of the world. These days every store does these activities as per their merchandise upfront and then goods are stacked at the back. But that means families or consumers huddling into corners of a store at a time.
For retail to succeed in the brick and mortar format it might have to embrace the theme park model. People see and try what they like and then either buy it by going to the higher level where the shops are or online. The mall definitely has open space and thus the emphasis should be on a relaxed experience rather than a rushed one typical of box retail stores. Another thing that happens with box stores is if a particular label does not resonate with a buyer they are least likely to give it a look. On the other hand if one is interested in a theme there is a great chance for new brands to be discovered.
Sorry had too much time on hand today to talk about retail
Perhaps if they an entire wing they cant fill with tenants, they ought to tear down the walls, and use as a convention center.
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