Tuesday, February 27, 2018

America's most successful malls are worth billions and defying the retail meltdown

10. Roosevelt Field Mall: Located in Garden City, New York, this mall has over 250 stores, including an entire luxury wing, a food court that includes vegetarian and kosher options, and a mini golf course in the basement. It's valued at $2.41 billion.Despite the retail apocalypse claiming stores across the country, some of the most successful malls in the US are bringing in more than $1,000 per square foot in sales.

According to research by the boutique firm Boenning & Scattergood, which was reported by CNBC, the 20 most valuable malls in America bring in around $21 billion in retail sales each year. These malls, owned by the likes of Simon Property Group and Westfield, have few vacancies. In addition to traditional stores, many of the most valuable malls include food halls with local eateries, pop-up shops, and grocers, plus experiences like movie screenings or concerts.. . . more

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