Shopping Malls

Boost Your Capture Power

A statistical, research-based look at what it takes to succeed in the middle of the mall.

San Jose: Power Market

Great weather, an affluent customer base and terrific shopping centers make San Jose the place to be.

Bling My Program!

While TV has been busy documenting makeovers of everything from homes to human beings, a Virginia shopping center has created its own total makeover—on all of its RMUs.

A premier shopping destination with one million square feet of retail space in the heart of Norfolk's revitalized historic downtown, MacArthur Center recently created new visual bling for its already successful RMU (retail merchandising unit) program.

Who's Your Anchor?

When a mall loses its anchor or undergoes renovation, specialty retailers need management cooperation to keep from going adrift.

Daniel Parks had barely moved his Fifth Avenue women's accessory business into Danbury Fair Mall when Federated Department Stores shuttered one of the center's five major anchors, a 172,000-square-foot Filene's. In addition, another of the Danbury, CT, mall's anchors, Lord & Taylor, faces an uncertain future. In June NRDC Equity Partners agreed to buy the 48-store chain, but as of this writing it's unclear what plans the company has for the brand and there has been talk on the street about some stores closing. A closure of the Danbury Fair Lord & Taylor would leave a second gaping hole in the 1.5-million-square-foot center, owned by the Macerich Co. of Santa Monica, CA. The remaining anchors—JCPenney, Sears and Macy's—appear safe.

In a May, 2006 conference call, J.C. Penney Chairman & CEO Mike Ullman told analysts the company "plans to open 50 new stores annually, beginning in 2007, primarily in our successful off-mall format."

MegaMalls

The megamall phenomenon: modern behemoths of retail and so much more. Mall of America in Minnesota, West Edmonton Mall in Alberta, Golden Resource (the world's biggest) in Beijing and others in China are world-class destinations. Other than sheer size (and size they've got!), what do they have that typical malls don't? How do they attract visitors from all over. And what's in it for retailers? Is bigger better? Take a peek inside and be amazed.

Developing the Future

Building, renovating, growing. The universe of malls and their shopping venues is expanding. And that means more room—and opportunity—for specialty retailers.

The world of shopping-center development is anything but static. Plans are on the board for 19 shopping centers—malls, urban villages, festival marketplaces and other major venues—to be built in the US through 2005, according to the International Council of Shopping Centers. While this number is small compared to the 28 centers built between 2000 and 2002, it is noteworthy nonetheless. And these plans don't include expansions and renovations to existing centers (of which there will be many). Nor do they include the continuing trend of developers swapping properties by means of mergers and acquisitions. CBL & Associates Properties, Inc. alone acquired 36 malls since 1998, and is expected to add more to their portfolio. And (as of this writing) the Simon Property Group/Westfield America bid for Taubman Centers is in play, which, if successful, would also change the map of the world of malls. (Because action is pending, those companies declined to provide information for this article.)