 | | Depending on who you speak to, the 3.5M SF American Dream mall in New Jersey is either a growing toddler starting to find its feet or a problem child — a bold and pioneering model, billed as a one-of-a-kind retail and leisure extravaganza, or a project where the only luck to be had is bad luck. With the crucial holiday season trading in full swing, the second-largest shopping mall in the U.S. has hit 89% of stores, entertainment, and food and beverage space leased, according to Paul Ghermezian, vice president at owner Triple Five Group and chief operating officer of American Dream, who said that the destination has hit “critical mass.” But the the third and newest of a triumvirate for the Canadian development and finance corporation that includes two more megamalls, the Mall of America in Minneapolis and West Edmonton Mall in Canada, has also been beset by construction delays, significant losses and debt dilemmas. Ghermezian is resolutely upbeat about the project’s future. Speaking to Bisnow at the MAPIC conference in Cannes, southern France, where he was showcasing the latest raft of tenants to sign up to the retail and entertainment center, he said American Dream has seen growing momentum in the years after a pandemic-interrupted debut. A number of new stores opened in November, including Zadig & Voltaire, Canada Goose, Rolex, Watches of Switzerland, Cartier and the Marcus Live Bar & Grille from celebrity chef Marcus Samuelsson, a flagship outlet for his small restaurant chain. The dining addition joins recent F&B openings by Michelin-starred restaurant Szechuan… Read Full Story |
