American Dream Mall Bucks Retail Nightmare, Nears 90% Lease Rate
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When shoppers visit the long-awaited American Dream mega-mall in New Jersey this spring, they can expect to see it crammed with stores, restaurants and entertainment activities. It didn’t always seem that way.
Developers have leased almost 90% of its available 3.3 million square feet, a figure which rises to nearly 100% when leases under negotiation are included, according to a filing. In particular, all retail anchor stores have been spoken for -- which is critical for malls because those locations, typically department stores, are key in driving foot traffic.