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Sales / occupancy rates at
malls are stagnant; only fortress malls continue to thrive 2009 More than 60 new malls larger than 400,000 square feet open in U.S. 80s–90s First enclosed regional mall, Southdale Center, opens in Edina, MN 1956 First megamall opens in Alberta, Canada with over 800 stores 1981 Mall of America opens with more than 35 million visitors in the first year 1992
The new-class consumer provides
instant feedback. She posts pictures of what she likes on Instagram and complains on Twitter about bad customer service. She spends money in places where she enjoys being. The smart retailers are taking this feedback and evolving their visions and merchandising strategies. ! Liz Gillespie VP Marketing North American Properties
We've had a real
estate strategy of not bundling or taking weaker malls, and we go to [lifestyle] centers… which allow us to really drive our business through community. Christine M. Day Lululemon Athletica Former President and CEO
We rarely do malls. Our
preference is to be on the street. In a suburban market, we want to be in a village atmosphere that has pedestrian as well as vehicular traffic. ! Wade McDevitt Representative for Anthropologie
2 STORES OPENED THIS YEAR
4 MORE OPENING The Woodlands in The Woodlands, Texas (Lifestyle Center / March 2014) Shops Around Lenox in Atlanta, Georgia (Open-Air Center / May 2014) University Park Village in Fort Worth, Texas (Lifestyle Center / Summer 2014) The Summit in Birmingham, Alabama (Lifestyle Center / Fall 2014) Avalon in Alpharetta, Georgia (Mixed-Use / Fall 2014) Classen Curve in Oklahoma City, Oklahoma (Mixed-Use / Fall 2014)
3 STORES ANNOUNCED TO
OPEN THIS YEAR Belvedere Street in Tiburon, California (Standalone / June 2014) North Hills in Raleigh, North Carolina (Lifestyle Center / June 2014) Avalon in Alpharetta, Georgia (Mixed-Use / Fall 2014) Planning to open another 5-10 before the year’s end; haven’t announced where or when
78 FREESTANDING STORES The McLaughlins
seek buildings with character on street locations, occasionally open in lifestyle centers, and shun malls. “Frankly, the mall atmosphere diminishes the brand.” – Kevin McLaughlin
THE GROVE’S AWARD-WINNING CONCIERGE
SERVICES Personal shopping Dining reservations Package check Store, area and tourism information Foreign language assistance Events and activity assistance The Grove Gift Cards by American Express
THE AMERICANA AT BRAND’S
CONCIERGE SERVICES Bellman service, package assistance, package check Restaurant and travel reservations Assistance with concert/event tickets Postage, mail, shipping and delivery assistance Gift giving and shopping assistance Gift cards by American Express
THE AMERICANA AT BRAND
HAS 16+ MILLION VISITORS PER YEAR GENERATES ANNUAL SALES OF $1,100 PER SQUARE FOOT OUT OF ITS 70 STORES
The Southeast’s preeminent experiential
development – a place where resort-inspired hospitality, specialty retail, entertainment, restaurants, residences, offices, hotels and public spaces come together to create a truly unique experience.
$600M MIXED-USE DEVELOPMENT IN ATLANTA
SUBURB GETS GREEN LIGHT —COMMERCIAL PROPERTY EXECUTIVE ALPHARETTA’S AVALON PROJECT SNAGS 1ST TENANT —ATLANTA BUSINESS CHRONICLE One of Atlanta’s Hottest Restaurant Groups Signs at Avalon — North American Properties “ALPHARETTA’S AVALON IS DRAWING IN-TOWN RESTAURANT, RETAILERS” —11ALIVE “ALPHARETTA LIVE-WORK-PLAY DEVELOPMENT TAKES NEXT STEP” —WSB–TV “AVALON GROWTH APPROACHING TO BOOST ALPHARETTA” —GEORGIA NEWS
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Shutterstock / 35694751 AMC, The
Walking Dead (Fair Use Doctrine) Shutterstock / 148370285 Wikimedia Commons Wikimedia Commons Flickr / “South Coast Plaza, Costa Mesa, 1980s" by Orange County Archives Flickr / "(Formerly) My Drive Home" by SteevzStuff Flickr / "Northpark Center" by Terrance Gilbert Shutterstock / 160438778 Atlantic Station / North American Properties Flickr / “The Grove in Los Angeles” by Eric E. Johnson Angie Mosier Shutterstock / 3666347 Atlantic Station / North American Properties Shutterstock / 119152066 Lululemon / Media Assets Flickr / “Anthropologie" by Dave Pinter Wikimedia Commons Kendra Scott Blog Flickr / “Vineyard Vines Hingham in-Store" by Jeff Cutler Flickr / "The Grove (Los Angeles)" by Prayitno Photography Flickr / "LA Farmers Market" by Prayitno Photography Flickr / "The Americana at Brand" by Chris Yarzab Shutterstock / 94124290 CREDITSSlide 2, 3, 4 Slide 5, 6 Slide 8 Slide 10 Slide 11 Slide 16 Slide 19 Slide 22, 23 Slide 26-29 Slide 30, 31 Slide 36 Slide 38 Slide 40 Slide 41 Slide 45 Slide 48 Slide 49 Slide 52, 53 Slide 54, 55 Slide 65