fortress mall

fortress mall

A shopping mall of superior quality, with at least one fashion department store, at least four anchors having minimum sales of $500 per square foot, and surrounded by a “moat” consisting of acres of parking.The goal is to capture consumers inside the fortress, where they will remain to conduct all their shopping and dining. Still a strong market segment, but seeing erosion by the newer lifestyle malls.

References in periodicals archive ?
The original fortress mall concept called for a retailing destination designed to capture and contain money-spending patrons all surrounded by a huge moat of parking.
Ultimately, "It will center around a 3 million-square-foot fortress mall and entertainment district with luxury retail, waterfront and recreation destinations, 2,000 residential units, 650,000 square feet of office space, high-end hotels and luxury marinas," according to a company statement.
He defines a fortress mall as an "A plus" complex that has at least one fashion department store and a minimum of four anchor stores.
A fortress mall creates a huge barrier to entry for competitors because its existing stores are established, well matched to the market and are generally strong performers," he said.
04 billion of expected NOI in 2016 will come from fortress malls.
Some REITs are looking to pension funds and institutional advisors in hopes of selling off join-venture interests in certain prime assets, particularly major office buildings and fortress malls.
The national power center market remains positive, with increasing activity expected this year among investors drawn to power centers that are located near fortress malls and/or leased long term to dominant big-box retailers that consistently outperform the industry as a whole.
retail investment in one of the major fortress malls in the New York area," Thompson said.