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.

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He signed autographs and took selfies with a lot of people in the Fortress Mall.
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.
Fortress malls and better power centers are keepers in 2004 investment strategies, while grocery-anchored retail, particularly those with less-than-top-tier supermarkets, will face ongoing showdowns with expanding discount superstores.
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.