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.