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 leading technology brand Huawei, recently gave its loyal Honor 6X fans a chance to meet and greet and take pictures with the young and vibrant Pakistani heartthrob - Shehryar Munawar in the Fortress Mall, Lahore.
Before the event, on the 26th of January, Edward Maya will be heading to QMobile 'S flagship store located at Fortress Mall for a meet and greet session.
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.
Class A malls, or fortress malls, generally create the most profitable sales and have a good number of quality retailers in them.
"Fortress malls, luxury retail stores and well-located grocery-anchored shopping centers in gateway markets, parallel with wholesale clubs and off-price outlets have outperformed the sector," says Bill Rose, national director of the firm's National Retail Group (NRG).
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.
"Fortress malls are good and continue to be rated a very stable and high-profile asset," says Lee Sobel, an associate in the investment properties group at CB Richard Ellis' Miami office.
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.
"Fortress malls in superior locations, for instance, are thriving, having shifted tenant mix surprisingly fast and collaborated with distressed merchants to preserve occupancy."
They favor holding onto, but not adding, full service hotel and top regional mall investments (fortress malls) for now.