Find in the news:
BY COUNTRY

Former Anchors Being Filled With Entertainment, Recreation Options



Some operators are looking to entertainment and recreation options to fill space or just draw customers in.
Not too long ago, it would have been nearly unthinkable for a mall or shopping center to remain viable without a familiar anchor tenant. The changing retail landscape has done a number on some retail bellwethers, some of whom have had to pick their spots and close up unprofitable locations. That translates into a healthy amount of square footage for property owners and managers to fill up. For the ones that remain, the cold hard facts say that anchors just aren’t the draw they used to be. 

As the Chicago Tribune reports, some operators are looking to entertainment and recreation options to fill that space or just draw customers in - and it’s working out really well. For example, at the Woodfield Mall in Schaumburg, a suburb of Chicago, customers have a wealth of options at their disposal outside of traditional shopping and dining options.  Mall visitors can enjoy some fine art while they’re browsing, get some laughs at a comedy show, or stop into the Pac-Man-themed restaurant, which features bowling and arcade games as well.
 
Woodfield Mall

"We want to give shoppers variety. It rounds out our tenant mix and provides an option for people to do more here than they might have done 10 years ago," shared General Manager Kurt Webb. 

Similar scenarios are playing out in malls and centers all over the nation, but it’s not just a phenomenon that’s trending among individual operators. It’s reached the corporate level as well, and mall behemoth General Growth Properties recently referred to redeveloping underperforming anchors as a “win-win” situation. Company data suggests that sales at anchor stores are down 10% over the past decade, while smaller stores have seen a nice increase of 33%. 

That’s led the company to redevelop some of the anchor spaces it already owns, and proactively acquire spaces that are owned by the anchors themselves. One property that has seen the redevelopment of an anchor firsthand is the Oakbrook Center in Oak Brook, Illinois. At that property, a former Bloomingdale’s was transformed into several smaller stores, while the lower level of the Neiman Marcus was remade into two restaurants. 

Oakbrook Center

"It's part of a bigger strategic decision, where we're looking at what we want the mall to look like, what it's missing, and what we need to add to make it a stronger center," said spokesman Kevin Berry.

Related shopping malls and stores:

More about shopping malls in the USA



TODAY, USA:
The luxury brand has recently unveiled its latest retail venture.
Jul 12, 2024, India:
Crocs has entered into a strategic partnership with Apparel Group India.
Jul 11, 2024, USA:
Italian luxury brand Brioni has expanded its presence in Texas with the opening of a new store in Houston.
Jul 10, 2024, Canada:
Best Buy Canada is set to make a significant expansion into smaller communities across Canada.
Jul 9, 2024:
Forever21 initiated its exit from Colombia by shuttering its flagship store in Bogotá.
Jul 8, 2024:
Migiboy Tekstil secured over 90% of Naf Naf's workforce, retaining 100 directly-operated shops and 51 affiliates.
Friend
and Follow
Hillcrest GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe
Woodfield Mall GLA:2 200 000 SF
ADDRESS: 5 Woodfield Mall, Schaumburg, IL 60173
USA . Schaumburg
Woodfield Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us