Apple plans to open a flagship store at American Dream in the New Jersey Meadowlands alongside a ski slope, an aquarium, and more.
The owners of the American Dream mall in the New Jersey Meadowlands like to boast that their project has attractions not found in any other malls in the New York metro area, or much of the world – indoor water and amusement parks, a ski slope, an aquarium, an observation wheel. But the future tenant they seem proudest of lately is something many malls already have – an Apple store.
The news, revealed by mall officials, that Apple plans to open a flagship store at American Dream gives the mall, which has struggled to fill its retail space, an important retail stamp of approval.
Don Ghermezian, CEO of American Dream, confirmed that Apple had signed a lease, saying it is one of a number of impressive retail tenants coming this year to the mall… The store is expected to open by the end of the year, and will be located on the second level of Court D, across from the two-story Zara store, according to mall officials… American Dream officials said they could not comment on how may square feet Apple will occupy at the mall because the details have not been finalized.
MacDailyNews Take: This will help the American Dream mall immensely in attracting retailers to fill its gigantic 3-million square foot complex.
Apple Stores are usually the primary draw for the entire shopping center or retail area… Apple should be paying less in rent than the other retailers who benefit from the nearby presence of an Apple Store. — MacDailyNews, August 2, 2020
As we noted back in 2015: A growing number of malls are actually paying Apple to build a store in theirs.
And, now for a true classic:
I give [Apple] two years before they’re turning out the lights on a very painful and expensive mistake. – David Goldstein, Channel Marketing Corp. President, commenting on Apple’s opening of retail stores, May 21, 2001
SEE ALSO:
Apple Retail Stores are saving many shopping malls from death – August 4, 2017
Apple by far the No. 1 retailer in sales per square foot, nearly double those of Tiffany & Co. – July 27, 2017
How the Apple Retail Store took over the world – July 22, 2015
Overall sales at shopping malls with an Apple Store are 10% higher – March 11, 2015
Apple Stores dominate retail with double the sales per sq. ft. of nearest rival, Tiffany & Co. – November 13, 2012
Why authorities waive rents and taxes to land Apple Retail Stores – May 20, 2012
Apple Retail Stores challenge department anchor stores – June 10, 2011
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I just wish the Apache Mall in Rochester, MN had an Apple Store – other than Mayo, Rochester doesn’t have jack!