FAO Schwarz will leave its iconic Manhattan location for the Meadowlands, Saks Fifth Avenue and Lord & Taylor department stores will anchor a collection of luxury boutiques, and Cirque du Soleil will establish a permanent theater for Las Vegas-style shows at the American Dream project, according to information the developer of the long-delayed project is circulating as it holds meetings this week to woo retail tenants.
Triple Five, the developer of the project, is telling prospective tenants that more than 50 major retailers, including such mall mainstays as Victoria’s Secret and Gap, have committed to renting space at American Dream, which is scheduled to open in the fall of 2016. More than a dozen restaurants and a permanent Cirque du Soleil theater are also committed, according to a 67-page leasing brochure and the project’s monthly status update for November.
While a developer’s promotional materials about prospective tenants should be viewed skeptically until the project’s opening day, the list of tenants Triple Five has lined up shows that parts of the American Dream will compete directly with North Jersey’s existing malls for tenants.
American Dream, with its planned indoor water and amusement parks, aquarium and other entertainment components, will be unlike any other North Jersey mall, but it is looking to fill its retail wings with many of the retailers that already have stores at North Jersey shopping centers. The project could succeed in luring retailers entering the market for the first time away from Westfield Garden State Plaza and other Paramus malls.
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{ SOURCE: North New Jersey.Com | http://goo.gl/y6lCbL }
