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The top 15 most productive shopping centers in the U.S.in terms of average sales per square foot.<br><br><br><br>There ’s no doubt that shopping centers have taken a beating of late.The most successful,however,tend to have some common...

The top 15 most productive shopping centers in the U.S.in terms of average sales per square foot.

This story first appeared in the December 26, 2002 issue of WWD.  Subscribe Today.

There ’s no doubt that shopping centers have taken a beating of late.The most successful,however,tend to have some common characteristics:they are popular tourist destinations,filled with high-end retailers,have a captive audience and/or are located in a densely populated area.Afterthe top 15,several centers reportedly fall slightly above the $600 range,including the Las Vegas Fashion Show and The Somerset Collection inTroy,Mich.More than a dozen centers are said to do $500 to $600 a square foot in sales,including powerhouses such as Garden State Plaza inParamus,N.J.and the Roosevelt Field Mall in Garden City,N.Y.The following list is based on consensus estimates.

1

BAL HARBOUR SHOPS

BAL HARBOUR,FLA.

SALES PER SQUARE FOOT:$1,350

Stores like Bulgari,Cartier,Chanel,Christian Dior,Ferragamo,Giorgio Armani and Tiffany &Co.,and their high price points,helpedland Bal Harbour Shops into the top slot.Saks Fifth Avenue and Neiman Marcus anchor the palm-tree lined open air center.

2

THE FORUM SHOPS at Caesar ’s Palace

LAS VEGAS

SALES PER SQUARE FOOT:$1,300

The F rum Shops is a unique shopping environment replete with human “statues ” and a captive audience of high rollers..You can watch the sky-painted ceilingchange from day to night to day over the course of 24 hours or visit designer boutiques like Bulgari,Christian Dior,Escada,Gucci and P lo Ralph Lauren.

3

ALA MOANA CENTER

HONOLULU

SALES PER SQUARE FOOT:$920

With about 230 stores including Chanel and Gucci,Ala Moana has been the place to shop n the island.But the center will get some competitionfrom 2100 Kalakaua Avenue,a 110,000-square-foot project rising in Waikiki.Some tony shops have already announced their defections.

4

THE AMERICANA MANHASSET

MANHASSET,N.Y.

SALES PER SQUARE FOOT:$900 to $1,000

This small open air shopping center has landscaped gardens and every upscale shop worth mentioning,from Giorgio Armani andPrada to Barneys New York.It ’s deep-pocketed customers from Nassau County,Manhattan and beyond,are a loyal bunch.

5

SOUTH COAST PLAZA

COSTA MESA,CALIF.

SALES PER SQUARE FOOT:$700

South Coast Plaza boasts high-end shops such as Giorgio Armani,Chanel,Céline,Donna Karan New York,Yves Saint Laurentand Van Cleef &Arpels.Department stores such as Sears drag down South Coast Plaza ’s square foot sales average.

6

THE MALL AT SHORT HILLS

SHORT HILLS,N.J.

SALES PER SQUARE FOOT:$700

Affluent New Jersey suburbanites ,tourists and Manhattan folks who don ’t want to pay sales tax on high-ticket clothing flock to the mall.The draw isBloomingdale ’s,Saks Fifth Avenue,Macy ’s,Neiman Marcus and Nordstrom,plus Giorgio Armani,Burberry,Chanel,Fendi,Gucci,and Louis Vuitton.

7

FASHION SQUARE

SHERMAN OAKS,CALIF.

SALES PER SQUARE FOOT:$700

Anchored by Macy ’s and Bloomingdale ’s,the center is known for its fashion savvy with trendy

shops not found in ther malls,including Hepburns and a Betsey Johnson boutique.

8

COPLEY PLACE MALL

BOSTON

SALES PER SQUARE FOOT:$700

In a city known for great shopping streets such as Newbury Street with its designer boutiques,the Copley Place Mall still holds its own.The upscale mall features shops such as Bally,Christian Dior,Gucci,Louis Vuitton and Tiffany &Co.,and is anchored by Neiman Marcus.

9

THE SHOPS AT PRUDENTIAL CENTER

BOSTON

SALES PER SQUARE FOOT:$700

Hotel guests,ffice workers and residents of nearby apartment towers spill into The Shops.The mall is anchored by Saks Fifth Avenueand Lord &Taylor,however,L&T has opted not to renew its lease.Specialty shops include mall staples such as Ann Taylor.

10

DADELAND

MIAMI

SALES PER SQUARE FOOT:$690

A raft f mid-to moderate-priced stores such as A Pea in The Pod,Ann Taylor,Caché,Casual Corner,Episode,LillieRubin,Petite Sophisticate,Size 5-7-9,Talbots and Wet Seal populate this mall located in a densely-populated area.10

11

UNION STATION

WASHINGTON

SALES PER SQUARE FOOT:$690

It ’s a train station!It ’s a mall!It ’s an immense food court!The restored beaux-arts structure is all these things andmore,with 125 stores such as Ann Taylor and Chico ’s,eateries such as B.Smith and a nine-screen movie complex.

12

AVENTURA MALL

AVENTURA,FLA.

SALES PER SQUARE FOOT:$680

Moderate mall staples such as Lerner New York,Limited and Express co-mingle with fashion brands like Bebe,BCBG Max Azaria,White House and Caché.Despite the moderate bent,Aventura racks up high sales per square foot due to heavy foot traffic.

13

LENOX SQUARE MALL

BUCKHEAD,GA.

SALES PER SQUARE FOOT:$660

Located in the upscale suburb of Buckhead,Lenox Square is anchored by Macy ’s,Rich ’s and Neiman Marcus.The mall has 230 mostly upscale specialty stores and restaurants,a six-screen theater and luxury hotel.

14

THE GALLERIA

HOUSTON

SALES PER SQUARE FOOT:$650

Lord &Taylor,Saks Fifth Avenue,Neiman Marcus and Macy ’s anchor the Houston Galleria.Texas gals – who areno shrinking violets –keep assertive boutiques such as Gucci,Versace,Versus,St.John and Yves Saint Laurent flush.

15

TYSON ’S GALLERIA

MCLEAN,VA.

SALES PER SQUARE FOOT:$650

Tyson ’s Galleria,wned by General Growth Properties in Chicago,boasts Neiman Marcus,Saks FifthAvenue and Macy ’s as anchors.The center ’s cache is boosted by its proximity to The Ritz Carlton hotel.15

SOURCES:THERESE BYRNE,RETAIL MAXIM REPORT,REAL ESTATE INVESTMENT TRUSTS AND COMPANY REPORTS..MALLS WITH SIMILAR VOLUME ARE LISTED IN NO PARTICULAR ORDER;PUBLISHED AUG.1,2002