What:  The largest mall in the US finally comes to completion

Why it is important:  The luxury section, initially intended to make the most of international tourism, is now addressing local communities and neighbouring states.

The American Dream mega mall, which opened in 2019 just before the Covid-19 pandemic, finally comes to completion by opening its luxury section, called the Avenue, a year or so after its planned opening date. It will include Saks Fifth Avenue (reported here) as well as international brands (Hermes, Saint Laurent, Tiffany, Dolce & Gabbana, Mulberry…). The 30,000 square meters wing is currently leased at 70%, as some significant tenants which signed up at the beginning simply disappeared in the meantime (Lord & Taylor, FAO Schwartz, Barney’s).

Speculations on the fate of this mega-mall in a post-pandemic world have gone for some time now (read this report from the New York Times in December 2020) and initially intended to draw international tourists. Due to the Covid-19 pandemic, it has adjusted its offer, to a total of 45% retail and 55% entertainment, to better address the local communities and neighbouring states (Pennsylvania, New Jersey, New York, Connecticut, Florida, Ohio).

American Dream Mall