What: The mammoth retail and entertainment complex, American Dream, saw big increases in sales and traffic in 2022.

Why it is important: Despite skepticism, delays, and challenges, American Dream is starting to see revenue and traffic gains.

The American Dream, located in New Jersey, is starting to see an increase in sales and traffic after a bumpy start. The $6 billion, 3 million square foot project faced many delays and challenges as it launched in 2019. There were construction delays, leasing and financing challenges, and after four months of being open, the center shut down due to the pandemic.

Now, the center’s partners are finally starting to see a return after a four-year financing deal was made in late 2022 with JP Morgan and the complex gains more brand awareness. The complex expects 95% of the center to be fully leased by the end of the year with luxury stores like Gucci and Balenciaga opening in the fall of 2023.

The center has 15 attractions including a waterpark, aquarium and ski slope which take up more than 50% of American Dream’s gross leasable space. They state that the entertainment is what drives traffic to the retail for them.

American Dream, post COVID-19, capturing crowds