When I go home, I always go to Scottsdale Fashion Square. I've been going to this fantastic mall since I was 10 years old. I just love it. I love shopping, eating lunch and seeing movies there. I really can get around with my eyes closed.
A friend of mine recently "tweeted" an article about America's Most Profitable Malls. Guess which one was on the list!? The fabulous Fashion Square. Other malls on the list were in New York, San Francisco, Hawaii, San Diego, Vegas and New Jersey (Paramus & Short Hills--side note: I will always love The Mall at Short Hills for helping me find my Uggs).
Excerpted from the article:
Using data from Green Street Advisors, an investment research firm in Newport Beach, Calif., that specializes in publicly owned real estate companies, U.S. News identified malls in which the retail economy is relatively healthy. While bargain shopping is obviously popular, the nation's most profitable shopping centers generally don't rely on discounters. Instead, they tend to feature chains with a strong brand identity, like Nordstrom, Abercrombie & Fitch, Apple, and Anthropologie. Since it's all about real estate, location is vital: The best malls tend to be in densely populated areas or tourist hotspots. And it sure helps if local residents are affluent.
The data we analyzed includes sales, occupancy rates, and quality grades for about 650 of America's biggest shopping centers. All of these properties post average sales of about $420 per square foot, and the average occupancy rate is 92 percent. That earns an A- grade. The 10 malls at the top of the list perform much better, with sales well above $600 per square foot and occupancy rates of 94 percent or higher. And each earns an A+ from Green Street for its performance and the quality of its tenants. Here's where shoppers are still spending money:
Scottsdale Fashion Square, Scottsdale, Ariz. (95 percent; $618). When it's too hot to go outside—which is often—Arizonans shop, and Fashion Square has a number of stores, like Neiman-Marcus, Burberry, and Jimmy Choo, that are found nowhere else in the state. The housing bust has hammered Arizona, but Scottsdale is still one of the nation's fastest-growing cities, with high incomes to match. Barney's New York, coming to Scottsdale in the fall, will mark another first for Arizona.


