Patrice Duker
Patrice Duker
almost choice decade lifestyle
Almost every decade has its development of choice. This decade it's the lifestyle center.
among effort invest largest seeing usual
This year, we're seeing an even more concerted effort than usual to invest in properties, especially among the largest companies.
easter positively shift shows
What it shows is the Easter shift is working positively for April.
accounting beginning came christmas december driver easter june last march november percent retailers sales season summer total
Easter is the third-biggest seasonal driver for retailers in malls. The Christmas season November and December accounted for 25 percent of their sales last year. The beginning of summer May and June accounted for 15. 4 percent of total sales last year. Then came March and April, accounting for 12 percent of sales.
combine economies smart stores
When you combine all stores into one brand, you have the economies of scale. It's a very smart move.
seen
We've seen gyms go in as anchors. We've seen day spas go in.
allowing gathering late malls open since steam theaters
Restaurants and theaters are part of the mall-mix gathering steam since the late 1990s, allowing malls to open up to a whole new set of consumers.
malls trying
Malls are trying to be something to everybody.
build certainly customers detroit draw great helps mall opportunity provides simple
It certainly provides them a simple opportunity to draw customers that do not typically go to the mall in January. It helps build that traffic. It is a great tie-in. They also are celebrating that Detroit has it. You all are going to be the highlight.
center ensure environment mindful secure security trying works
We just have to be mindful that what works for one center may not work for another center, because (security) is very site-specific. Overall, what they're trying to do is ensure it's a secure environment for everyone.
behind calendar changes consumer industry saw spending strength
Overall, the industry still has a lot of strength behind it. I don't think we're in trouble. When you have a calendar shift, you see changes in consumer spending patterns, which is what we saw in March.
available city core customers gets household income locate stores sure
These stores want to make sure they have a core of customers available in a city before they open. The stores look at median household incomes. If the median income is $80,000 or more, they will probably locate there. If it is $30,000 or less, then it gets tough.
department enclosed stores
Department stores will always have a place in enclosed malls. You won't have 40 or 50 vying to be in that space, but they are out there and they are looking.
open pay store taxes
An open store is a (financial) liability. They still have to pay taxes on it.