New centers opening this year, all in September, are GatewayOverlook, in Benson, MD; Park West, in Peoria, AZ; and the Shops atFallen Timbers, in Maumee, OH. Executives expect to complete theredevelopment of Natick (MA) Mall as well.
Even with the new product coming on line, it is challenging forthe firm to keep up with the constant expansion of retail chains,Bucksbaum says. During the quarter, which ended March 31, thecompany signed a record number of 367 new stores in its portfolio,totaling 1.9 million sf.
Many retailers are opening new concepts in General Growthcenters, such as Abercrombie & Fitch, Cheesecake Factory,Chico's FAS, and J. Crew, says Robert Michaels, the firm'spresident and COO. The company is also looking to find space inexisting centers to make room for these concepts, he says.
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