By: Stefan Martinson
There goes the neighborhood.
Malls operators in northern New Jersey are seeing a major new competitor move in, and they are not happy.
The American Dream retail and amusement complex in the Meadowlands is set to debut on October 25th. Its owner, a company called Triple Five Group, is looking forward to as many as 40 million annual visitors.
“There are shopping centers that are underperforming, and I think those are the ones that need to worry,” Poonam Goyal, an analyst at Bloomberg Intelligence, told Crain’s New York Business. “Some of the smaller malls that are just surviving, with American Dream opening … they may have more struggles ahead of them.”
“American Dream is an extraordinary and inclusive community that will mean something different to everyone who visits, whether they are residents of the area or traveling from abroad. With all of its unique components, this destination will be the realization of our guests’ wildest dreams,” said its CEO Don Ghermezian.
His web site describes American Dream as “a revolutionary, first of its kind community for fashion and luxury retail, fine to casual dining and an array of unexpected entertainment. Developers Triple Five Group bring their expertise in curating fantastical destinations to this diverse, inclusive community. The premier property will host hundreds of shopping and entertainment opportunities, appealing to all tastes and interests. Whether guests are playfully indulging their imagination through window -shopping, curating the world’s finest luxury wardrobe, seeking adventure or leisure, there is something for everyone at American Dream.”
Many are already looking forward to the property’s unprecedented indoor Nickelodeon Universe Theme Park and DreamWorks Water Park – 16 acres of fully enclosed family amusement experience; Big SNOW Ski and Snowboard Park – North America’s 1st indoor snow sports center; the Ice Rink – an NHL‐size skating and hockey facility; and the Angry Birds 18‐hole Miniature Golf experience.
Totaling approximately 3 million square feet, the company said in a release, American Dream will house hundreds of diverse retail, dining, entertainment and fashion experiences which have been carefully selected, curated and integrated into an architecturally stunning and vibrant guest experience including: the Coca‐Cola experience, featuring the Coca-Cola Social Lounge; Merlin Entertainments’ LEGOLAND Discovery Center & SEA LIFE Aquarium; CMX Luxury Movie Theatre; Munchies Food Hall; Kidzania – world‐renowned role‐playing experience for kids; American Dream Observation Wheel; Performing Art Center; and over 100 dining and specialty food offerings including over 20 full‐service restaurants, Coca‐Cola “Eats” Food Hall and Kosher Food Hall; and the Collections at American Dream – the ultimate luxury retail experience anchored by Saks Fifth Avenue and Barneys New York and featuring Hermes, Tiffany & Company, Dolce Gabbana, Moncler, Watches of Switzerland among a who’s who list of luxury and fashion retailers.