Ten years ago, Don Ghermezian, CEO and Founder of Triple Five Group, had a vision of the American Dream. For those who may not know, American Dream is an entertainment and shopping complex five miles west of Times Square, located in East Rutherford, New Jersey.
The idea was simple: create a destination that was more than just a place to shop, where people could be entertained and create lasting memories. And that vision, according to Dimitri Lalagos, SVP, Leasing and Retail Development, is still the same today and stronger than ever.
In our latest episode of Retail Recorded, Dimitri shares highlights from the significant progress American Dream has made over the last four years, including successfully surviving the pandemic by creating a dedicated consumer experiential destination. The American Dream vision paid off, with the center’s dwell times significantly increasing, which means that people are staying longer and spending more money.
Where are they spending their money?
Well, that depends on the customer. American Dream comprises high-end luxury stores like Dolce Gabbana and Hermes, midline retail apparel brands like Aritza, Zara and Uniqlo, and utilitarian mass-market shops like DSW, Best Buy and Primark. The shopping experience is complemented by entertainment anchors, which include a Nickelodeon amusement park, DreamWorks waterpark, a three-story It’s Sugar and Oreo branded cafe and shop, a Dream Live immersive theater and Escape Room, Sea Life aquarium and a Ferris wheel. And let’s not forget Big Snow, the indoor ski slope, one of the center’s most popular attractions. There’s really something for everyone at American Dream.
To find out more about how American Dream curates its tenant mix to appeal to a global audience and how brands are coming around to the idea of larger footprints as a long-term investment, listen to this month’s episode of Retail Recorded, Anjee Solanki interviews Dimitri LaLagos, SVP of Leasing and Retail Development, at Triple Five.