Word: malling
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...three-year-old company has been expanding at a Planet Hollywood-like pace. This week Mills opens a $188 million mall in Tempe, Ariz., its seventh location, and just last month it completed a new mall in Dallas. Siegel has unveiled plans for a huge new project at the site of the Grand Ole Opry in Nashville, Tenn., along with new malls near Boston and Honolulu. And the concept has been catchy: rival Glimcher Realty Trust recently opened a Mills-like Great Mall of the Great Plains near Kansas City, Kans...
...GameWorks, the virtual-reality video-game arcade created by Sega, DreamWorks SKG and Universal Studios. "To win in this business you must offer vibrancy and value to fight the pervasive boredom of shopping," says Ian Duffell, CEO of Virgin Entertainment Group, which counts Ontario Mills as its first mall location...
...success of the Mills approach is all the more striking because America would seem to need another mall like Main Street needs another Starbucks. The U.S. already has more than 42,000, from strip malls on rural interstates to the gaudy Forum Shops in Las Vegas. That's 20 sq. ft. of shopping-center space for every man, woman and child in the nation. "We just don't need any more traditional shopping, period," says Craig Schmidt, a retail-industry analyst at Merrill Lynch...
Retailers have always considered entertainment essential to the shopping experience, but in the new malls diversions have taken on a life of their own. The American Wilderness Experience at Ontario features 70 species of live animals, including roadrunners, bats, sea otters and even a giant yellow banana slug, together with a simulator ride and video and interactive nature displays. Billed as "edutainment," the fun and games lead into a store peddling environmental knickknacks and a restaurant called the Wilderness Grill. "If we capture just 3% of the [20 million] people passing through the mall, we'll be doing great," says...
Sawgrass's success is spurring local imitators: Dolphin Mall, a quick taxi ride from the airport, plans to open in 1999 with a roller coaster and other attractions. A Dolphin developer marveled that American Airlines has had to bring in extra cargo planes at times to carry the overflow goods of booty-laden visitors flying home after visits to Sawgrass...