In a landmark year for one of America’s largest dining, entertainment and retail destinations, American Dream (developed and owned by Triple Five Group) has successfully opened more than 170,000 sq. ft. of new tenants and is now 89% leased. According to statistics from leading intelligence provider, Placer.ai, American Dream has also seen the largest year-on-year increase in footfall of all retail destinations in the USA.
New openings for 2023—and beyond
Some of the most prominent international fashion brands to join the American Dream during 2023 include: the largest Balenciaga mall store in North America, Canada Goose, Ferrari, Hugo Boss, JD Sports, Lovisa, Watches of Switzerland with Rolex and Cartier Storefronts and Zadig & Voltaire. Additionally, the property is the home for North American flagship stores for brands, including Aland, Elegant Prosper, Saks Fifth Avenue, Hermes, Saint Laurent, Alexander Wang, and Carpaccio, a fine-dining Italian restaurant — all are seeing strong sales volumes.
Having established itself as a leading leisure destination with attractions including the DreamWorks Water Park and the LEGOLAND Discovery Center, American Dream continues to grow an unparalleled experiential leisure and F&B offering. New additions during 2023 include a raft of food and beverage offerings, including Marcus Live! by Marcus Samuelson, Michelin star restaurant Szechuan Opera, Jarana (by celebrity chef, Gaston Acurio), Isola Bella champagne and wine bar, and leading Asian grocer, H-Mart. The destination’s leisure offering is also stronger than ever with first-in New Jersey locations of Activate, Nickelodeon Theme Park, Acuitis, as well as the only Paradox Museum location in New Jersey.
Paul Ghermezian, Vice President of Triple Five Group comments, “American Dream is a place where anyone can spend an entire day with family and friends. There are few other destinations in the world where visitors can ride a roller coaster, go down a water slide, go skiing down a hill, shop at over 200 retailers and eat fine dining all in one location.”
Sandi Danick, Senior Vice President of Leasing for American Dream/Triple Five Group, added: “We pride ourselves on a diverse and expansive offering and are delighted to be able to welcome so many leading international brands to the centre as we continue to build one of the continent’s leading destinations.”
Building a community hub for everyone
A key element of American Dream’s success during 2023 can be attributed to its keen focus on culture and community at the destination, featuring a wide-ranging themed events calendar, including a Mid-Autumn Fashion Show, Lunar New Year activations, the Fiesta in America event, Food Truck Fest, the Royal Canadian Circus, K-Pop week and Hamapsik Family Day, with some events attracting upwards of 30,000 visitors. The popularity of the development as a community attraction is demonstrated by its record returning visitor numbers, with 92% of visitors having returned at least four times since their first visit.
Insights from across the pond: Attending MAPIC 2023
As the fastest-growing retail destination brand in the US, American Dream and Triple Five Group attended MAPIC 2023 in Cannes, the leading international event gathering the retail property, leisure, food and tech communities. Paul Ghermezian, Vice President, was on site to highlight the organisation’s unique international offer to European brands, and to discover the latest European concepts.
Senior Vice President of Leasing, Sandi Danick, also spoke at MAPIC’s exclusive Leisure Summit, discussing insights with industry leaders on how developers and asset managers are looking to reanimate destinations with leisure. Sandi spoke alongside senior executives from Agorize, Kiabi, Nhood, KCC, F1 Arcade, LDC Partners and 360 Karting.
