Posted on 09/23/2023 5:10:33 PM PDT by dynachrome
The American Dream Mall, New Jersey’s behemoth shopping destination located in the Meadowlands, saw its losses quadruple in 2022 to $245 million as it struggled to attract retail tenants amid sagging customer traffic and expenses soared amid a heavy debt load, according to recent filings.
In the years since its opening just five months before the pandemic struck in 2020, the 3.5 million-square-foot mall — which is home to an indoor ski slope, the Nickelodeon Universe Theme Park, and a whopping 450-plus stores — hasn’t caught a break.
Aside from coronavirus-driven shutdowns and construction delays, the mall has been slammed by a series of one-off events, such as when a decorative helicopter figurine came crashing down into a pool full of children back in February. In December, a 24-year-old Air National Guard member died snowboarding after hitting his head in a freak accident at Big Snow American Dream.
(Excerpt) Read more at nypost.com ...
So let me get this straight - this mall just happened to open in one of the worst states to do business in, right when there was a downturn on malls in general. Who was the idiot that green-lit this monstrosity?
It was probably built for the tax subsidies.
Thousands of cases of Bud Light will square things away.Fer SURE!
I’ve driven by it a few times. Seems to be in a horrible location
“Seems to be in a horrible location”
Yes, it’s in New Jersey.
Anyone who built a shopping mall after about 2000 deserves to go broke.
It is NJ, so one should not be surprised that the project began (on paper at least) in 1994.
Maybe they need some of those hamster tubes for humans like McWhopper has out front? Or did those go out of style with the introduction of the big Chinese cootie?
And zero mention of the 245 million loss that is due to pilfering. You know it’s a huge amount of it.
The "mall" is for tourists from Manhattan New York. The developers of the "mall" have the ultimate goal of building casinos.
https://www.njonlinegambling.com/american-dream-meadowlands-brings-casino-talk/
From 1 day ago:
https://www.bondbuyer.com/news/municipal-bond-funded-american-dream-mall-reports-more-red-ink
The developers are hoping to turn it into a gambling location closer to Atlantic City and the local perps hope to turn it into just as much of a dump as Atlantic City. They had a shooting inside the "American Dream" Mall in 2022. Someone got "dissed" in the food court and started shooting. Some of the Propaganda Media claimed it was in the parking lot, as though witnesses and mobile phone video wouldn't expose the Propaganda Media as liars.
malls are failing, but also what hurt them was the plandemic and the state’s ignorant restrictions during it no doubt
The reason the American Dream mall is a business nightmare is because they charge shoppers for parking. New Jersey shoppers, with rare exceptions like Jersey City’s Newport Mall, do not expect or need to pay for shopping mall parking. American dream is a hybrid of a shopping mall and amusement park, and charging for parking will guarantee the failure of the shopping mall.
Nickelodeon Universe Theme Park, where Satan rules. That’s enough to keep me from ever going there.
I believe it was the only indoor mall under development in the U.S. at the time it was being built. Traditional indoor malls had been replaced by the “big box” retail center model years before this monstrosity was built.
I agree…..most I know avoid malls .
…
That being said, I went there not too long ago and to be honest, it was a really great place and everyone, when I was there, was well behaved. Which was pleasantly surprising for North Jersey.
Old picture. Doesn’t have those ridiculous colors anymore.
I just found out in 2020 they put up Mall Of America as collateral for the NJ mall.
MOA lost 64M last year.
Based on the last time I was at MOA, it will be bankrupt in 10 years.
That is assuming the gangs don’t destroy it first.
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