More Compact Lifestyle Centers Have Cost Advantage Over Malls

Lifestyle center require less land, and typically have higher sales that comparable malls.
January 5, 2004, 2pm PST | Chris Steins | @urbaninsight
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"The rising cost of land in Metro Detroit and changing shoppers’ preferences are reshaping the next generation of stores as they follow people to the outlying suburbs, according to a report by Bieri & Associates Inc., a Detroit-based retail consulting firm. Retailers such as Banana Republic, Williams-Sonoma and Ann Taylor often prefer to be in outdoor settings where lines of shops and eateries are set along a winding Main Street, said Jim Bieri, president of the company that published the study. Lifestyle centers typically take up less than half the land of a traditional mall. In turn, the centers provide residents a gathering place and communities a sense of identity. Commerce Township and Wixom are the latest Metro Detroit communities to plan lifestyle centers. Rochester Hills and Novi already have them."

Thanks to Richard Layman

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Published on Friday, January 2, 2004 in The Detroit News
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