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60-464: Sarasota Square Mall , formerly Westfield Shoppingtown Sarasota Square and Westfield Sarasota Square , is a shopping mall in Sarasota, Florida . Its anchor stores are Costco and JCPenney Arlen Realty and Development Corporation , a predecessor of CBL & Associates Properties , announced Sarasota Square Mall in 1976. The mall was planned to be anchored by Maas Brothers and JCPenney ,
120-492: A few jurisdictions, notably California , have expanded the right of freedom of speech to ensure that speakers will be able to reach consumers who prefer to shop, eat, and socialize within the boundaries of privately owned malls. The Supreme Court decision Pruneyard Shopping Center v. Robins was issued on 9 June 1980 which affirmed the decision of the California Supreme Court in a case that arose out of
180-756: A free speech dispute between the Pruneyard Shopping Center in Campbell, California, and several local high school students. This is a list of the world's largest shopping malls based on their gross leasable area (GLA), with a GLA of at least 250,000 m (2,700,000 sq ft). Some wholesale market complexes also function as shopping malls in that they contain retail space which operate as stores in normal malls do but also act as producer vendor outlets that can take large orders for export. Unibail-Rodamco-Westfield Unibail-Rodamco-Westfield SE (previously Unibail-Rodamco SE )
240-570: A hotel, luxury condominiums, and office space and sits atop a block-long base containing an eight-level atrium-style retail mall that fronts on the Magnificent Mile . Vertical malls are common in densely populated conurbations in East and Southeast Asia. Hong Kong in particular has numerous examples such as Times Square , Dragon Centre , Apm , Langham Place , ISQUARE , Hysan Place and The One . A vertical mall may also be built where
300-493: A large number of new malls had been built near major cities, notably the MEGA malls such as Mega Belaya Dacha mall near Moscow . In large part they were financed by international investors and were popular with shoppers from the emerging middle class. A shopping property management firm is a company that specializes in owning and managing shopping malls. Most shopping property management firms own at least 20 malls. Some firms use
360-534: A major competitor to shopping malls. In the United States , online shopping has accounted for an increasing share of total retail sales. In 2013, roughly 200 out of 1,300 malls across the United States were going out of business. To combat this trend, developers have converted malls into other uses including attractions such as parks, movie theaters, gyms, and even fishing lakes. In the United States,
420-955: A mall the center reverts to its own name and branding, such as the Ashley Centre in Epsom . Similarly, following its rebranding from Capital Shopping Centres, intu Properties renamed many of its centres to "intu (name/location)" (such as intu Lakeside ); again, malls removed from the network revert to their own brand (see for instance The Glades in Bromley ). One controversial aspect of malls has been their effective displacement of traditional main streets or high streets . Some consumers prefer malls, with their parking garages, controlled environments, and private security guards , over central business districts (CBD) or downtowns , which frequently have limited parking, poor maintenance, outdoor weather, and limited police coverage. In response,
480-806: A popular way to build retail across the world. Gruen himself came to abhor this effect of his new design; he decried the creation of enormous "land wasting seas of parking" and the spread of suburban sprawl. Even though malls mostly appeared in suburban areas in the U.S., some U.S. cities facilitated the construction of enclosed malls downtown as an effort to revive city centers and allow them to compete effectively with suburban malls. Examples included Main Place Mall in Buffalo (1969) and The Gallery (1977, now Fashion District Philadelphia ) in Philadelphia. Other cities created open-air pedestrian malls . In
540-567: A portfolio primarily consisting of shopping centres and other retail spaces across 14 European countries, along with some office property in France and the Netherlands, acquiring smaller European rivals in the process. On April 10, 2007, Rodamco Europe announced an agreement to conduct a merger of equals with Unibail to create the largest publicly traded property company in Europe. The merger
600-549: A similar naming scheme for most of their malls; for example, Mills Corporation puts "Mills" in most of its mall names and SM Prime Holdings of the Philippines puts "SM" in all of its malls, as well as anchor stores such as The SM Store, SM Appliance Center, SM Hypermarket, SM Cinema, and SM Supermarket. In the UK, The Mall Fund changes the name of any center it buys to "The Mall (location)" , using its pink-M logo; when it sells
660-610: A store at Sarasota Square on the additional anchor space on the north side, which opened on October 24, 1979. J. Byrons closed in 1985, and its space was converted into the Trellis Garden Food Court which opened in March 1986. An expansion from the food court east began construction in 1986 which included a fourth anchor, Parisian , which was the store's second location outside its home state of Alabama . Parisian opened on November 1, 1989. In 1991, Maas Brothers
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#1732801761227720-624: A year before the Great Recession , no new malls were built in America, for the first time in 50 years. City Creek Center Mall in Salt Lake City , which opened in March 2012, was the first to be built since the recession. Malls began to lose consumers to open-air power centers and lifestyle centers during the 1990s, as consumers preferred to park right in front of and walk directly into big-box stores with lower prices and without
780-579: Is a French multinational commercial real estate company headquartered in Paris , France . Its history originates with the formation of two separate shopping centre operators, Unibail (founded in France in 1968) and Rodamco Europe (founded in the Netherlands in 1999), which merged in 2007 and became a societas Europaea in 2009. The company acquired Australian shopping centre operator Westfield Corporation in June 2018. As of 2024, Unibail-Rodamco-Westfield
840-1161: Is a large indoor shopping center , usually anchored by department stores . The term mall originally meant a pedestrian promenade with shops along it, but in the late 1960s, it began to be used as a generic term for the large enclosed shopping centers that were becoming increasingly commonplace. In the United Kingdom and other countries, shopping malls may be called shopping centres . In recent decades, malls have declined considerably in North America , particularly in subprime locations, and some have closed and become so-called " dead malls ". Successful exceptions have added entertainment and experiential features, added big-box stores as anchors, or converted to other specialized shopping center formats such as power centers , lifestyle centers , factory outlet centers, and festival marketplaces . In Canada, shopping centres have frequently been replaced with mixed-use high-rise communities. In many European countries and Asian countries , shopping malls continue to grow and thrive. In
900-674: Is listed in several indexes, including: Unibail-Rodamco-Westfield is rated A by Standard & Poor’s and Fitch Ratings. In 2015, Standard Ethics Aei has given a rating to Unibail-Rodamco-Westfield in order to include it in its Standard Ethics French Index. Unibail-Rodamco-Westfield owns 87 shopping centers (as of April 2021) in the main cities of the countries where it operates, 97% of which attract more than 6 million visitors per year. In terms of Office Real Estate, Unibail-Rodamco invests in and develops efficient buildings with more than 10,000 square metres of usable retail space in Paris, such as
960-427: Is still operating. In July 2019, Unibail-Rodamco-Westfield announced the shopping center would be renamed "Sarasota Square", dropping Westfield from its name and returning it to its original name before Westfield Group's acquisition of the property. In August 2020, the mall's noteholder, U.S. Bank National Association, notified Unibail-Rodamco-Westfield of proceeding with foreclosure action. Unibail-Rodamco-Westfield
1020-761: Is the largest commercial real estate company in Europe, and is a component of the Australian ASX 50 , Euro Stoxx 50 stock market index , as well as the French CAC40 . Its portfolio consists of retail property, office buildings, and convention centers within Europe and North America. Many of its shopping centres use the Westfield brand launched by Westfield Group in 1960 and shared with Scentre Group for properties in Australia and New Zealand since 2014. Retail properties owned by Unibail-Rodamco before
1080-524: The overhead of traditional malls (i.e., long enclosed corridors). Another issue was that the growth-crazed American commercial real estate industry had simply built too many nice places to shop—far more than could be reasonably justified by the actual growth of the American population, retail sales, or any other economic indicator. The number of American shopping centers exploded from 4,500 in 1960 to 70,000 by 1986 to just under 108,000 by 2010. Thus,
1140-610: The 600,000 square foot Highland Mall will be a campus for Austin Community College . In France , the So Ouest mall outside of Paris was designed to resemble elegant, Louis XV -style apartments and includes 17,000 square metres (180,000 sq ft) of green space. The Australian mall company Westfield launched an online mall (and later a mobile app) with 150 stores, 3,000 brands and over 1 million products. The COVID-19 pandemic also significantly impacted
1200-647: The American market in 2022, the United States had an average of 24.5 square feet of retail space per capita (in contrast to 4.5 square feet per capita in Europe). In 2019, The Shops & Restaurants at Hudson Yards opened as an upscale mall in New York City with "a ' Fifth Avenue ' mix of shops", such as H&M , Zara , and Sephora below them. This is one of the first two malls built recently, along with American Dream in which both opened in 2019 since City Creek Center . Online shopping has also emerged as
1260-595: The Burdines name was officially dropped and the stores were fully merged into Macy's. In 1995, it was reported that Parisian had planned to sell its store to Dillard's . According to the plan, if Dillard's failed to acquire the Parisian store, it would instead build its own store adjacent to JCPenney, and the Parisian site would be sold to Jacobson's . Ultimately, Parisian closed in January 1996, and Dillard's opened in
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#17328017612271320-677: The Gruen-designed Southdale Center , which opened in the Twin Cities suburb of Edina, Minnesota , United States in October 1956. For pioneering the soon-to-be enormously popular mall concept in this form, Gruen has been called the "most influential architect of the twentieth century" by Malcolm Gladwell . The first retail complex to be promoted as a "mall" was Paramus, New Jersey 's Bergen Mall , which opened with an open-air format on November 14, 1957, and
1380-670: The International Council of Shopping Centers, is a shopping mall with over 800,000 sq ft (74,000 m ) of gross leasable area, three or more anchors, mass merchant, more variety, fashion apparel , and serves as the dominant shopping venue for the region (25 miles or 40 km) in which it is located. Not classified as malls are smaller formats such as strip malls and neighborhood shopping centers , and specialized formats such as power centers , festival marketplaces , and outlet centers . Shopping centers in general may have their origins in public markets and, in
1440-727: The Middle East, covered bazaars . In 1798, the first covered shopping passage was built in Paris, the Passage du Caire . The Burlington Arcade in London was opened in 1819. The Arcade in Providence, Rhode Island , built in 1828, claims to be the first shopping arcade in the United States. Western European cities in particular built many arcade-style shopping centers. The Galleria Vittorio Emanuele II in Milan, which opened in 1877,
1500-464: The United States after World War II , with larger open-air shopping centers anchored by major department stores, such as the 550,000-square-foot (51,000 m ) Broadway-Crenshaw Center in Los Angeles , built in 1947 and anchored by a five-story Broadway and a May Company California . In the late 1950s and into the 1960s, the term "shopping mall" was first used, but in the original sense of
1560-406: The United States were considered to be "dying" (40% or higher vacancy rates) and nearly one-fifth of all malls had vacancy rates considered "troubling" (10% or higher). Some real estate experts say the "fundamental problem" is a glut of malls in many parts of the country creating a market that is "extremely over-retailed". By the time shopping mall operator Unibail-Rodamco-Westfield decided to exit
1620-432: The United States, Persian Gulf countries , and India, the term shopping mall is usually applied to enclosed retail structures (and is generally abbreviated to simply mall ), while shopping center usually refers to open-air retail complexes; both types of facilities usually have large parking lots , face major traffic arterials , and have few pedestrian connections to surrounding neighborhoods. Outside of North America,
1680-508: The United States, developers such as A. Alfred Taubman of Taubman Centers extended the concept further in 1980, with terrazzo tiles at the Mall at Short Hills in New Jersey , indoor fountains, and two levels allowing a shopper to make a circuit of all the stores. Taubman believed carpeting increased friction, slowing down customers, so it was removed. Fading daylight through glass panels
1740-646: The arcade within CNIT – and substantial office properties in Paris and La Défense – including the Tour Ariane and the Paris Expo group of convention centres. Rodamco Europe formed in 1999 when Rodamco, a property investment fund set up by the Dutch asset management group Robeco in 1979, broke up into various independent listed companies covering different parts of the world. Rodamco Europe subsequently collected
1800-424: The basement dining rooms. A common feature of shopping malls is a food court: this typically consists of a number of fast food vendors of various types, surrounding a shared seating area. When the shopping mall format was developed by Victor Gruen in the mid-1950s, signing larger department stores was necessary for the financial stability of the projects, and to draw retail traffic that would result in visits to
1860-828: The company to five years of growth in spite of tough economic conditions. In May 2015, Unibail revealed it had signed an agreement with the Canada Pension Plan Investment Board to sell its 46.1% stake in German shopping mall operator MFI AG for €394 million. In December 2017, Unibail took over Westfield Corporation , which operated 35 shopping centres in the US and the UK, for a reported price of US$ 24.8 billion. The shopping centres in Australia and New Zealand branded as Westfield and now held by Scentre Group were not acquired by Unibail. The deal
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1920-421: The construction of any more. Out-of-town shopping developments in the UK are now focused on retail parks , which consist of groups of warehouse style shops with individual entrances from outdoors. Planning policy prioritizes the development of existing town centres, although with patchy success. Westfield London ( White City ) is the largest shopping centre in Europe. In Russia , on the other hand, as of 2013
1980-652: The equivalent of a U.S. mall, are located in city centres, usually found in old and historic shopping districts and surrounded by subsidiary open air shopping streets. Large examples include Westquay in Southampton ; Manchester Arndale ; Bullring Birmingham ; Liverpool One ; Trinity Leeds ; Buchanan Galleries in Glasgow ; St James Quarter in Edinburgh ; and Eldon Square in Newcastle upon Tyne . In addition to
2040-504: The former Parisian building on March 2, 1996. Westfield Group acquired the mall in 2003 from then-owners Coyote Group, and renamed it Westfield Shoppingtown Sarasota Square. The "Shoppingtown" was dropped in June 2005. In 2006, Westfield refurbished both the interior and exterior of the mall. A new 12-screen AMC theater was built between Dillard's and JCPenney along with a new adjoining food court. The theater opened on December 20, 2006. The two previous six-screen theaters were closed and
2100-815: The geography prevents building outward or there are other restrictions on construction, such as historic buildings or significant archeology . The Darwin Shopping Centre and associated malls in Shrewsbury , UK, are built on the side of a steep hill, around the former town walls; consequently the shopping center is split over seven floors vertically – two locations horizontally – connected by elevators, escalators and bridge walkways. Some establishments incorporate such designs into their layout, such as Shrewsbury's former McDonald's , split into four stories with multiple mezzanines which featured medieval castle vaults – complete with arrowslits – in
2160-851: The inner city shopping centres, large UK conurbations will also have large out-of-town "regional malls" such as the Metrocentre in Gateshead ; Meadowhall Centre , Sheffield serving South Yorkshire ; the Trafford Centre in Greater Manchester ; White Rose Centre in Leeds ; the Merry Hill Centre near Dudley ; and Bluewater in Kent . These centres were built in the 1980s and 1990s, but planning regulations prohibit
2220-594: The late 1960s. The enclosed shopping center, which would eventually be known as the shopping mall, did not appear in mainstream until the mid-1950s. One of the earliest examples was the Valley Fair Shopping Center in Appleton, Wisconsin , which opened on March 10, 1955. Valley Fair featured a number of modern features including central heating and cooling, a large outdoor parking area, semi-detached anchor stores, and restaurants. Later that year
2280-462: The latter of which would relocate from nearby Southgate Shopping Plaza (which was an outdoor strip mall at the time). The mall would also include J. Byrons as a smaller anchor as well as a six-screen movie theater. Additional space was left on the north side for an additional large anchor. Maas Brothers, J. Byrons, and the movie theater opened August 4, 1977. Sarasota Square officially held its grand opening on September 28, 1977, and JCPenney opened
2340-547: The mall, Torburn Partners, proposed in May 2023 to redevelop the site by demolishing the majority of the mall except for the JCPenney and Costco anchor stores and planning 1,200 apartments on the site with build-out expected within five to seven years. The site will also have mixed retail in place of the existing enclosed building. AMC Theaters closed on October 31, 2024 Shopping mall A shopping mall (or simply mall )
2400-571: The mall. The challenge of this type of mall is to overcome the natural tendency of shoppers to move horizontally and encourage shoppers to move upwards and downwards. The concept of a vertical mall was originally conceived in the late 1960s by the Mafco Company, former shopping center development division of Marshall Field & Co. The Water Tower Place skyscraper in Chicago , Illinois was built in 1975 by Urban Retail Properties. It contains
2460-469: The merger carry the Westfield name. As of July 2022, the group owned 87 shopping centres. Unibail was founded in 1968 as a finance-leasing unit by a company called Worms & Cie . In 1991, Unibail started focusing on the property investment sector, and phased out involvement in lease financing. It built a property portfolio of close to 30 shopping centres across France – including the Forum des Halles and
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2520-618: The name of the complex (such as Toronto Eaton Centre ). The term mall is less-commonly a part of the name of the complex. The International Council of Shopping Centers , based in New York City , classifies two types of shopping centers as malls: regional malls and superregional malls. A regional mall, per the International Council of Shopping Centers, is a shopping mall with 400,000 sq ft (37,000 m ) to 800,000 sq ft (74,000 m ) gross leasable area with at least two anchor stores . A super-regional mall, per
2580-499: The number of dead malls increased significantly in the early 21st century. The economic health of malls across the United States has been in decline, as revealed by high vacancy rates. From 2006 to 2010, the percentage of malls that are considered to be "dying" by real estate experts (have a vacancy rate of at least 40%), unhealthy (20–40%), or in trouble (10–20%) all increased greatly, and these high vacancy rates only partially decreased from 2010 to 2014. In 2014, nearly 3% of all malls in
2640-673: The previous Trellis Garden Food Court was remodeled into more store space. Dillard's closed its Westfield Sarasota Square store, along with its regionally close DeSoto Square store in Bradenton on December 5, 2009. The Sarasota Square store was demolished and replaced with a Costco , which opened on August 17, 2012. In 2015, Sears Holdings spun off 235 of its properties, including the Sears at Westfield Sarasota Square, into Seritage Growth Properties. In 2017, Macy's and Sears announced their stores at Sarasota Square would close. Macy's closure
2700-432: The prior year. In the United Kingdom and Ireland, both open-air and enclosed centers are commonly referred to as shopping centres . Mall primarily refers to either a shopping mall – a place where a collection of shops all adjoin a pedestrian area – or an exclusively pedestrianized street that allows shoppers to walk without interference from vehicle traffic. The majority of British enclosed shopping centres,
2760-403: The retail industry. Government regulations temporarily closed malls, increased entrance controls, and imposed strict public sanitation requirements. High land prices in populous cities have led to the concept of the "vertical mall", in which space allocated to retail is configured over a number of stories accessible by elevators and/or escalators (usually both) linking the different levels of
2820-486: The same day. JCPenney was located on the south side of the mall, and Maas Brothers and J. Byrons located across from each other in the center. The movie theater was located within the mall on the northeast corner. A second six-screen theater opened in 1978 in a separate building on the northeast corner of the mall property, giving the mall a total of 12 screens. Other early tenants in the mall included Camelot Music , Kinney Shoes , and Morrison's Cafeteria . Sears built
2880-417: The smaller stores in the mall as well. These larger stores are termed anchor stores or draw tenants. In physical configuration, anchor stores are normally located as far from each other as possible to maximize the amount of traffic from one anchor to another. There are a reported 222 malls in Europe. In 2014, these malls had combined sales of US$ 12.47 billion. This represented a 10% bump in revenues from
2940-487: The terms shopping precinct and shopping arcade are also used. In the UK, such complexes are considered shopping centres though shopping centre covers many more sizes and types of centers than the North American mall . Other countries follow UK usage. In Canadian English , and often in Australia and New Zealand, the term mall may be used informally but shopping center or merely center will feature in
3000-681: The word "mall", meaning a pedestrian promenade in the U.S., or in U.K. usage, a "shopping precinct". Early downtown pedestrianized malls included the Kalamazoo Mall (the first, in 1959), "Shoppers' See-Way" in Toledo , Lincoln Road Mall in Miami Beach , Santa Monica Mall (1965). Although Bergen Mall opened in 1957 using the name "mall" and inspired other suburban shopping centers to rebrand themselves as malls, these types of properties were still referred to as "shopping centers" until
3060-554: The world's first fully enclosed shopping mall was opened in Luleå , in northern Sweden (architect: Ralph Erskine ) and was named Shopping ; the region now claims the highest shopping center density in Europe. The idea of a regionally-sized, fully enclosed shopping complex was pioneered in 1956 by the Austrian-born architect and American immigrant Victor Gruen . This new generation of regional-size shopping centers began with
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#17328017612273120-507: Was completed in June 2018, and the shopping centres owned by Unibail-Rodamco before the merger had their names modified to have the Westfield brand, with 10 flagships starting in September 2019. In November 2020, Colin Dyer resigned as supervisory-board chairman after a shareholder meeting rejected the board's proposal to raise 3.5 billion euros ($ 4.15 billion). Dyer remained on the board but
3180-437: Was confirmed on June 21, 2007, after Unibail announced the acquisition of 80% of Rodamco's shares, making its offer for the remainder unconditional. The merged entity took effect as a société anonyme under the new name Unibail-Rodamco on June 25, 2007. On June 1, 2011, Unibail-Rodamco hired former Fnac CEO Christophe Cuvillier as the new COO. In collaboration with CEO and chairman of the board Guillaume Poitrinal , he led
3240-518: Was larger than its predecessors, and inspired the use of the term "galleria" for many other shopping arcades and malls. In the mid-20th century, with the rise of the suburb and automobile culture in the United States, a new style of shopping center was created away from downtowns . Early shopping centers designed for the automobile include Market Square , Lake Forest, Illinois (1916), and Country Club Plaza , Kansas City, Missouri (1924). The suburban shopping center concept evolved further in
3300-768: Was later enclosed in 1973. Aside from Southdale Center , significant early enclosed shopping malls were Harundale Mall (1958) in Glen Burnie, Maryland, Big Town Mall (1959) in Mesquite, Texas, Chris-Town Mall (1961) in Phoenix, Arizona, and Randhurst Center (1962) in Mount Prospect, Illinois. Other early malls moved retailing away from the dense, commercial downtowns into the largely residential suburbs. This formula (enclosed space with stores attached, away from downtown, and accessible only by automobile) became
3360-529: Was merged with Burdines by the parent company of the two stores. Despite the fact that Burdines operated a store nearby at Southgate , the company retained its store at Sarasota Square. The Maas Brothers store was officially rebranded as Burdines on October 20, 1991. Along with the rest of the Burdines chain, the Sarasota Square store was renamed Burdines- Macy's on January 30, 2004, as the brands were merged by their parent company. On March 6, 2005,
3420-536: Was notified on May 5, 2020, of its default to the mortgage-backed security loan associated with the property. The Florida Department of Health (FDOH) utilized the mall as a county-operated COVID-19 vaccination clinic from January to June 2021. The Department of Health in Sarasota County stated they delivered more than 150,000 doses of the Moderna vaccine at the vaccination clinic. The current owner of
3480-405: Was part of a plan to close 68 stores nationwide, with Sarasota Square's store closing permanently on March 26, 2017. Sears closure was part of a plan to close 20 additional stores nationwide after announcing 72 closures on June 6, 2017. Sears closed permanently on September 18, 2017. On July 31, 2020, JCPenney put 21 stores up for sale, including the JCPenney at Sarasota Square. As of 2023, JCPenney
3540-403: Was replaced as chairman by former Unibail CEO Leon Bressler, one of a consortium of shareholders and investors who had opposed the capital increase and other proposed strategies. In January 2021, Jean-Marie Tritant was appointed chairman of the management board and chief executive officer of the group. The following are the company shareholders as of December 2021: Unibail-Rodamco-Westfield
3600-426: Was supplemented by gradually increased electric lighting, making it seem like the afternoon was lasting longer, which encouraged shoppers to linger. In the United States, in the mid-1990s, malls were still being constructed at a rate of 140 a year. But in 2001, a PricewaterhouseCoopers study found that underperforming and vacant malls, known as "greyfield" and "dead mall" estates, were an emerging problem. In 2007,
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