Blueprint for the Future
Live! and Kicking
The dust hasn’t settled from NexGen’s groundbreaking when The Cordish companies broke ground for Phase III of Atlantic City Outlets – The Walk, a $15 million development that will expand the retail outlet sector by 46,000 square feet along the foot of the Atlantic City Expressway.
In Phase IV of the project, Chairman
“Together with the state of
It’s good timing for
In September, Taubman Centers Inc. announced it would no longer provide financial support for the Pier Shops at Caesars, an oceanfront shopping mall with luxury brands like Louis Vuitton, Gucci and Swarovski. According to the Philadelphia Inquirer, the Michigan-based company said it was no longer able to make payments on a $135 million mortgage. Taubman said it would continue to manage the 282,000-square-foot shopping center if its lender agreed.
The Walk, on the other hand, seems to be riding out the recession just fine, with reported overall increases of 5 percent to 10 percent at is 105 outlet stores.
Asked how The Walk tenants can thrive despite the economy, Cordish told the Inquirer, “We’ve become a regional shopping center for locals. People from an hour away are coming to do their shopping here.”