Addison wrote:Proquest20 wrote:tamtagon wrote:Typical mall stores are fading, it's good for North Park to have the ones that are still around.
Other malls like Town East, Parks at Arlington or Stonebriar are doing well for what they are.
It's pretty interesting though that the only real upscale mall in all of Texas is in Houston's Galleria. It would be so nice if Dallas had a mall of that scale, but it doesn't seem like NorthPark will be expanding to meet that standard any time soon. I don't mention Highland Park Village because it's essentially what River Oaks District is to the Houston Galleria, although it's the stronger luxury shopping destination in our situation.
Maybe Dallas could sustain a second Dior. They have two in Houston and two in Atlanta, it would be cool if NorthPark got a location as well. Same with Louboutin, considering they operate a boutique in Nordstrom and had a very successful pop up inside of Neiman Marcus.
I just wonder why they chose Claires and not something with broader appeal like Banter.
NorthPark is a family-owned + operated mall, and they're locally based.
So part of the reason they're likely not expanding is politics (Neiman Marcus wants to keep out their competitors and artificially restricting prime space to accommodate them helps), and also because they don't have the cash flows to fund construction unlike the big REITs.
But most importantly, I think the family has expressed they prefer that NorthPark keeps its more "intimate" feel.
As far as Banter, funny enough, they just opened a store in the Galleria.
Yup, and it looks nicer than any Claires I’ve seen. It also has a broader range of appeal, whereas Claires really only has a child/teen demographic.
I think having other competitors fail in Dallas (Saks Fifth Avenue, Barneys New York) would also make it harder for them to expand if they were to add a fifth anchor.
It’ll just be interesting to see what happens to NorthPark if they never add a mixed-use component to the property. Even Willow Bend is planning on adding hotels and office space.