By Jonathan O'Connell, Tuesday, September 3, 11:31 AM
The list of malls in the Washington area that are either being torn down or remade into something completely different is steadily growing.
Landover Mall has been demolished (only a Sears remains). Springfield Mall has also been demolished and is being turned into a more modern shopping plaza with a focus on restaurants. The owners of White Flint Mall have begun making changes and would like to make more if not for a lawsuit from Lord & Taylor, which doesn’t much like the plans. Landmark Mall is primed to be remade into a town center.As many of the above examples demonstrate, turning a mall into something else isn’t easy. Which suits Tysons Galleria — home to Cartier, Emporio Armani, Gucci, Hugo Boss and Louis Vuitton — just fine.
While other malls are dying on the vine, Tysons Galleria is having its best year ever. Its average sales per square foot for the first half of the year is $973, according to the ratings agency Morningstar, more than double the industry average for last year of around $450.
Not only is the mall on pace to crush its average sales from last year ($868) but its sales from 2007, before the economy collapsed ($848). It is also beating what Morningstar estimates are the average sales per square foot at the Fashion Center at Pentagon City ($950), Tysons Corner Center ($835), Fair Oaks Mall ($615) and Westfield-Montgomery Mall ($600).
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http://www.washingtonpost.com/business/capitalbusiness/tysons-galleria-enjoying-its-best-year-ever-as-other-malls-die/2013/09/03/e5bd5380-1183-11e3-85b6-d27422650fd5_story.html