FEATURES Table 1-1
Average Annual Mall Sales Per Square Foot by Metro Market (1996-2012) Dallas/
Year 1996 $ 365 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
367 377 383 387 377 371 377 394 413 424 428 407 377 399 425 455
National Los Angeles Denver $ 354 354 367 383 398 402 404 419 449 479 503 499 465 411 442 473 505
$ 430 400 425 441 456 428 401 393 403 432 441 476 440 413 460 502 543
Fort Worth Washington D.C. Miami Atlanta Minneapolis Detroit Chicago New York $ 319 328 345 341 350 328 318 318 332 349 348 361 351 329 345 371 402
$ 502 510 535 564 580 559 536 562 590 612 626 626 604 565 595 597 627
$ 428 433 445 439 453 438 406 419 472 535 575 596 575 523 576 658 757
$ 389 392 412 419 406 376 365 378 405 435 439 447 422 385 421 458 491
Note: Shaded boxes represent historic highs in sales productvity level for each metro market since 1996. Source: ICSC Research
Table 1-2
Average Annual Mall Sales Productivity Growth by Metro Market (1997-2012) Dallas/
Year 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Average Sales Productivity Growth
Source: ICSC Research
National Los Angeles Denver 0.6 % 2.6 1.5 1.1
6.2 3.7 3.4
-2.5 -1.8 1.7 4.4 4.9 2.7 1.0
-5.1 -7.2 5.6 6.7 6.9
1.0 Source: ICSC Research
national mall sales in the sample as of December 2012.5 In addition to Miami, Los Angeles (+1.9%), New York
(+1.6%) and Chicago (+1.5%) all experienced strong average growth since 1997, which in part can be attributed to those markets being major financial hubs, tourist destinations or gateway cities.6
Research by Georgetown University geographers
Marie Price and Lisa Benton-Short found, “gateway cities have typically double the number of foreign-born populations versus the national average and are generally more resilient economically.”7 Gateway cities promote tourism and can be aided by the infusion of tourist dollars.
5 The 10 listed metro markets represent 29.5% of total non-anchor mall sales in the 2012 mall sample. 6 A city in which the airport or seaport serves as a major entry point to a country by being the primary arrival and departure point. 7 Price and Benton-Short, cited by John Bell, “Gateway Cities,” Mortgage Banking, Vol. 69 (Issue 1), pp. 130-135.
INTERNATIONAL COUNCIL OF SHOPPING CENTERS 2 2 RETAIL PROPERTY INSIGHTS VOL. 20, NO. 1, 2013
-0.6 -6.8
-11.6 7.5 6.9 6.7
1.9
-6.1 -6.3 -1.9 2.4 7.3 2.2 8.0
-0.1 % -6.9 % 2.9 % 3.7 4.4 3.8 0.9 0.6 3.6 7.1 6.8 4.9
5.3
-1.1 2.4
-6.1 -3.3 0.3 4.2 5.2
-0.4 3.7
-7.6 -6.2 11.2 9.1 8.3
1.0
-2.8 -6.2 4.8 7.6 8.5
1.0
Fort Worth Washington D.C. 1.5 % 4.9 5.5 2.9
-3.6 -4.2 4.9 5.0 3.7 2.3 0.0
-3.4 -6.6 5.3 0.5 4.9
1.2 Miami
-1.2 3.2
-3.5 -7.2 3.3
12.7 13.3 7.5 3.6
-3.6 -9.0 10.2 14.2 15.1
2.9
1.2 % 0.9 % 2.7
5.2 1.6
-3.2 -7.3 -3.0 3.6 7.0 7.4 1.0 1.9
-5.7 -8.6 9.1 9.0 7.0
1.1
Atlanta Minneapolis Detroit Chicago New York 5.0 % 0.1 % 2.2 % 0.5 % 4.8 3.0 0.0
3.4
-6.4 -2.7 -0.7 2.6 3.0 3.2
-0.3 -4.9 -9.2 4.8 6.6 6.4
0.5
-2.8 -3.9 -2.4 -5.5 -3.2 -0.1 -1.1 -6.4 -2.4 -7.7 -6.0 4.3 7.7 2.8
-1.8
4.3 5.6 3.1
-1.1 -2.1 -0.6 1.5 1.5 3.6 2.5
-4.0 -6.8 6.9 6.3 8.0
1.5
2.2 1.8 0.8 0.2 0.1 1.7 4.4 3.1 3.4 3.4
-4.3 -7.7 6.5 8.9 5.1
1.6
Source: ICSC Research Note: Shaded boxes represent historic highs in sales productivity level for each market since 1996.
$ 338 355 372 383 383 359 349 346 355 366 378 377 358 326 341 364 387
$ 432 433 448 435 418 408 385 373 373 369 345 337 311 292 305 328 337
$ 342 349 364 385 396 392 384 381 387 393 407 418 401 373 399 424 458
$ 438 440 449 458 461 462 462 470 491 506 523 541 518 478 509 554 582
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45