By Brandon Brown | Phoenix Business Journal
Some metro Phoenix shopping malls, and many around the country, are trying to find ways to simply survive. Scottsdale Fashion Square is bucking that trend by thriving.
With an investment of more than $140 million into the shopping center from its parent company, Santa Monica, California-based Macerich, Scottsdale Fashion Square has become one of the best performing malls in the U.S. by making a play for affluent customers with its new luxury wing.
“Retail’s not dying. The bad retail is going to die,” said Michael Guerin, Macerich’s senior vice president of leasing. “The retail where you don’t have robust market dynamics, or you don’t have a motivated landlord, or you don’t have motivated retailers, that will die.”