As brick-and-mortar shopping centers steadily lost market share to online competitors, the Ghermezian family behind three of the four biggest malls in North America built a thriving business by infusing their properties with heavy doses of entertainment -- a nod to the prevailing wisdom that younger people tend to prefer experiences to material goods.
Their company, Triple Five Group, offered attractions worthy of the best theme parks. In a 2016 interview with Bloomberg Businessweek, Don Ghermezian, who oversees the family’s American Dream mall in New Jersey, called the approach “internet-proof.”
They weren’t betting on a pandemic. . . . more