The American mall is in trouble, but the Mall at Prince George’s is not.
The mall, which opened in 1959, recently added tenants such as H&M and is also adding big name brands such as ULTA Beauty, Macy’s Backstage and Designer Shoe Warehouse.
Here are a few reasons why it’s escaping the fate of other malls:
Competition: Many of the malls that are in trouble face a newer competitor down the road. The nearest mall is Beltway Plaza Mall in Greenbelt, which has a much different market segment. Other malls in Wheaton and Bowie are a pretty far drive.
Anchor tenants: Many failing malls have lost an anchor tenant. But Prince George’s still has Macy’s, Target and J.C. Penney as main anchors, and Old Navy, T.J. Maxx, Ross Dress for Less and Marshall’s as secondary anchors.
Location: The most troubled malls are in suburban locations. But Hyattsville is not exactly suburban. The Mall at Prince George’s is across the street from a transit station and surrounded by apartments, including new high-end rentals, guaranteeing foot traffic.
The Mall at Prince George’s will need to continue innovating in order to face the threat posed by online shopping. Even with the renovations, it still hews pretty closely to the older model of giant parking lots, without the open-air plazas and promenades that some redesigned shopping centers now feature.
But for now, it’s booming.