King of Prussia Mall is the place to be for retailers looking to make a statement and get people to take notice, particularly for foreign retailers, writes Suzette Parmley for Philly.com.
KoP Mall is one of the top locations for retailers, both domestic and international. Its location, variety of consumers and local demographics provide a real insight for businesses for their current and future potential. But this success requires constant reinvention.
“There are few places that are of scale, appropriately located, have really invested in what people like to do today,” said Adam Ducker, managing director at RCLCO, a real estate advisory firm in Washington. “This mall has a status where for a major retailer, you have to be here.”
The success is even more extraordinary considering that many other mall are either shuttered or in the process of winding down. In contrast, KoP Mall has more than 450 stores and restaurants with many more queuing at the door.
In fact, the Mall’s vacancy rate, even after the recent $250 million expansion, remains at under two percent compared to 11.5 percent for malls nationwide.