Shopping Centers Today -> February 1998
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BRIEFLY
Some streets find themselves streets ahead
The world's most expensive street is Causeway Bay, Hong Kong, while New York's East 57th Street comes in second, according to the latest survey by the international real estate consulting firm Healey & Baker, a member of Cushman & Wakefield Worldwide. Trade House Gum in Moscow takes third place on this annual list of steepest streets, while London's Oxford Street is fourth, jumping from 11th place a year ago. Pitt Street in Sydney, Australia, has not placed in the past, but leapt straight into the No. 6 spot, making it the most impressive newcomer on the list of 34 locations. While some countries have seen strong rental growth, this has often been offset by high inflation. Meanwhile, the strong dollar over most other currencies has put U.S. retailers at a clear advantage over European retailers, making space nearly 7% cheaper for American tenants, said the report. Consequently, while Champs Elysees rents might have remained stable in terms of the French franc, they have dropped against the dollar, causing the elegant boulevard to drop from 4th to 5th place on 1997's list of the snazziest streets.
Mall strives to keep teen-agers busy
Developers concerned about unruly teens have hired extra security staff, deployed "mall moms," and even banned unaccompanied youths altogether. However, Stamford Town Center, in Stamford, Conn., is reporting success with another solution, namely giving them something to do. Loitering or misbehaving teen-agers are approached by a pair of social workers who invite them to attend a course on how to get a job at the mall. If that doesn't appeal, they are offered a list of activities and sports in the area. Mall staff took one particularly challenging youth and his friends to a local Gold's Gym for a weekly workout, free of charge, after learning he was a weight-lifting enthusiast. The youth has since taken two part-time jobs at the center. The mall spends about $40,000 a year on the social workers, and another $45,000 on the job training program, which it runs with the Urban League. Officials report a sharp drop in trouble.
Edwards Theatres headed East
Newport Beach, Calif.-based Edwards Theatres Circuit Inc. is a big deal in California, where it operates more than 600 screens, but the company so far has not set foot outside the state. That is about to change, as Edwards prepares to take a big step eastward to build a 20-screen cinema, seating 5,000 people, in Richmond, Va. The company has been signed by Pruitt and Associates, of Richmond, Va., and Cleveland-based Forest City Enterprises to be the first tenant in a 500,000-square-foot "lifestyle/entertainment center" on a 70-acre parcel. Construction on the center is scheduled to begin in the fall, for a planned 1999 opening.
Santas not good for children's sanity?
Taking a child to see Santa Claus is a form of child abuse, says psychologist Jim Hoot, after observing parents over the Christmas holiday lining up to have their children photographed in a shopping center near Buffalo, N.Y. Professor Hoot, who specializes in children's education, said toddlers under 18 months suffer "separation anxiety," while the experience might give older kids a mixed message about the prudence of talking to strangers -- not to mention sitting on their laps, he said. "I have seen so many terrified children thrust on Santa's lap," Professor Hoot said, in an article appearing in London's The Daily Telegraph. "I don't know how you cannot conceive that as abusive." However, some Santas might find Mr. Hoot's solution a little abusive; he proposes that while a child sits on one of Santa's knees, a parent should sit on the other.
J. Peterman finds outlet for Seinfeld
Attention, "Seinfeld" fans: The Peterman Reality Tour just added a new stop. The clothing designer J. Peterman recently opened its first outlet store on the West Coast at Camarillo Premium Outlets, Camarillo, Calif. To celebrate the occasion, the center's management company, Chelsea CGA Realty, Roseland, N.J., invited actor John O'Hurley, who portrays J. Peterman on the popular "Seinfeld" series, to meet the real J. Peterman -- designer John L. Peterman. The two participated at a ribbon-cutting ceremony.
Home Shopping Network goes for a song
Politicos tired of going on CNN might try HSN instead. U.S. Senator Orrin Hatch (R-Utah) made his debut there in December, according to Reuters. The chairman of the Senate Judiciary Committee appeared on the Home Shopping Network to sell two albums of songs written by him but recorded by professional musicians. Sen. Hatch, the first politician to sell products on the network, said that he went to HSN to sell "Freedom's Light," featuring patriotic songs, and "My God Is Love" because he couldn't find a national distributor. Sen. Hatch, who admitted he writes songs during "boring committee meetings," also will have a song recorded by Gladys Knight in tribute to Princess Diana and Mother Teresa. An album of love songs is on the way, too.
