Queens Center scores nearly 100% occupancy
June 29, 2009 06:30PM
Queens Center
One of the country's most profitable shopping centers is in Elmhurst, Queens. The Queens Center was the only New York City-based mall on U.S. News and World Report's top 10 list of most profitable shopping centers. Queens Center posted an average occupancy rate of 98 percent, and sales of $876 per square foot, according to the magazine, which ranked malls by analyzing sales figures, occupancy rates and quality grades for about 650 of the largest shopping centers. The magazine used data from Green Street Advisors, an investment research firm in Newport Beach, Calif. Queens Center's tenants include JC Penney, Macy's, the Gap, Bath & Body Works and the discounter H&M. The magazine also noted the center's convenient location near a subway stop, several bus lines and the Long Island Expressway. [U.S. News]
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