The mall operators also said foot traffic to the center is up 20 percent year-over-year.
Taubman Centers Inc., owners of a 95 percent stake at The Mall of San Juan, warned in its 2017 annual report that it may not fully recover the losses related to Hurricane María, and anticipated that if a major tenant or anchor store does not reopen, others may follow.
Taubman Centers Inc., owner of The Mall of San Juan, confirmed Thursday it has collected a little more than $1.1 million in insurance recoveries related to damages sustained at the shopping center related to Hurricane María last September.
Taubman Centers Inc. announced the acquisition of an additional 15 percent interest in The Mall of San Juan, pushing its ownership in the recently opened center to 95 percent.
When Puerto Rico’s newest shopping center, The Mall of San Juan, opens today, it will do so with about a third of the tenant mix it expects to populate the 650,000 square-foot retail space by year’s end.
High-ranking executives from Taubman and New Century Development, Inc. — developers of the $475 million The Mall of San Juan retail complex — will be on hand today to offer a sneak peek of the property to members of the media, a day before it officially opens for business.
Five more retailers have added their names to the roster of tenants moving into The Mall of San Juan and will be making their Puerto Rico debuts when the luxury shopping center opens Mar. 26, mall operator Taubman Centers Inc. revealed late last week.
Taubman Centers and New Century Development Corp. announced Tuesday that $400 million The Mall of San Juan upscale retail project will have its grand opening in two years, on March 26, 2015.
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