Garden State Plaza Is 9th Most Lucrative Mall In The U.S.

PARAMUS, N.J. -- A new study by boutique research firm Boenning & Scattergood for CNBC found that Westfield's Garden State Plaza is among the top 10 most lucrative in the U.S.

Westfield's Garden State Plaza is among the most lucrative in the U.S.
Photo Credit: *Garden State Plaza Facebook*

Cecilia Levine

01/31/2018 3:07 p.m.

The 20 most valuable malls in the country owned by real estate investment trusts bring make nearly $21 billion in retail sales a year, the study says.

Paramus' own Garden State Plaza is the ninth most lucrative in the U.S., has a total asset value of $2.71 billion a year, according to Boenning & Scattergood. The mall has $950 per square foot.

The Woodbury Commons in Central Valley, N.Y. comes in at No. 4 on the list, with a total asset value of $3.2 billion and $1,624 sales per square foot. The mall is owned by Simon Property Group (the same company that owns The Shops at Riverside).

The most lucrative mall in America is the Ala Moana Center in Honolulu, Hawaii, owned by General Growth Properties. The mall is worth $5.74 in total asset value and $1,450 per square foot.

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