Regional mall operator Taubman Co. is getting ready to start work on at least one new mall, according to the Detroit Free Press.
During a third quarter earnings call with analysts, company officials said Taubman entered the predevelopment stage on a project in San Juan, Puerto Rico and was also forging ahead on malls in Hawaii and Salt Lake City, Utah. (The Salt Lake City project has been announced for some time).
This jibes with what Taubman chief operating officer William S. Taubman told Retail Traffic back in May, when he said there might be room in U.S. for up to 20 new malls.
“There is growth in this country, we will be adding millions of people over the next 40 years and they are going to need somewhere to shop.”