Construction companies in Chesterfield are building not one but two outlet malls. The city already has a shopping mall.
The CEOs of the respective construction companies, Taubman Centers and Simon Property Group, are questioning whether building two malls within a couple miles of each other is a good idea, though neither is backing down from his plans.
As Robert Taubman, CEO of Taubman Centers, said in an interview with the St. Louis Post-Dispatch:
“Well, I think it’s possible by having two you do create an outlet mecca … But I think it’s perhaps more likely that it would fragment the market somewhat, that it would reduce sales productivity at the two assets.”