Word: stonestown
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...Stonestown Shopping Center supermarket near San Francisco, while Traveler Khrushchev calmly thumped cantaloupe and tweaked grapefruit, the eager journalistic pack suddenly erupted all over the meat and groceries. One photographer, battling for a superior position, fell into the refrigerator butter case; another mounted a display of luncheon meat; another stood oxford-deep in packaged cheese. A cameraman shorter than his peers leased (for $5) the shoulders of a store clerk and spurred his two-legged steed up and down the aisles, crying: "Faster! Faster...
...done much to build the new markets. There are already 93 such centers around the 20 largest U.S. cities, and at least 25 more on the drawing boards. The investments run high-$20 million at Chicago's Park Forest suburban development, $30 million at San Francisco's Stonestown, $100 million at Los Angeles' Lakewood. And an increasing number of big city department and specialty stores, sensing the trend, are building their own suburban branches...
Such lively doings have made the shopping centers magnets for money. The Equitable Life Assurance Society alone has sunk more than $20 million into three centers: Seattle's Northgate. Boston's Shoppers' World. San Francisco's Stonestown. Last week the Commerce Department attributed the 43% rise in commercial building outlays so far this year mainly to new shopping centers. Among the newest...
...shopping centers have drawn consumers' dollars even more spectacularly than they have the promoters'. Los Angeles' $100 million Lakewood Center, opened two years ago but only one-fourth finished, already rings up about $50 million in annual sales. San Francisco's Stonestown (see cut), one year old this week, is expected to gross $30 million annually by the end of next year. Not only do many of the stores average more business per square foot of floor space than their best in-town competition, but with 10-14% lower operating costs, they also net a much...
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