Located in San Juan's metropolitan area, which had a population of about 382,000 as of 2010, Taubman's property is a stone's throw from the city's financial district and its international airport.
Saks and Nordstrom will serve as anchor tenants for the high-end property, which will include about 110 storefronts. Taubman expects that about 50 percent of the shops, including the two anchors, will be unique to the island.
In addition to those department stores, other tenants that have signed onto the project are Versace, Louis Vuitton, Kate Spade, Jimmy Choo, Gucci and Omega (for all but Louis Vuitton and Gucci, these are the brands' first locations in Puerto Rico). The center will also house more affordable labels such as Chico's and Gap.
About 80 percent of the stores should be leased by the mall's March 26 opening, Taubman said. It will also feature a hotel and a casino.
"I think the customer wants the great brands that they know," he said. "We're going to have a lot of the great brands that they know."
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Not only does Taubman expect the centrally located mall to attract the 4 million tourists who spent $3.3 billion in Puerto Rico in 2013, he said it will also appeal to the region's affluent residents, who have been more resilient to the region's economic woes.
He added that the local high-end shopper has an appetite for luxury that's evident through the large chunk of business that these retailers do with the Puerto Rican shopper in U.S. markets with a heavy Hispanic influence, such as New York City and Miami.
"I think that we will bring to Puerto Rico a level of shopping that hasn't existed," Taubman said.