Why this top retail broker thinks American Dream will be smash hit (and he’s not even involved)

Dec 21, 2018 at 10:17 am

Jason Pierson knows the retail world as well as anyone in New Jersey.

As the leader of Pierson Commercial, he sees it from the eyes of the owners and the tenants.

When he sat down with ROI-NJ’s Tom Bergeron for our annual Interview Issue, we asked him to discuss American Dream, a project he is not working on.

We get the feeling he wishes he were.

Keith Muccilli
Jason Pierson, head of real estate firm Pierson Commercial. ­

For all the delays in its tortured history, Pierson feels the Meadowlands megamall/entertainment mecca is going to be a big hit. And he blames the delays for creating a false impression of the project.

I think that it has a stigma of a project that just couldn’t get off the ground,” he told ROI-NJ. “And, for the average person that’s not affiliated with the retail and commercial real estate world, they have no idea what’s going on.

“But, anytime I mention it to anybody, they have no idea that it is still progressing and opening up within the next year and a half or so.

“And, when I discuss the different, family-fun, experiential type of operators that are opening up there, they get excited. There’s nothing like it.”

Pierson said it’s important to understand the project is different from others. And that it’s a classic example of experiential real estate.

I think it’s going to be more of an experience and a vacation than it’s going to be a one-day stay,” he said. “And not just residents in New Jersey and New York.

“I think you’re going to find people from all over the country and internationally going there. When international travelers come to New York, they’re looking for things to do outside of the city.”

For the complete interview, click here.

The Interview Issue