After bad malls die. Wonder if the debt was covered.https://youtu.be/APlSFQh6udw?t=255 …
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Schools, insurance agents, and salons can't pay enough rent to justify anything close to what commercial REIT owners need to make their math work.
When people want to go the mall they want to visit like 10-15 stores. That’s what makes it worth the hassle of parking and going into an otherwise depressing building. But if you have diverse service businesses, you don’t get that benefit from clustering.
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If you go to malls in emerging markets (I'm in Colombia) you see multi-use built into the DNA of the building.
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One mall I lived near had a fitness place on the third floor - no street access. Escalators to it went up from the 2nd floor food court. Main anchor/access was through a grocery store across street from a university. Solid design for convenience and driving purchases.
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New conversation -
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Precisely.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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