Mall owners are making the best out of a bad situation.
The seismic shift in consumer preferences has rocked the retail industry to its core, resulting in more than 36M SF of department store space that will be vacated this year. But department stores’ loss is mall owners’ gain. Landlords are profiting off the closures by bringing in entertainment, fast-fashion, and food and beverage tenants to fill the space — and they are getting quadruple the rental income.. . . more