Friday, November 22, 2019

Malls are dying. The thriving ones are spending millions to reinvent themselves.

The Washington Post
Malls that are thriving are spending millions reinventing themselves as integrated lifestyle hubs — adding yoga studios, medical clinics and microbreweries — populated with more upscale shops. But such targeted investments are often coming at the expense of mall operators’ lower-tier properties — and analysts say the divide between rich malls and poor malls is widening.

“There is an accelerating polarization between the ‘best’ and the ‘rest,' ” said Neil Saunders, managing director of research firm GlobalData Retail. “Newer, nicer malls have become magnets for consumers, pulling them away from struggling properties.". . . . more

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