After months of speculation, mall owners Simon Property Group and Brookfield Property Partners bit the bullet and made a bid for bankrupt fast-fashion retailer Forever 21. Simon and Brookfield, in partnership with Authentic Brands, are reportedly looking at a bargain deal at $81 million for essentially all of the company’s assets, but the decision to buy the chain might be an indication of how much pressure mall landlords are facing to keep their centers occupied.
Last year U.S. store closings reached an all-time record with approximately 9,300 shuttered locations.. . . more