Reacting to the coronavirus-initiated closures of their properties, mall REITs furloughed or laid off employees, slashed executive pay, chopped expenses and scrubbed development projects to staunch the financial bleeding. Yet those immediate measures won’t preserve the lifeblood of mall REITs as they open their doors again.
Rather, REIT executives are thinking outside the big box in their pursuit of long-term survival strategies. . . . more