American malls are diversifying
Malls have been dying for the past two decades, and property owners are hard at work to innovate these American icons. In 2018, a visit may leave mall goers dumbfounded, as vacant spaces are converted to craft breweries, children’s theaters, and other surprising businesses. As mall management giants spend billions annually to renovate and update their properties, this new wave of unorthodox tenants may not be so surprising after all. We talk about diversifying our tenant base. … We’re referring to reducing our reliance on traditional mall retailers, including department stores, apparel and accessories. Investors and managers alike are crossing their fingers that these changes will mean an uptick in mall stock.
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