Survival Of The Fittest: Malls Evolve
A "lifestyle center" may be coming to a location near you.
"Nearly 20 percent of all regional malls in the nation are dying "greyfield malls," with sales of $150 per square foot or less, or approaching 'greyfield' status..." The solution? "Counter boredom" with "'lifestyle centers' that combine entertainment, restaurants and shopping, sometimes at an open-air, faux 'Main Street'..." This specialization could save America's malls. As one real estate professional put it: "...isn't that what the customer is telling us? They don't like regional malls because they all look the same."
Thanks to David Gest
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Published on Sunday, September 14, 2003 in
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