Simon Properties Group is attempting to acquire rival General Growth Properties Inc., giving them a near-monopoly on America's malls. Will complete control of malldom give them the power to bring back this dying breed?
Greg Lindsay writes, "Analysis of the deal has dwelt on retrenchment and consolidation, the combined entity would own 30 percent of the nation's shopping malls. "More important," according to The Wall Street Journal, "it would own nearly half of the country's 319 best-performing malls in terms of sales, giving it unmatched power over retailers and control over the look and feel of the shopping experience."
By cementing a near-monopoly the best locations and the highest-grossing tenants, Simon is hoping to delay their inevitable decline. (Or at least milk these cash cows for all their worth.) But as Steiner predicted four years ago, the most lucrative "will be the last ones to die.""
FULL STORY: How Much Longer Can Shopping Malls Survive?
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