Find in the news:
BY COUNTRY

These Savvy Investors Are Pouncing On Dying Malls



A number of investors are going against the crowd and snapping up older malls on the cheap.
The changing retail scene has led to a ton of uncertainty among landlords. Some retail bellwethers are struggling, and other retailers are rushing to adapt to changing consumer preferences. Add it all up, and it’s leading to changing footprints for traditional tenants in the world of brick-and-mortar. By extension, landlords are being faced with adopting the same adapt-or-die mindset, but that’s leading to a ton of opportunity for savvy investors.

Bonita Lakes

As Investor’s Business Daily shares, some them are going against the crowd and snapping up older malls on the cheap. Discounted purchase prices lead to additional funds being available for much-needed aesthetic improvements. One part of the strategy is to seek out malls that may have seen better days in areas with no other enclosed shopping center within 50 to 100 miles.   

"If the grim reaper hasn't come yet, then he's circling pretty good," explains Jim Hull, managing principal of Hull Property Group. 

The Georgia-based has spent a good part of the last decade bringing distressed malls back to life. Earlier this year, the company was able to acquire the Hudson Valley Mall in Kingston, NY for $9.4 million - a massive discount from its 2010 appraised value of $87 million. 

"If you own it at 20 cents on the dollar, you can provide tenants with very profitable stores, because you can give them cheap rents," says Andy Weiner, president of RockStep Capital. 

The Houston-based company purchased the Bonita Lakes Mall in Meridian, Mississippi last year for $28 million, which is just a fraction of the $85 million the space cost to build back in 1997.  

"We want to be in markets where the mall is still one of the more interesting things to do on the weekend," says Ami Ziff, director of retail at New York-based Time Equities, 

Ziff and company have also taken advantage of the doom-and-gloom narrative that has been encircling the shopping mall industry. The company has purchased five enclosed malls since 2010 and hopes to expand its portfolio to 10 by the end of the year. 

Chris Maguire, chief executive officer at Dallas-based Cypress Equities, is another investor that shares the enthusiasm for the opportunity presented by the dead-mall narrative - and that comes fresh off of its acquisition of a dated regional mall in Flagstaff, Arizona earlier this year.  "We think there are somewhere between 100 and 200 malls out there that fit the general criteria. They need capital, but there's cash flowing, so you just sit and wait," he said. 

Related shopping malls and stores:

More about shopping malls in the USA



DAY BEFORE YESTERDAY, Australia:
The closures caused the company to lose 27% of its shopping days, but it grew revenue.
Jan 26, 2022, China:
The new mall has been integrated into a single space with the retailer's existing store.
Jan 26, 2022, USA:
Elon Musk's message refers to an advertising campaign by McDonald's, which invites cryptocurrency investors to work for it.
Jan 25, 2022, USA:
By the end of January 2022, Savage X Fenty will open five mono stores in the U.S.
Jan 23, 2022, USA:
Amazon Style is experimenting with various tech services to enhance the shopping experience.
Jan 20, 2022, USA:
The new tenants include both international brands and small local companies.
Friend
and Follow
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City
Mall of Tripla GLA:914 932 SF
ADDRESS: Veturitie 13
Finland . Helsinki
Mall of Tripla
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us