The great Mark Twain once famously said, “Reports of my death have been greatly exaggerated.”
The same can be said about the financial condition of America’s shopping malls. Malls, by and large, are having a pretty good year.
According to the website seekingalpha.com, the common narrative that there’s a “retail apocalypse” dooming brick-and-mortar retailers flies in the face of the facts.
Following a record year in 2017, this holiday season looks to strong with 3-5% growth expected. In fact, reports claim that there was a healthy rise in foot traffic during the recent
Black Friday weekend.
As a consequence, mall REITs have been among the best performers this year, reporting a 5.8 percent rise in tenant sales in the third quarter of this year.
Top-tier malls continue to find success in repurposing vacated department store space into higher uses.
So, happy holidays to all at the mall!
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Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.