Thoughts on malls; are new deals going across street?
Personally malls still feel like Covid spreaders. Anyone seeing new tenants going after sites across from the mall?
[{"id": "g927exh", "text": "You mean retail literally across the street from malls?", "replies": [{"id": "g929est", "text": "Yeah, what\u2019s the trend? Shopping center vs mall. shopping during covid is more out of necessity or specific need where as a mall, people casually stroll. Out West and South, outdoor shopping centers are definitely popular.", "replies": [], "depth": 2}], "depth": 1}, {"id": "g9296mb", "text": "Not really. People go there picking up order and returns. Don't want to pay shipping cost.", "replies": [], "depth": 1}, {"id": "g929lw2", "text": "Depends on the mall and the location", "replies": [], "depth": 1}, {"id": "g92j8bz", "text": "Trend is no one is doing new retail deals. Or if they are it is few and far between and concentrated at the covid winners who usually dont go to malls anyway (health, grocery fast food etc). Entertainmemt and food is dead everywhere.", "replies": [{"id": "g92o4s4", "text": "I do see opportunities, the A restaurant in a B site now has the chance to be in an A site. Breweries are still growing. (Nothing seems hot)", "replies": [], "depth": 2}, {"id": "g92sgw0", "text": "We just closed on a $200m construction loan for a new lifestyle center", "replies": [{"id": "g93cpsr", "text": "That'll be ready in 2 years? I think they are hoping everything will go back to normal by then.", "replies": [{"id": "g93swkw", "text": "Will open fall 2021. But I also think a lot of people think the pandemic is going to permanently impact how much people shop at brick and mortar.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "g93e03f", "text": "Yes, depends on the market and tenant.", "replies": [], "depth": 1}, {"id": "g93f52q", "text": "Depending on climate in area where mall is and general location. If CAM charges are too high or common area electricity is too high, and n some cases higher than rents collected, then it is a loosing proposition for owner. In my area more outdoor style malls are becoming popular because there are no common area charges, just a bunch of NN or NNN allowing for landlord to build and collect rent with low maintenance.", "replies": [], "depth": 1}]