Quote:
Originally Posted by OldDutch
It looks like some large comerical lease companies own those units. So I’d imagine as long as “condo fees” keep coming in the lights will stay on.
The issue becomes finding critical mass, adding one or two stores a month won’t cause anyone to drive up there. In the meantime the small owners bleed money and maybe fold. They need to find a way to get stores open en mass, not hard if they were mall chain stores that are equipped but mom and pop, no way.
Quite the pickle this has turned out to be. How the large lease companies got fooled here will make a great case study one day.
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Torgan started selling units early 2015, a friend of a friend paid $215k for a small unit around 170 sq ft.
Meanwhile in that time period Amazon's stock price went from $300.00 to $2000.00. Could have been a tidy little $1.2m profit.
Seriously though, Malls are going the way of the Dodo, retail business is going to E-commerce players. And none bigger than Amazon. It is now far easier to navigate the internet for what you want than negotiate freeways, parking lots and crowded malls. I think stand alone clothing stores and food stores will survive the longest but the rest will be toast in the near future.