Posted on 11/13/2022 2:00:08 AM PST by EBH
NORTH OLMSTED, Ohio — Are shopping malls on their last leg and nearing extinction?
It’s a question consumer experts have been asking for years.
However, recent data shows indoor and outdoor malls are actually showing positive gains and nearing a comeback here in Northeast Ohio.
With higher vaccination rates, baby boomers preferring in-person shopping, and a millennial generation loving nostalgia, some experts and investors believe we may have turned a corner in the retail landscape.
Take a walk through Great Northern Mall in North Olmsted and you can’t help but notice the rush of shoppers, vibrant retail spaces, and holiday decorations.
It’s the glimmer of hope and turnaround point Dan Crandall, Marketing and Business Development Manager of Great Northern says they’ve been longing for.
It's a welcome moment in an era where so many malls have shuttered operations or rebranded toward mixed outdoor use.
“They’re coming back to the malls. They wanna touch, feel and experience it—especially with the holidays this time of year!” said Crandall.
In the days when so many were shopping online due to the pandemic, 2022 actually brought a noticeable change.
(Excerpt) Read more at news5cleveland.com ...
When covid hit, Simon went down to about 45, and I told my rich buddy, who owns. Comm RE. to load up on it. He bought a load of it at 54 and I urged him to take off half last time it was up > 100. Very good trade.
More to your point, there was talk of subdividing what are known as the “anchor tenant” spaces of some of their malls, which were at the time not doing well. In other words, subdivide the jc penney’s, the Macy’s, etc etc. There was even talk of converting some of those big spaces to marijuana grow operations. And yes, talk of converting the big boxes into residential. I have not been following it all that closely.
But what I can tell you is, the guys at Simon are very, very sharp operators. Best in the business. It is often said that when you buy a stock in the Warren Buffett sense of the word, not just as a day trade, you are buying the stock plus you are buying the management of the company. There would be no better example of that than these guys. They did not get to be number one in the business by being idiots. I am rather surprised that the stock decline from about 1:30 back down to about a hundred and now is apparently staging a U-turn back upwards, but they are the ones who know what they’re doing, and I am not.
I MAY’VE gone to the local mall once in the last year... last Christmas maybe. I think that was to accompany the wife when she went to buy something.
I just don’t do malls anymore.
“Me, too. My husband loves that about me.”
as well he should! :-)
That started really happening to me in 2008 - left me trying to figure out how to stay alive (the song became reality).
I noticed it when I read that there weren’t enough nurses to fill all the empty positions in the healthcare system, so the government imported thousands of nurses from India.
It was also about that time when colleges put a limit on the number of Americans who could apply to become doctors.
There is a movement to make American citizens serfs.
(There is a movement to make American citizens serfs)
Yes and W is part of that.
Which explains everything he has done and not done for 14 years.
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