In a U.S. Mall Owner’s World, ‘Boring’ Is Actually Pretty Good
- Owners out to assure investors that the worst is behind them
- Mall REIT shares have tumbled 25% in the past two years
Shoppers walk past stores at the Fashion Outlets of Chicago mall in Chicago, Illinois, U.S.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Mall landlords, besieged for the past two years by the rise of online shopping, are trying to push a new narrative of improving sales and increased demand for empty space at their properties.
Second-quarter earnings results for the biggest owners were largely in line with expectations, according to DJ Busch, an analyst at Green Street Advisors LLC, a research firm that specializes in real estate investment trusts. And that’s good news for an industry that’s struggling to stay relevant.