Class-A mall valuations nearly halved over last 5 years
Even the strongest shopping malls are seeing significant slides in valuation as consumer tastes change and the impact of the coronavirus pandemic continues. Class-A mall valuations have dropped about 45% since 2016, according to CNBC, citing a new report by Green Street. For a few years after the Great Recession, Class-A retail valuations did well, but that changed around the mid-2010s as most malls suffered declining occupancies. Mall owners are suffering as well. Simon Property Group, for instance, the nation’s largest retail space landlord — many of whose properties are…
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