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Regional malls: real estate's bright spot.
Regional malls: Real estate's bright spot
While consumer spending was down this holiday season, developers of regional malls are still doing a lot less teeth grinding than their office and apartment building counterparts. Occupancy in many malls is upwards of 90 percent or better. Some new malls are coming on line and developers are proceeding with multi-million dollar renovations and expansions. Regional malls seem to be part of the "last frontier" - one of the few markets that is not overbuilt. They also remain one of the most popular property investments for institutional investors. Westfield Inc., operators of the Garden State Plaza, in Paramus, which features anchors Macy's, J.C. Penney and ...See the full content of this document
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