Seeking Alpha

"Malling" of America is over

  • The Deal Malls Enthusiasts Facebook group boasts nearly 14K members, a Google search of "dead malls" produces 5.7M results, and the interiors of formerly bustling shopping meccas are more likely to see action as cameo players in campy horror films, writes Bloomberg's James Greiff.
  • It's more than just Amazon, says Greiff, noting young millennials are less likely to buy cars (though the economy could have something to do with that), and a lot of the socializing that used to take place at malls now takes place online - killing much-needed foot traffic.
  • Trying to hold back the tide, of course, are politicians who continue to deliver tax breaks and other benefits to mall owners.
  • Mall REITs which may have interest: SPG, GGP, BRX, KIM, WRI, MAC, GRT, TCO.
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Comments (1)
  • Zocman
    , contributor
    Comments (10) | Send Message
     
    I bought this stock five years ago and have less than half of what I invested. The market keeps going up but Kimco has not done much.
    3 Jul 2014, 12:08 PM Reply Like
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