Malls redeveloped as mixed-use snare higher rents across all sectors
Malls reinventing themselves as mixed-use centers are finding that the conversions bring them higher rents for residential and office spaceā€”as well as retail.

Real estate intelligence provider CoStar recently surveyed 37 U.S. malls that had redeveloped their properties or were planning to do so and found that apartments in their reimagined lots merited rents 13.9% higher than similar spaces within the same market.

Office space on re-made mall sites rented at an 8.6% premium and retail rent rose by 7.3%.
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RSK: I like this as an option for certain malls. Makes so much sense to me.

Ken Notes: Hilldale seems to be working...



- - Volume: 9 - WEEK: 22 Date: 5/25/2021 6:14:40 AM -