Anchor store mainstays like Sears, Macy’s, and JCPenney have already been closing stores to cut costs and adapt to shoppers’ changing needs, but one prominent real estate analyst says this culling of department stores is far from over, and that even the most popular malls will likely end up with just one or two traditional anchor retailers. [More]
commercial real estate
Troubled Mall Sells To Its Own Lenders For $100
By 1.19.17 — Updated: 1.21.17
The Galleria at Pittsburgh Mills is pretty typical for a troubled mall: it opened in 2005, but is now financially distressed. It didn’t have enough customers to support its retailers. While the mall still has anchors like Macy’s, JCPenney, and Dick’s, it recently sold at auction for $100. Sort of. [More]
