Originally published in Shopping Center Business, June 1997
With today's seemingly unlimited competition, numerous shopping centers are faced with the need to critically examine themselves. In the Chicago area, we recently found that over the past ten years, the average major mall had tenant turnover of over 67 percent and, in some cases, close to 80 percent. In Texas, we found increasing vacancy in both young and older malls, while in Florida, we found big box users vacating centers less than five years old for newer power centers. If your center is faced with declining tenancy or additional competition, it will pay to consider this process as a way to strengthen your center and protect your investment.
ANALYZE YOUR SHOPPING CENTER