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Hundreds of shopping malls across the country require substantial investment to stay alive in today’s market, but disagreements over how much the properties are worth — even among professional appraisers — have left many of them sitting stagnant.
Gautham Vadakkepatt, director of the Center for Retail Transformation, told BisNow he has seen mall valuations fall “astronomically” in recent years. He said customers who can buy most products online don’t want to drive to malls unless it is providing a special experience, and many malls haven’t maintained a strong enough tenant mix to make it worth the trip.