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Article: Shopping center vacancies.(REAL ESTATE)(Brief article)
- Article from:
- San Diego Business Journal
- Article date:
- November 24, 2008
- Author:
CopyrightCOPYRIGHT 2008 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Shopping center operators and owners are about to witness an increase in vacancy. This means a loss in value and an inevitable shift in ownership as many centers struggle to survive. Of those that do (and are not converted to some other land use, or part of a mix of land-use types), they will find that values of the assets will change as rental rates decrease.
Competition from the Internet will be more pronounced: It is often cheaper and usually easier to purchase online, although not nearly as much fun as going to the mall.
There are trade-offs, but the ...