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Article: Malls seeking out independent food vendors, retailers.(Company rankings)
- Article from:
- The Food Institute Report
- Article date:
- October 5, 2009
CopyrightCOPYRIGHT 2009 The Food Institute. 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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Malls are offering reduced rents and other deals to local businesses including restaurants and food vendors as they look to fill vacant space, prepare for the holiday season and localize their venue, reported The Record (Sept. 27). Enclosed malls across the U.S. had a 8.4% vacancy rate in the second quarter, according to REIS INC., the highest since the company started tracking the rate in 2000.
The recession is not the only reason malls are looking to independents to fill space, according to Paco Underhill, founder of retail research firm ENVIROSELL. "We see progressive landlords all over the world trying to bring more local influence into their malls because it ...
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