Malls reinventing themselves as mixed-use centers are finding that the conversions bring them higher rents for residential and office space—as well as retail.
Macy’s outperformed expectations across all three of its brands — Macy’s, Bloomingdale’s and Bluemercury — and swung to a profit in the first quarter as shoppers returned to its stores.
Pyramid Management Group this year announced plans to introduce residential developments across its 14-mall portfolio to increase traffic and activity and keep them viable.