Westfield COO Bill Hecht looks at the billion-dollar re-do of the company’s Century City Mall in Los Angeles and sees the dawning of a new era in retail.
Phillips Edison, one of the nation’s largest owners and operators of grocery-anchored shopping centers, has formed a new $4 billion REIT focused on this still-growing sector of physical retail.
Malls are not going away entirely, but the word “mall” may be an endangered concept.
CBL Properties, one of the nation’s biggest mall operators, with 121 of them in 27 states, has announced a rebranding campaign that that reflects a new strategic direction focused on operating community gathering places, not mere shopping centers.