Property News · September 26, 2017

US department stores cling to power over landlords on mall upgrades


The owners of the Sunrise Mall in Northern California have a vision for updating the 45-year-old centre, but tenants there are making it difficult to get it done.
Proposed changes have been held up by the property’s department stores, which include Macy’s, JC Penney and Sears. Shoppers in the area, meanwhile, are turning to other, more modern centres as the redevelopment stalls.
Department stores may be struggling to draw customers, but they have not relinquished…

Source : South China Morning Post
Read more…US department stores cling to power over landlords on mall upgrades

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