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Mall Makeovers: A Good Investment Idea

An interesting phenomenon is occurring in major metroplexes all over the world. Within the United States it is more pronounced due to the economic realities of the North American societal norms. The development or redevelopment of what was once considered to be a “Shopping Mall” has been changed forever. Real estate investors are looking to get their money out of strip malls and traditional enclosed malls, and into “Lifestyle Centers.”

It’s an exciting time to be a mall developer. It used to be that if you had a couple or three good anchor tenants, your mall would be a success. Today that is simply not true. Instead, there is an aggressive move away from a simple shopping environment directly toward lifestyle oriented developments. No matter the size or scope of a retail development, be prepared to see far more non-traditional commercial experiences available for consumers who demand more and more every day 레플리카.

Expect to see more sensational entertainment, food, specialty products, multi-use facilities, and common areas as a staple of the development of today and tomorrow. You will see more fountains, playgrounds, theaters, sports bars, athletic venues and ornate artwork being combined with upscale and hybrid retail establishments. That’s what the public wants, and that is what a smart investor/developer will give them.

When we go out now, we want to be entertained, coddled, and immersed in the “experience.”

If you are developing now, stop and look at your plans, do they include the bells and whistles that will keep your property successful in the future? If not, maybe a redesign is needed. If you own and operate, perhaps a critical look at what you could do to enhance the experience at your property would be wise. If you own other stand-alone facilities like restaurants or hotels, consider carefully whether you need to add some pizzazz to your property. You must be more than just competitive today, you really should be cutting edge.

If you own, develop or operate a property that provides a robust experience, your outlook for profits is exponential compared to properties that are simply out of date and tired. The proper development of wealth through real estate takes a vision of tomorrow. Make sure you are looking to the needs of your tenants, guest, residents and users. If you will fill their life with the experience they are looking for, they will in turn fill your pockets with profits.

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