That’s not a bad headline leading into RECon 2012 next week in Las Vegas. Not that I can take credit for the verbiage; “Regional malls alive and kicking” is a report issued by SNL Real Estate, Charlottesville, Va.
According to SNL’s information, despite stalled growth in household income, regional malls have held their own, boosted by ongoing consumer interest in luxury items. In fact, occupancy levels at domestic regional malls owned by U.S. REITs moved to 93.2% by the end of 2011, from 91% at the end of 2009. That’s recovery for you.