One Example Of What Might Happen to Some of America’s Malls

Bisnow June 16,, 2023 reported that Brookfield “Dealing With Debt Issues At 8 Shopping Malls’,  and as one example, their Woodbridge Center mall in north Jersey lost one of it’s anchors, Sears, in 2020. The occupancy is at 63% and isn’t covering the debt. In 2014 the mall was worth $366 million but is now only worth $86 million. This is not indicative of national retail in general, but there are going to be cases like this, and the recent 1.5 ,million square foot Westfield Mall in downtown San Francisco that just went back to the lender, that will pop up more and more with the increased interest rates and big box retailers going through a metamorphosis.