The rise and fall of the shopping mall
UC expert speaks to the Financial Times
The Financial Times recently took a deep dive into the state of shopping malls in the era of ecommerce.
The publication turned to Carl Goertemoeller, executive director of the University of Cincinnati Real Estate Center, as an expert on the commercial landscape over the years. He explained how the business model behind shopping malls operated back in their heyday: Attracting customers through large, recognizable department stores.
“There are plenty of instances where developers would give [department stores] the land for a dollar, and would even improve the land, would even build the parking for them, put in all of the improvements, basically give them everything,” he told the Financial Times.
“The developer made his money leasing the small shop space in between the department stores,” he added.
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