The malls are primarily those that are not high-end or low-end.
Earlier this year, D.J. Busch, senior analyst at Green Street Advisers, said to the New York Times, “It is very much a haves and have-nots situation.”
“Middle-level stores in middle-level malls are going to be extinct because they don’t make sense,” Howard Davidowitz, chairman of Davidowitz & Associates, Inc., a retail consulting and investment banking firm, said last year.
The upscale mall was home to stores like Bloomingdale's and I. Magnin. Even Elizabeth Taylor was reported to appear at a department store at the mall.
Source: Washington Post
This is what was once Glamour Nails at Maple Hill Mall. The mall was ultimately turned into a strip mall called Maple Hill Pavilion.
Surprisingly, it's still around, but according to Deadmalls.com, it just has 'a few mum and pop type shops and some local businesses that are fighting a losing battle.'
The future of malls look bleak. Green Street Advisers informed The New York Times that over two dozen malls have closed in the past five years, and 60 more are close to shutting their doors.
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