© 2025 Real Estate Consultants of Colorado, LLC
Austin, TX
We often read that J.C. Penney and Macy's are closing stores and selling the mall anchor real estate they own, but family-controlled Dillard's recently bought an entire indoor mall in Longview, Texas to protect the property from falling into the wrong hands and hurting Dillard's business, which happens to be thriving. Common wisdom suggests malls are dying and so is the department store business model but this event suggests that it might be poor operators of department stores and indoor malls who have not been effective stewards of their domain. Commercial real estate asset types go in and out of fashion (think industrial, then [strip mall] retail and now office) and we are most curious to see if a broader renaissance of indoor malls comes next.
We often read that J.C. Penney and Macy's are closing stores and selling the mall anchor real estate they own, but family-controlled Dillard's recently bought an entire indoor mall in Longview, Texas to protect the property from falling into the wrong hands and hurting Dillard's business, which happens to be thriving. Common wisdom suggests malls are dying and so is the department store business model but this event suggests that it might be poor operators of department stores and indoor malls who have not been effective stewards of their domain. Commercial real estate asset types go in and out of fashion (think industrial, then [strip mall] retail and now office) and we are most curious to see if a broader renaissance of indoor malls comes next.
© 2019 Real Estate Consultants of Colorado, LLC