Odd Lots What Dead Malls Tell Us About the Future of Commercial Real Estate
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Dec 4, 2023 
Liza Crawford, a seasoned portfolio manager at TCW specializing in commercial real estate, dives into the fascinating evolution of shopping malls and their implications for the future of commercial real estate. She discusses the stark contrasts between thriving upscale malls and declining traditional ones. The conversation shifts to the parallels between retail and office spaces, highlighting the critical role of consumer demand. Liza also emphasizes innovative strategies landlords must adopt to navigate post-pandemic challenges and the transformative potential of technology in the industry.
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Mall Due Diligence
- Liza Crawford describes assessing mall viability by observing ambiance, density of shoppers, and tenant mix.
- Burlington Coat Factory's success, amidst struggling stores, indicated unmet consumer demand.
Office Bifurcation
- The bifurcation seen in malls applies to offices, with Class A and Trophy properties faring better.
- Not all office spaces are equal; some are thriving while others struggle.
Class A Pressures
- Even Class A office buildings are experiencing pressure due to evolving tenant demands post-COVID.
- Amenities like natural light, upgraded spaces, and technology are now crucial for attracting tenants.