5 Reasons Why Regency Square Mall's Days Are NumberedDecember 2, 2014 93 comments Print Article
Ten percent of the nation's 1,000 enclosed malls are predicted to fail by 2022. Here are five reasons why Regency Square Mall will be one of them.
5. Mason Asset Management, Inc.
The company was heralded locally as Regency's savior when it purchased the aging mall in early 2014. However, look no further than Bradenton's DeSoto Square Mall to see where Regency's story will end.
Mason purchased Bradenton's ailing mall from Simon (see no. 2) in 2012. Unable to find a traditional retail anchor for an abandoned Dillards space, Mason filled the vacancy with a furniture store. Instead of stabilization, Macy's recently decided to jump ship, permanently closing its DeSoto store in September 2014.
Mason's strategy for Regency appears to be similar. Fill abandoned retail space with whatever is willing to commit to a lease. This strategy will drop vacancy rates, but you may not end up with a traditional retail shopping destination as a result. Enjoy Regency Square Mall while you still can.
Editorial by Ennis Davis, AICP. Contact Ennis at email@example.com