Here is the type of retailer that certain mall owners want to see as part of their tenant mix: Small, local, offering a unique good or service. Here the type of retailer that often struggles financially in an economic downturn: Small, local and offering a unique good or service.
As inflation mounts and the prospect of a recession becomes increasingly more likely, mall owners have a dilemma. Bring on board the type of curated retail that many higher-income shoppers want and risk a possible failing tenant, or stick with the tried-and-true national brand that can be found just about anywhere.
The former choice is enticing, says Tenant Risk Assessment CEO Brad Tisdahl, as not only are there more of such retailers to delight shoppers these days, but there is also a clear demand for this type of retail. "There is more foot traffic when there is something interesting," he tells GlobeSt.com.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
