With a lot of negative news around real estate, it’s interesting to see what areas could benefit from the easing of restrictions over the coming weeks and months.
At least one commercial real estate executive thinks, some malls could see a rebound. Jeff Olin, president and CEO of Vision Capital Corporation was interviewed by InvestmentExecutive.com mentioned, Shopping malls continue to face “long-term pressures,” Olin noted, although he thinks the best malls will recover after the pandemic, when people suffering from cabin fever are allowed to venture out in search of retail therapy.
Olin also noted the malls which will likely do the best long-term are those with the options to look towards alternative uses, “The best [mall] locations, where you can provide alternative uses with apartments and office space and other creative uses, will continue to do relatively better,” Olin said.”
As we see more issues facing companies like WeWork, will savvy real estate investors find opportunity in good mall locations which could be updated to include co-working spaces or even the addition of residential.