In this age, America has seen the steady decline of the shopping mall. Competing with online sales, malls have less traffic than they used to. Are they worth keeping up? Most definitely yes. Not only are shopping malls needed in our society, but they also make great commercial real estate investments. Below is an outline of why this is the case.
Why Shopping Malls Are Necessary
Shopping malls play numerous roles that one might take for granted; they have benefits for shoppers that online stores will never have. One of the advantages of shopping malls is the ability to interact with products in person. It is impossible to test out products like clothing, shoes, and gadgets by looking at them on a screen; to touch, try on, and try out is invaluable for shoppers looking for the perfect fit.
Another reason that shopping malls are beneficial is that they give someone a community experience. Especially at a time when face-to-face contact is limited, people may appreciate malls more. Malls provide a person with a reason to travel outside of the house. In recent years, mall owners have integrated hang-out spaces and high-quality movie theater seating for the public. They have also invested in healthy and unique food court options and provide anchor stores that will accommodate the majority’s needs. All in all, many people enjoy shopping and enjoy doing it together.
Why They Make Good Investments
Shopping malls are inherently good investments partly because of their role in providing a tangible and communal shopping experience. They also are worthy of investors’ care because of their reduced risk compared to a stand-alone store. If one store in the mall goes out, you still have an ample collection of other brands holding the place together. With malls, you also don’t have to worry as much about advertising. Each company has its own marketing team, and therefore significantly reduces your need to advertise for them. With reliable marketing behind each store or amenity, you will have customers coming in and buying, and as long as people are buying, your investment continues to flourish.
This category of commercial real estate is manageable for investors to tackle, not requiring too much of a learning curve to jump into it. If you are looking to add one to your portfolio, contact Clagett Enterprises!
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, and Pinterest.