Consolidation and technology benefit mall managers

Mall property managers and their tenants are seeing the benefits of consolidation in the industry and technology advances, according to the National Real Estate Investor.

The consolidation trend that has occurred in the industry over the last few years is making it easier for retailers to negotiate multiple leases with a single owner, enabling them to open stores faster. Chicago-based General Growth Properties, the nation’s second largest shopping mall owner, manager, and developer, reports that it does multiple leases on a daily basis.

Technology is also benefitting both owners and retailers. Lease negotiations can now be conducted more efficiently electronically by viewing documents online instead of having to send them back and forth through the mail. In addition, mall owners are increasingly providing tenants with high-speed Internet access to enable them to establish a Web presence and to fill online orders locally.

Buyers & sellers, visit www.texasrealestate.com.
REALTORS®, visit www.tar.org.