The Wall Street Journal has a fascinating story today on where and why dozens of malls across America are losing retailers and “dying.” Retail sales have been hammered by the recession and malls that were struggling before the downturn are now on the brink.
One industry rule of thumb holds that any large, enclosed mall generating sales per square foot of $250 or less – the U.S. average is $381 – is in danger of failure. By that measure, Eastland is one of 84 dead malls in a 1,032-mall database compiled by Green Street.
Just one Montana mall, Holiday Village in Great Falls, made the list.
<a href="http://online.wsj.com/public/resources/documents/info-DEADMALL0905.html" title="And check out the Wall Street Journal’s interactive graphic.”>And check out the Wall Street Journal’s interactive graphic.