Medical Facilities Are Replacing Struggling Retailers In America’s Malls
As Amazon and e-commerce continue to challenge department stores and retailers across country, mall owners are looking for creditworthy tenants to maintain the rent and boost traffic, and medical facilities are increasingly becoming part of the solution.
Baby Boomers are becoming more mature, using more healthcare services than in the past, while Millennials are starting families and making doctors appointments for their kids. To meet this demand the healthcare industry is moving away from centralized campuses and into malls, Bloomberg reports.
Landlords are happy to have them balance out their tenant mix, and experts agree that clinics in malls is the wave of the future as landlords realize patients checking out the mall before or after their appointment will increase traffic. [Bloomberg]