Jeff Yastine believes the death of the retail malls in 2017 may be at an end. Shopping districts remain empty, UPS freight vans fill the streets, Amazon continues to make deliveries, and airborne delivery drones are the expected wave of the future. According to rumor, Brookfield Property Partners offered GGP a $14.8 billion buyout causing their stock to increase eighteen percent. This was on the heels of the forty percent drop GGP suffered in July of last year.
Brookfield understands despite the lost traffic due to internet retail, many possibilities regarding revenue have been overlooked. GGP made a deal for one of their mall properties in Seattle with a national developer of real estate. According to the CEO on tumblr.com, part of the land will be redeveloped as apartment buildings. Many investors besides Brookfield feel the Amazon threat is done, and are now bargaining for low cost mall real estate.
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According to stocktwits.com Miller Value Partners is betting on the retail sector for malls. Bill Miller is the mutual fund manager, and recently purchased stakes in CBL Properties and Washington Prime Group. These are both mall-based REIT’s. Berkshire Hathaway has redeveloped dead Sear’s stores, and bought into Seritage Growth Properties and STORE Capital. The Elliott Management Corporation’s Paul Singer has a position regarding the Taubman Centers. Amazon is a large part of the reason so many malls have failed, but when mall prices fall low enough the bargain hunters will come.
Jeff Yastine received a nomination for a Business Emmy Award in 2007. This was due to his report concerning the underfunded bridges, roads and public transportation in America. In 2002, he was an important part of an NBR journalists team who won an award in Financial Journalism for excellence from the Society of Certified Public Accountants in New York State. The award was for a special report covering the bond market of the nation. Jeff Yastine is the head of the Total Wealth Insider featuring opportunities available under-the-radar. He provides a way to achieve a more prosperous, freer and richer life. This is an incredibly successful financial newsletter. Every month, Jess Yastine uncovers new stock information.
Learn more about Jeff Yastine: http://www.talkmarkets.com/contributor/Jeff-Yastine/