Shopping Malls’ New Product: Fun
Many U.S. malls are experimenting with entertainment-focused tenants
Go-kart racing, indoor rope climbing and laser tag aren’t activities typically associated with back-to-school shopping, but that is what some shoppers at a Syracuse, N.Y., mall are doing.
Entertainment offerings at malls have generally been limited to dining and maybe a multiscreen movie theater alongside the main draw of traditional retailers. But many U.S. malls, like Syracuse’s Destiny USA, are experimenting with entertainment-focused tenants more likely to be found in an amusement park than a shopping center.
Among the newcomers: high-tech golf driving ranges, skydiving simulators and “escape rooms,” in which players are locked and challenged to find a way out by looking for clues and solving riddles.
I have been using Blue Vault Partners for the past five years. I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs. The reports help me analyze which sponsors are doing a responsible job of managing their offerings. This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.