This Is the Only Mall Operator I Own
I'm not a fan of most bricks-and-mortar retail concepts, and that means that I'm not going to bother with traditional mall operators. The chunky distributions that come with many of these retail landlords structured as real estate investment trusts (REITs) don't impress me. The only thing worse than counting on a single physical retail concept to keep humming along is counting on having several of them humming along together in perfect harmony.
The mall concept isn't dead, but it is dying. Shoppers have gone online. Multiplex operators, video game arcades, and other entertainment concepts are now playing out in consumer living rooms and the smartphones in their hands. Third-party takeout delivery apps now provide restaurants a way to reach in-home diners without having to pay overpriced mall rents. As mall traffic slides, the entire ecosystem hollows out. So I'm not buying most mall landlords, but that didn't stop me from investing in Tanger Factory Outlet Centers (NYSE: SKT).
Image source: Tanger Factory Outlet Stores.
Source Fool.com
