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Malls Redux: Maybe They're Not Dying

Yesterday we considered the specter of a slow death for malls given a tilt toward shopping centers in current retail growth; today we have reason to reconsider. Why? A large and rather successful real estate firm and its leader are making a big bet that malls are going to be around for a while. Barry Sternlicht and Starwood Capital Group recently acquired majority interest in a portfolio of mall properties scattered across the U.S. and aim to reinvigorate them. The creator of the W Hotel hints that some of that brand's hip sheen could be splashed on the malls (perhaps in the same way the firm has approached residential real estate with its ST Residential affiliate, owner of a few Atlanta condominium projects you may know). [WSJ]