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Grand Pronouncements

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Without significant reinvention, the typical mall concept that most Americans grew up with will keel over and die in the next 15 years! That bold statement (or a reasonable facsimile thereof) belongs to mixed-use guru Rick Caruso, but North American Properties' Mark Toro relayed it to a gathering of real estate professionals in Buckhead this week. Though hardly an objective observer, Toro said he agrees with the malls-are-dying notion because modern people want shopping and dinning within walking distance, and the idea of driving to confined shopping habitats has lost its luster. Agree? [BuckheadView]