One promising new group of tenants for struggling malls are walk-in medical clinics, according to an article on the Bloomberg Businessweek website.
There were 9,400 walk-in clinics in the U.S. in 2013, according to the Urgent Care Association of America, a 20 percent increase since 2009. A little more than a third are located in strip malls and shopping centers.
For mall owners, urgent-care clinics make desirable tenants. Clinics often pay higher rents (about $25 per square foot), have better credit and tend to sign longer-term leases.
The clinics look for retail outlets with high visibility, high traffic patterns, and signage capabilities, an approach known as the Blockbuster strategy, after the video rental company that wound down last January, because its shuttered retail locations often suit the needs of mall clinics, the article said.
Contaminants Under Foot: A Closer Look at Patient Room Floors
Power Outages Largely Driven by Extreme Weather Events
Nemours Children's Health Opens New Moseley Foundation Institute Hospital
Code Compliance Isn't Enough for Healthcare Resilience
Ribbon Cutting Marks First Phase Completion for New Montefiore Einstein Facility