New Tech Allows Shopping Centers To Install Turnkey Theme Park Experiences
Shoppers don’t often go to the mall to meet basic needs, they’re looking for something more—an experience they can share with family and friends. While most megamalls feature amusement park rides and indoor ski slopes, regional malls in small markets can’t justify the capital expenditure required for such attractions; however, that just got easier. New technologies are allowing centers to offer a theme park-like experience, but with turnkey convenience and the economies of scale that come with amortizing design costs across multiple locations. DreamWorks and Crayola, and companies like them, are producing new attractions that can fill excess space in a regional mall and draw in more visitors. Many shoppers that live in smaller metros do not have a quality theme park nearby, and now retailers and mall owners can turn centers into must-visit family destinations. Indeed, investors might consider buying and repositioning a B mall to become a themed destination.
Read more at: https://www.bisnow.com/national/news/retail/theme-park-in-a-box-new-tech-allows-shopping-centers-to-install-turnkey-theme-park-experiences-59574?utm_source=CopyShare&utm_medium=Browser
To discuss commercial mortgage financing contact Liberty Realty Capital here.