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If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.
The brick and mortar retail market is overbuilt. Amazon-like (AMZN) companies are quickly stealing market share. And the weakest retailers (and landlords) are paying the price.
Class B malls in secondary / tertiary locations are faced with elevated tenant bankruptcies, rent concessions and dropping same store NOI.
On the other hand...
Class A malls in densely populated urban locations continue to do very well. Their sales per square foot are rising at