Some say a recession is on the way; others say it is already here, but according to the biggest owner of U.S. shopping malls, the threat of an economic downturn is not deterring retailers from opening new mall locations.
Simon Property Group (SPG) said on a conference call that they have not seen retailers backing out of deals to open up stores, according to CNBC. Its tenant occupancy rate is even up year-over-year, currently at 93.9 percent over 2021’s 91.8 percent.
