Dec
27

Charlotte Malls Staying Healthy With Occupancy Rates Over 90 Percent

By
– Charlotte Observer

Most Charlotte-area malls have made enough money from tenants to comfortably pay their mortgages despite a deep recession and record joblessness that sapped consumer spending, an Observer analysis shows.

The malls have been bustling with shoppers during the holiday rush. The buildings also have kept the vast majority of their stores occupied, generating steady rent to stay current on their commercial loans, the most recent loan data show.

Three of the area’s four major malls – Carolina Place, Concord Mills and Northlake Mall – reported occupancy rates above 90 percent. Generally, that’s considered the cut-off point for a healthy mall.

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