Kohlberg Kravis Roberts’ recent $94 million acquisition of the 1.14-million-sq.-ft. Broadway Mall in Long Island highlights the fact that the mall is far from dead. In the past few years, much has been made of the fact that the enclosed regional mall concept is outdated and customers are gravitating toward open-air lifestyle centers and street level retail. New mall projects have been few and far between, while REITs that have traditionally specialized in regional mall development, ...

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