Macerich continues to feel the bite of the retail rattlesnake as the mall landlord posted declines in first quarter revenue and funds from operation compared to the same time last year. It has been dealing with store closures — particularly Sears — and tenant bankruptcies across its portfolio, while trying to redevelop other lagging properties. The Santa Monica-based real estate investment trust’s net income for the quarter was $7.8 million, an improvement on the $33.6 […]
source https://therealdeal.com/la/2019/05/02/macerichs-struggles-continued-in-q1-amid-store-closures-bankruptcies/#new_tab
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