It’s a sign of the times, but last week the Orlando Business Journal reported that the owners of Orlando Fashion Square Mall have put the property up for sale.
It’s Central Florida’s oldest major mall, having opened in 1973, but it also sits away from the busy tourist areas. As a result it generates over $100 per sq foot less of profit than the company’s other properties.
Pennsylvania Real Estate Investment Trust, which owns the mall, will also sell off three Pennsylvania malls and one in New Jersey, to help pay off debts.
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