Despite challenges, money pours into open-air malls

As traditional malls began a steep decline some 20 or more years ago, the prevailing theory among retail industry insiders was that to continue to attract shoppers the properties had to reinvent themselves.

There had to be more creativity in attracting anchors beyond the tried-and-true department stores. Owners needed to offer more than just stores, they had to provide experiences as well. The term and concept of the open-air lifestyle centers came into vogue.