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Simon: “New Development is Dead for a Decade.”
by David Bodamer February 2nd, 2009
During Simon Property Group’s earnings call, CEO David Simon dropped this bombshell: “The new development business is dead for a decade,” Simon said on today’s call. “Maybe it’s eight years. Maybe it’s not completely dead. Maybe I’m over-dramatizing it for effect.”
Ugh.
Related Topics: Commentary, Development, News, REITs, Retail Real Estate |