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No. of Recommendations: 3
gtw999,

Here's some more (local) color on the mall. It violated the 3 basic real estate rules: location, location, location. Original developers got county money that was meant to help the economy of that area. Pittsburgh is unique geographically (hills and valleys) with many pockets of differing economic conditions. The area where the mall was built is surrounded by old rust-belt towns that are still depressed.

http://www.post-gazette.com/opinion/brian-oneill/2017/01/22/...

More than 16 miles northeast of the Point, Pittsburgh Mills is the largest and most rural project to which Allegheny County ever gave a tax increment financing deal. It’s always been too far from the county’s largest population centers to warrant its sprawling 2.1 million square feet.

Directly North and directly west of Pittsburgh shopping and residential areas are thriving.

Joe
A resident of Pittsburgh and investigating boosting his REIT investments but worried about retail bricks and mortar.
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