You needn’t drive far to find a half-empty or totally abandoned shopping mall. Every city has them. The retail equivalent of roadkill. Acres of empty parking spaces. Bureaucratic architecture. Greasy food court.
According to The Wall Street Journal, mall vacancy rates reached their highest point in seven years during the third quarter of 2018. This despite a healthy economy.
Aventura Mall’s recent acquisition of one of Robert Indiana’s iconic LOVE sculptures raises an already lofty bar for the luxury retail facility’s arts program.
“We’ve created a gathering place that celebrates creativity and provides a venue where people can appreciate transformative works of art that typically are reserved for galleries and museums,” Jackie Soffer, Chairman and CEO of Turnberry Associates, the owner and manager of Aventura Mall, said.
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