Plus, legal action could put your reputation at risk, which will only cause further financial hardship. Shoppers and tenants alike could file lawsuits against you, which could result in serious financial distress. Damaged property, fires, injuries these are just some of the risks that you face. There are certain risks that come along with the responsibility of owning a shopping center or mall. Shopping centers can be of the strip mall type with as few as five tenants or may be large mall-type mega centers. The leases can be offered on a short-term basis or extend through a number of years. Shopping centers lease space to retail and service tenants. Your tenants rely on you to provide them with a safe space where they can conduct their business, and shoppers count on you to offer them a safe and secure space where they can buy the items they want and need. However, owning a shopping center or a strip mall is more than just an investment it's also a responsibility. Consumers are always looking to purchase products, and businesses are always looking for spaces where they can easily supply their consumers with the products that they seek. Vacancies can indicate a financial problem.īeing the owner of a shopping center or a mall can be an excellent investment.

While the lease agreement spells out who is liable for losses, the shopping center is generally responsible for common areas, including parking lots, sidewalks and all maintenance tenants are responsible for the specific unit that they lease. The center can have as few as five tenants or may be a large mall with hundreds of tenants. A shopping center is a building or group of buildings with parking facilities in which space is rented to stores, professional offices, services, and eating establishments. Shopping Center And Strip Mall Insurance.

Building a mall cost