December 4, 2023· 51 min

What Dead Malls Tell Us About the Future of Commercial Real Estate

Liza Crawford

Orality

Model

73%

Oral-dominant (speeches, podcasts, storytelling)

Speaker Breakdown

HostTracy Alloway(1,460 words)

M:29%

HostJoe Weisenthal(1,480 words)

M:94%

GuestLiza Crawford(5,479 words)

M:28%

Oral Indicators

Agonistic25%

literally, completely, absolutely

Engagement69%

you, our, your

Memory Aids100%

listen, now, like

Repetition100%

know (89x), like (71x), they (55x)

Parallelism93%

And I'm Joe Weisenthal...., But when I did, it was pretty ..., And that one is much more busy...

Sound Patterns50%

47 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases6%

at the end of the day, you know what, i mean

Literate Indicators

Hedging8%

maybe, probably, perhaps

Passive Voice4%

being reviewed, be identified, is designed

Abstract Nouns19%

investment, recommendation, question

Subordination7%

because, while, though

Sentence Length36%

Avg: 14.1 words/sentence

Word Complexity49%

investment, analyze, anticipate

Academic Markers3%

according to

Impersonal Style31%

655 personal pronouns found

Descriptive Style91%

literally, completely, absolutely

Description

There's been a lot of worry over the future of commercial real estate — especially the outlook for office buildings — in light of higher interest rates and the trend towards work from home. But years ago, Wall Street was worried about a different type of CRE: shopping malls. Back in the 2010s, loans backing malls were souring fast, as customers ordered more online and major anchor tenants (like Sears) shuttered their doors. There were sites such as Deadmalls.com that tracked closures around the country, complete with apocalyptic-looking photos of empty buildings. But of course, while the overall number of shopping malls in the US has dropped, not all of them disappeared. Some have even thrived. So what can the shopping mall experience tell us about the outlook for offices and the broader commercial real estate market? On this episode we speak with Liza Crawford, a long-time CRE veteran and trader of commercial mortgage-backed bonds, who's now co-head of securitized at asset manager TCW. See omnystudio.com/listener for privacy information.

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