FastSaying

Strip malls are history.

Jeff Bezos

Jeff Bezos

HistoryMallsStrip

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In the 1954 Internal Revenue Code, a Republican Congress changed forty-year, straight-line depreciation for buildings to permit 'accelerated depreciation' of greenfield income-producing property in seven years. By enabling owners to depreciate or write off the value of a building in such a short time, the law created a gigantic hidden subsidy for the developers of cheap new commercial buildings located on strips. Accelerated depreciation not only encouraged poor construction, it also discouraged maintenance...After time, the result was abandonment.
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Anna's Linen stores are mostly in what are called 'B' type locations or strip malls. We think that there's a lot of real estate currently available in that format. The other positive for the retailer is its appeal to ethnic communities, which we believe are underserved in the value-priced home furnishings arena.
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They'll strip everything out and go over it bolt by bolt, rivet by rivet.
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