“I think you’re going to see a lot more of that,” Mr. Maloney said.
Several schools — like New River Community College in Virginia and Hagerstown Community College’s Center for Continuing Education in Maryland — have been holding classes in malls for years. But industry professionals say the trend is likely to accelerate.
With Americans buying less, many chains are asking mall owners for rent reductions, and are sometimes receiving them. That adds to the malls’ financial woes.
One of the nation’s largest mall owners, General Growth Properties, is laden with more than $25 billion of debt, has missed payment deadlines on its bonds, and is trying to avoid filing for bankruptcy protection.
Landlords are willing to lower rents for their best retailers — but only those that can prove financial distress. The landlords may not be able to play hardball for long, though. More major chains are expected to file for bankruptcy"
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