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US mall owner diversifies, rents out parking lots for outdoor movie theaters, concerts - Business Insider

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A US mall owner is renting out its parking lots for drive-in movie theaters and concerts as it finds creative ways to make money as the retail sector continues to be squeezed

US mall owner Brookfield Properties has signed a deal with an events company to bring drive-in theaters, showing outdoor movies and concerts to its parking lots.

Its decision to diversify its business comes as the retail sector continues to be battered by the coronavirus pandemic.Mall owners in the US are starting to get more creative about how they can make money during the coronavirus pandemic as the retail sector continues to be hit hard. A spokesperson for Brookfield told Business Insider that these outdoor venues are currently set up at three of its malls in Denver, Minneapolis, and Dallas. However, they have plans to roll this out to more locations in the future.

"As with all of our tenants, it is our job to do everything we can to help make them successful in our shopping center communities. Kilburn, however, will handle all of the logistics, from the technology, films and the ability to stream Bluetooth in your car, etc.

 

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