This podcast episode examines the decline and challenges faced by aging malls, with specific focus on the Berkshire Mall in Wyomissing, Pennsylvania, owned by Namdar Realty Group and Mason Asset Management. The current state of the mall is described as dilapidated and deteriorating, raising concerns among community members who see its potential and significance. Namdar's business strategy involves acquiring malls at low prices, subdividing them, selling off valuable assets, cutting costs, and appealing for lower property taxes. This approach, while profitable for Namdar, has led to local dissatisfaction due to lack of upkeep and investment. Despite efforts to fix the most pressing issues, several code violations still need to be addressed.
