Tax crap. An empty rental lot can be used to offset taxes from a more profitable location of the same owner - you just use virtual or real expenses such as mortgage payments.

The ultra rich are, once again, externalizing costs to society (because a run-down mall is a blight that takes down the value of everything around it) while taking and gobbling their profits.

The other alternative is that instead of niche specialty dealerships, you got national or even international chains moving in, that sell cheap-ass clothes from Bangladesh or other sweatshops in masses.