Someone on another board criticized my post syaing the Hills Country Galleria is a "high end mall in the middle of no where" and that's why it went under.
mmm...I don't think so. Do a drive thru of Hillsboro Outlet Mall right on I35 on the most major north-south USA road and not a "high end mall" by any means.....80% vacant...empty......quiet......almost peaceful, you might say.
This flash-in-the-pan rally of banks and some others is not backed by fundamentals imho....just wishful thinking.......it may turn out ok by the end of the year but the odds are stacked against it at this point despite the "glimmer of recovery" trickle of good news....and most of those cheerful words are just that.....words....no substance imho.
The Hill Country Galleria in Bee Cave, facing foreclosure, has filed for Chapter 11 bankruptcy protection.
Galleria tenants, which include Dillard’s, Cinemark Theater, Barnes & Noble and Dick’s Sporting Goods, will continue to operate, the press release said. The bankruptcy filing says the project has between $100 million and $500 million in assets and a similar amount of liabilities. The foreclosure posting valued the mall at $192 million.