That presents a challenge for Starwood Capital, since many mall owners and industry experts predict that shoppers and retailers increasingly will patronize stronger malls to the detriment of average and subpar malls.
The first couple were hosting black-tie parties at the White House before heading back down to the National Mall for the capital city's nighttime festivities.
Mall owners, in turn, are spending most of their time and capital redeveloping proven malls to generate more sales rather than pouring money into struggling properties unlikely to produce a similar return.