Imaginuity: Three reasons Metrocenter investment portends the future for struggling malls

Jeff Geyser said calls started when word got out that the Metrocenter was being repurposed into Phoenix's next urban core. The East Valley developer had just paid $5.8 million for 15.5 acres with roughly 125,000 square feet of power center on it near the mall at 29th Avenue and Dunlap Road Geyser said plans likely call for tearing out more than half the vacant retail strip, and pumping big bucks into upgrading 50,000 square feet of stores he's keeping. Carlyle Development Group bet millions...