www.reit.com Over the years, the expiration date on the regional mall concept has often been forecast, but this staple of the American retail industry continues to strive and thrive. Bobby Taubman, chairman, president and chief executive officer of Taubman Centers, Inc. (NYSE TCO), spoke with REIT.com during REITWeek 2011: NAREIT's Investor Forum about why the mall has remained such a mainstay. "The regional mall has a fundamental competitive advantage over all other forms of retailing that the customer highly values, and that is convenience," Taubman said. Customers want to be able drive to one location and be able to find anything they need in a safe, clean destination. Taubman said he views malls as a "flexible envelope" that changes as retail trends change and store sizes and configurations vary. "It is the flexibility and the tremendous convenience that the customer gets that are really highly valued," he said. While the overall mall concept remains viable, there are certain characteristics that make up a successful property. At the end of the day, Taubman said it all translates into sales. "Sales are all about the shops," he said. "You have to have the best stores because at the end of the day, if you are going to a restaurant, you don't care where it is, you care how good the food is. To us, the food, or the real product, is the stores." Taubman said it is important to have leading department store anchors that are responsive to a specific location's demographics ...

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