Or - if you simply look at it as real estate - they bought that land when the supermarket was being built (and no one else thought it was valuable).
In this space - it's akin much more to having parking spaces near a sporting event or concert. In which case - there's lot of happy people willing to pay $20 for the privilege of parking.
Also - you should know that pricing goods based on "what they cost" isn't the proper way to valuate a property, service, etc. If that was the case, every user past 1,000 in most SAAS apps should just ask for their subscription to be free.
No, the mall bought the land and made the parking spaces. They are merely squatting on parking spaces that other people created. And the reason those parking spaces were created was to enable actual, productive business to take place, not to feed parasites.
In this space - it's akin much more to having parking spaces near a sporting event or concert. In which case - there's lot of happy people willing to pay $20 for the privilege of parking.
Also - you should know that pricing goods based on "what they cost" isn't the proper way to valuate a property, service, etc. If that was the case, every user past 1,000 in most SAAS apps should just ask for their subscription to be free.