Thursday, November 2, 2017

Shaping the Future of the Mall

For every industry news article I read full of dire predictions for retailers and retail properties of many types, there seem to be twice as many about the fate of the nation’s enclosed malls.

There are many malls in the United States, comprising a significant portion of the retail real estate landscape. Of just under 1,100 malls, quite a number are are facing severe challenges, and simply shouldn’t remain as malls; others still have a legitimate and even vital role to play in the overall retail environment.

Yes, traditional mall anchors such as major department store chains are going through a period of significant readjustment, and traditional smaller tenants such as apparel merchants are facing challenging times, or disappearing altogether. At the same time, new less traditional tenants are seeing the advantages of leasing mall space – notably health services and entertainment venues for all ages – and major retailers who have had no, or little, mall presence are looking at vacant mall anchor space in a new way. . . . more

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