We have all read the articles and seen the headlines: Malls Are Dying, Mall-pocalypse and other similar coverage forecasting the looming extinction the American mall. While these dire predictions might veer a little too often into hyperbole, they do describe a very real phenomenon. Malls are struggling. Online retailers have been steadily nibbling away at brick-and-mortar market share, and large department store dinosaurs have struggled to adapt to an evolving consumer marketplace.
Some malls are failing. Many more are underperforming. But malls as a
category are not dying–far from it. Category A malls will continue to
flourish, and many/most B malls still have great real estate
fundamentals going for them: they typically occupy valuable and
desirable real estate, with coveted locations frequently positioned near
major transportation hubs. There is a very real opportunity to turn
around an underperforming mall by redeveloping it into a new mixed-use destination.. . . more