Monday, July 9, 2018

Mall Makeovers, Big Box Availability Benefit Retail Growth

CoStar
To glimpse the future of retail development for the second half of 2018, look no further than the Village at Totem Lake in Kirkland, Washington.
The 45-year-old shopping mall will soon boast 850 luxury apartments, plazas with fountains, a pool, a gourmet grocer and a high-end movie theater.

The development is at the forefront of mall makeovers picking up across the country, transforming large, drab slabs of concrete into community centers. The phenomenon joins two other trends that will shape the retail sector for the rest of 2018 and beyond: developers seizing costly opportunities presented by closing big-box stores and brick-and-mortar retailers adopting eye-catching technologies to engage shoppers. . . . more