jerryking + taubman   1

Has America Built Its Last Major Mall? - WSJ
By Esther Fung
June 27, 2017

Appetite for building enclosed malls of more than 800,000 square feet has dried up. Department stores, once dependable foot-traffic generators, are closing locations amid stiff competition from off-price retailers and the growth of online shopping.

A mall construction spree in the 1970s and 1980s has left in its wake aging properties at a time when there is little capital available for upgrades. As anchor stores close, more mall space sits idle and foot traffic wanes, hastening the march toward death.

In all, there are roughly 1,200 malls in the U.S., and some analysts see the figure bottoming out at 500 to 800.
shopping_malls  retailers  e-commerce  commercial_real_estate  Taubman  foot_traffic  department_stores 
june 2017 by jerryking

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