The bifurcation of America’s malls does not appear to be ending soon, according to some retail real estate experts.
With announcements of department store closures, coupled with the troubles in the specialty apparel sector, some U.S. malls will continue to struggle, while the few top malls will continue to do just fine.
Lower-quality malls in markets with smaller populations and lower incomes will continue to close—a trend that is underway today
As the country’s top malls have already been working to reposition themselves, transforming into entertainment centers to help draw in consumers, lower-quality malls in markets with smaller populations and lower incomes will continue to close—a trend that is underway today, says Suzanne Mulvee, director of research at CoStar, a commercial real estate data firm.
View entire article here in National Real Estate Investor.
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