1. As Malls Die, Landlords Imagine Other Uses.
- Author
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PLEVEN, LIAM
- Subjects
- *
SHOPPING malls , *RETAIL industry , *LANDLORDS , *ELECTRONIC commerce , *RETAIL stores , *REAL estate development , *BANKRUPTCY , *ECONOMICS - Abstract
The article discusses a trend in the U.S. in which shopping malls were being converted into other uses by landlords as a result of a combination of increased electronic commerce (e-commerce), overbuilding of malls, and retailer bankruptcies such as RadioShack Corp., American Apparel Inc., and Wet Seal Inc. The article cites statistics from the real-estate data firm CoStar Group Inc. to state that by the end of 2015 there will be over a square foot less of retail space per person in the U.S. than in 2009.
- Published
- 2015