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Experts predict a revaluation of shopping centers



Turning a shopping center devastated by a pandemic into a warehouse may reduce its value by 90%.
Shopping mall

Reduced visitor traffic and the closure of many retailers have put the survival of many shopping centers in question. Several hundred of the approximately 1,100 U.S. shopping malls are expected to close in the next few years.

One way to solve this problem would be to change shopping malls' concept. They will eventually be converted into e-commerce hubs, warehouses, educational centers, medical facilities, or even residential complexes.

However, according to an analysis by the British financial conglomerate Barclays, such reorganizations will eventually lead to a massive property value decrease. The company predicts that between 15% and 17% of shopping centers in the U.S. will need to be renovated for other purposes in the long term. As a result of this process, real estate values will fall by 60% to 90%.

Shopping centers were in a vulnerable position during the pandemic. The flow of buyers into the shopping mall decreases by about 10% when an anchor tenant closes. As a result, other retailers are also gradually starting to leave or close. The vacancy of more than 20% puts the existence of the entire shopping center in question. As a result, the malls will be in mass order either close or entirely change their concept.

More about shopping malls in the USA



YESTERDAY, USA:
The company's goal is to open new stores, renovate existing ones, and develop online retailing.
YESTERDAY, USA:
Despite the gradual emergence from the lockdown, shopping malls continue to face significant challenges.
DAY BEFORE YESTERDAY, USA:
It plans to open about 40 such mini-stores in an area of about 50 square feet, which will sell the brand's goods.
DAY BEFORE YESTERDAY, USA:
The last of the closed Apple Stores in the U.S. was reopened the other day - it is located in Texas.
Mar 1, 2021, USA:
Filling your cart with items and leaving the site without making a purchase has become the post-pandemic equivalent of window gazing for young shoppers.
Feb 26, 2021, USA:
It will be the most significant expansion in Sephora's history, demonstrating its confidence in the retailer's future.
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