Find in the news:
BY COUNTRY

Malls Moving On From Department Stores



Mall owners are finding that they must evolve as well in order to remain relevant with today’s consumer.
As the retail landscape continues to change, mall owners are finding that they must evolve as well in order to remain relevant with today’s consumer. According to MarketWatch, that’s leading many to realize that their reliance on department stores as a means to drive foot traffic is a theory that’s best left in the past.

Take the case of the CoolSprings Galleria in Franklin, TN. A once thriving Sears store has been shuttered, and rather than replacing it with another big box retailer, the space has been divvied up into smaller sections. The former Sears space now houses a Cheesecake Factory, as well as retailers American Girl and H&M. 

"The definition of an anchor has changed. Cheesecake Factory does as much business as Sears used to do," says Stephen Lebovitz, chief executive of mall owner CBL & Associates Properties. 
CBL & Associates isn’t alone in its thinking among mall owners. General Growth Properties has shifted its anchor strategy over the past five years, and has actually taken back space from 65 department stores across its properties. The former department store space is now occupied by tenants that include Wegmans Food Markets, 24 Hour Fitness and Dave & Buster’s. 

"The dependence of malls on department stores isn't what it was 25 years ago," said Sandeep Mathrani, General Growth Properties CEO.

Mall giant Simon Property Group has been in front of the trend as well. The mall owner has replaced 50 department stores over the past 15 years, and now houses tenants such as Target, Forever 21, and Primark in their place.

Florida mall

Simon’s Florida Mall in Orlando, FL offers an interesting case study in the company’s reducing reliance on department stores. The company tore down both a Nordstrom and a Saks Fifth Avenue, and went in a different direction entirely. The space that Nordstrom used to occupy now houses a Dick’s Sporting Goods and a family geared attraction called the Crayola Experience. Saks has given way to a dining pavilion that houses nearly two dozen restaurants.

Despite the increase in the trend overall, mall owners are facing roadblocks in certain circumstances, as Green Street senior analyst DJ Busch explains.

"Landlords have tried to be more active in buying back space, but there is a big gap in what they are willing to pay and what department stores are asking," he says. 

Related shopping malls and stores:

More about shopping malls in the USA



DAY BEFORE YESTERDAY, China:
Zhuhai Wanda Commercial Management Group filed for an IPO on the Hong Kong Stock Exchange.
Oct 25, 2021, Finland:
Lippulaiva declared K-Supermarket, Prisma, Lidl, and Tokmanni as anchor tenants.
Oct 25, 2021, USA:
About 200 terminals to sell bitcoins were installed in stores operated by Walmart.
Oct 22, 2021, USA:
Cyber-sports arenas, basketball courts, and aquariums are replacing storefronts and retail spaces.
Oct 22, 2021, USA:
The video host will host a week of "live shopping" as part of its "YouTube Holiday Stream and Shop" event.
Oct 21, 2021, India:
Flagship stores at the mall include Diesel, Replay, Hugo Boss, Emporio Armani, and Paul Smith.
Friend
and Follow
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Shopping City Süd GLA:1 862 156 SF
ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
Shopping City Süd


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us