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



May 24, 2024, USA:
Stüssy is preparing to launch the new archive store in Brooklyn, New York, for one month.
May 23, 2024:
Located on Broadwick Street in Soho, London.
May 22, 2024, USA:
Luxury fashion house Balenciaga inaugurated its first standalone store in Chicago, Illinois.
May 21, 2024, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
May 20, 2024:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
May 17, 2024:
David Beckham has signed a multi-year design deal with Hugo Boss
Friend
and Follow
Woodfield Mall GLA:2 200 000 SF
ADDRESS: 5 Woodfield Mall, Schaumburg, IL 60173
USA . Schaumburg
Woodfield Mall
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern


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