Find in the news:
BY COUNTRY

Mass Closure Predicted For Stores in Shopping Malls



The Green Street Advisors Real Estate Agency predicts that more than half of the stores in U.S. shopping malls will close within the next 12 months.
Shopping mall

According to analyst Vince Tibone, the years preceding the Coronavirus Pandemic were full of times when shopping centers may not be too worried about income, writes CNBC. But the Coronavirus pandemic, which weakened the U.S. economy, has created many serious problems for retailers who own store chains. And they are the anchor tenants for 60% of American malls.

Companies such as J.C. Penney, Macy's, Nordstrom, and Neiman Marcus are now facing many challenges. They have had many difficulties before, which have now been compounded by a significant drop in sales. It could lead to the bankruptcy of many of them and cause mass closings of retail outlets. However, J.C. Penney owns 850 stores across the country, which occupy 19% of the retail space. Macy's department stores account for 18% and Sears for 4%. And there is a high probability that more than half of them will close within the next 12 months. And that means serious trouble for the malls.

Shopping mall owners are already in a tense state, with several tenants like Gap not paying their rent during the pandemic. As a result, some landlords will not be able to pay their creditors in time and will have to stop operating. Massive closures can have even more disastrous consequences. And if companies like Simon Property Group have a certain safety margin, smaller shop owners may find themselves in an unenviable position.

According to Green Street Advisors, such a situation is for many years to come. And owners of shopping centers now need to adapt to the new conditions and accept the fact that in the future stores of various retailers will not be their primary source of income.

More about shopping malls in the USA



YESTERDAY, Italy:
The official opening will take place on December 16.
DAY BEFORE YESTERDAY, Singapore:
Gucci Beauty has made the new flagship as technologically advanced as possible.
Dec 6, 2022:
Fawaz Alhokair Group has announced plans to launch its own e-marketplace in the first half of 2023.
Dec 5, 2022, Spain:
The retail space is located on Don Juan de Austria street in downtown.
Dec 5, 2022, USA:
The renovation will create an incredibly special harbor experience.
Dec 2, 2022, China:
Next in the ranking are Zara and Zalando.
Friend
and Follow
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Central Children's Store GLA:370 192 SF
ADDRESS: Teatralnyi proezd, 5
Russia . Moscow region
Central Children's Store
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


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