New Report: Repurposing Retail Centers
January 15, 2020
Repurposing Retail Centers: Profiles in Adaptation, Repositioning and Redevelopment
Faced with competition from e-commerce and shifting consumer preferences for other retail formats and experiences, hundreds of traditional shopping malls have closed in recent decades, with many more closures expected in the coming years.
The NAIOP Research Foundation commissioned this report, written by by Jason Beske, AICP, to examine how developers are transforming struggling or closed malls into properties that fit within current market conditions and serve the needs of their surrounding communities.
Read the report
- Successfully repositioning or redeveloping a mall often requires that developers introduce new uses to the property.
- When adding new uses to an existing building, it often makes sense to consolidate the remaining retail space to improve sales and visitor convenience.
- A mall's location and layout can make it a good candidate for redevelopment.
- Working closely with local officials and members of the community is usually critical to a project's success.
- A successful mall redevelopment project often provides a community with significant economic and social benefits.