Nov
09
Redeveloping Malls’ Retail: An $8B Business
ByA recent study by JLL shows that mall owners are investing millions in renovating their assets to meet the needs of the modern consumer. While there are risks to these costly redevelopments, the report’s author explains why the reward makes them worthwhile.
Examining 90 major malls across the country, a new JLL report found that the majority have undergone a makeover, including at least common area improvements, rebranding or tenant upgrades over the last three years. Other malls have gone further, adding new uses, design elements or expansions to entice shoppers, especially Millennials looking for a 21st-century retail experience. In total, these malls have undergone more than $8 billion in renovations since 2014…
