25% of U.S. malls are expected to shut within 5 years. Giving them a new life won’t be easy

Aug 27

KEY POINTS

Coresight Research estimates 25% of America’s roughly 1,000 malls will close over the next three to five years.
The coronavirus pandemic has accelerated a demise that was already underway.
“Just because retail space has gone vacant or remained fallow does not mean that it is automatically a good candidate for repurposing into industrial space,” Moody’s Analytics real estate analyst Victor Calanog said.
According to data pulled by Moody’s Analytics REIS, apartment development in the U.S. is expected to be down 15.6% in a post-Covid-19 world. Office development is set to drop 10%, it said, while retail falls 15.7%.
Industrial development, meantime, is expected to pick up 3.6%.

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