The Guardian on the decline of America's shopping malls.
"Dying shopping malls are speckled across the United States, often in middle-class suburbs wrestling with socioeconomic shifts. Some, like Rolling Acres
, have already succumbed. Estimates on the share that might close or be repurposed in coming decades range from 15 to 50%. Americans are returning downtown; online shopping is taking a 6% bite out of brick-and-mortar sales; and to many iPhone-clutching, city-dwelling and frequently jobless young people, the culture that spawned satire like Mallrats
seems increasingly dated, even cartoonish.
The trend is especially noticeable in the Midwest, a former blue-collar bastion where ailing malls have begun dotting suburban landscapes. Outside of Chicago, Lakehurst Mall
was levelled in 2004 and the half-vacant Lincoln Mall
is costing its host village millions in botched redevelopment plans. Dixie Square
Mall sat vacant for more than 30 years after serving as the backdrop for the iconic chase scene in the 1980 film The Blues Brothers. It was finally demolished in 2012. Many others will similarly lie dormant as they wait for the wrecking ball."
posted by porn in the woods
on Jun 19, 2014 -
The Death of the American Shopping Mall
"Online retailers are relentlessly gaining share in many retail categories, and offline players are fighting for progressively smaller pieces of the retail pie. A number of physical retailers have already succumbed to online competition including Circuit City, Borders, CompUSA, Tower Records and Blockbuster, and many others are showing signs of serious economic distress. These mall and shopping center stalwarts are closing stores by the thousands, and there are few large physical chains opening stores to take their place. Yet the quantity of commercial real estate targeting retail continues to grow, albeit slowly. Rapidly declining demand for real estate amid growing supply is a recipe for financial disaster."
posted by bookman117
on Dec 29, 2012 -