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August 21, 2017

Cover Story

Main Streets are Mean Streets, and Malls are Meandering with Lower Market Share These Days.

Professional commercial realtors see expeditious planning and execution as key to avoiding blight and preserving property values.

A June report from Credit Suisse estimates that between 20% and 25% of the nation’s shopping malls will close in the next five years as shoppers’ habits continue to shift from in-store to online buying. Traditional mall anchors such as Macy’s, J.C. Penney, and Sears have announced widespread store closings in recent months, and a number of niche clothiers like American Apparel and BCBG Max Azria have filed for bankruptcy. The report estimates that around 8,640 stores will close by the end of the year. These problems will be particularly acute in retail-intensive areas like shopping streets and malls, the report states.

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