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Mall Redevelopment

Including a list of 100+ major shopping centers in active redevelopment, regeneration, and repurposing.
The redevelopment of shopping malls may be the most active asset class in 2020.

Shopping mall redevelopment and re-use projects are in planning or in active development throughout the U.S., and around the world.   Retail malls (and their anchor retail tenants) were already threatened by changes in out-of-home versus online shopping behavior, well before the Covid-19 pandemic.   The coronavirus has not only propelled these changes but caused new shopping sensibilities to emerge as lock-down and work-from-home orders persisted.


Depending upon local customer demand and interest from major new anchor tenants, shopping mall redevelopment is taking on a number of different approaches.   All the approaches are founded on highest-and-best use considerations, beginning with the quality of location.  In general, malls are well-located within their host communities and situated at well-trafficked streets and intersections.


Assuming a mall is well-located, the options for redevelopment or fuller adaptive re-use are numerous.   Some of the typical re-use scenarios for shopping mall redevelopment and re-use include:


  • Separate repurposing of a single major department store pad.  Pembroke Lakes Mall (Florida) is an example, where the former Sears department store is to be converted to a Round One Entertainment Center.


  • All or partial demolition of the existing mall to allow for a more vital mixed-use program to emerge.  Elephant & Castle mall in the U.K. is an example, where the mall and surrounding area will be razed to make way for a new $3.5 billion regeneration project to emerge.


  • All or partial demolition to allow for multi-family residential, whether ownership or rental.  Multi-family residential, whether ownership, rental apartments, and/or a form of affordable housing, or all potential viable uses in such re-purposing.


  • Re-leasing of anchor slots to major alternate users, such as health care, sports or fitness, or location-based entertainment.   Other non-retail users are also interested in these anchor slots, including data center operators, online retailers needing “last mile” fulfillment, and so-called dark grocery stores and ghost kitchens.


  • Complete re-tenanting of an existing mall through on major (new) anchor.  IKEA’s acquisition of 945 Market Street (the 6X6 Building) in San Francisco is an example.



Shopping Mall Redevelopment and Re-Use projects

A roof-off view of a major regional mall in an ideation exploration of re-use possibilities.



Shopping mall redevelopment and re-use projects are listed in the following exhibit, with some select details about the new program in consideration.


Our listing is under continuing editing – more projects and refined details, so check back here often.   And please contact with major shopping centers in planning for such redevelopment; we’ll appreciate such tips!

Shopping Mall Redevelopment and Re-Use

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