The Economics (and Nostaligia) of Dead Malls

Leland Consulting Group’s Chris Zahas was interviewed for a New York Times article profiling struggling malls across the country. With well over a billion square feet of mall space nationwide, many communities and property owners are thinking hard about how to reposition or redevelop their share of this once-thriving retail format.

A closed camera store at Owings Mills. The fundamental problem for malls is that the country is “over-retailed,” said one real estate economists, Christopher Zahas. A long boom in building retail space has left the United States with many more stores than it needs. (C) Matt Roth / New York Times

#Malls #retail