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What’s Going to Happen to All the Empty Retail Spaces?
During a recent trip to the mall, I walked down a hallway. To get to the anchor store, I passed a number of vacant retail spaces ready to be leased. This has been a common sight, but one of those spaces has been occupied by the US Postal Service. Then, I reached a Macy’s. From the outside the store looked closed, but the door opened. From the looks of it, the US Postal Service looked like a new addition but Macy’s appeared to be on its last leg.
People have mail to send, and the Postal Service might lure some people into the mall. While they’re shopping, they can also visit the gym and fill their banking needs. It seems retail establishments have a lot of space available but not enough stores looking for a physical presence. Eventually, landlords are going to accept any tenant looking for the space.
Many malls and shopping plazas are going to look different in the future. In fact, former retail stores are going to be filled with all sorts of other necessities. Retail has been changing for decades, but not all locations reflect the current climate. Empty spaces need to be used, and shopping centers designed for 2001’s economy aren’t meeting 2021’s standards.
What Can Be Done With Empty Retail Space?
