[wpdreams_ajaxsearchpro_results id=1 element='div']

What’s a Dead Mall?

[ad_1]

Dead malls are once-thriving shopping centers that have lost anchor stores and customers, leading to empty storefronts and closure. Changes in the economy and demographics can contribute to their decline, but they can be repurposed for other uses.

Dead malls are malls that are past their prime. While it was once a thriving place of commerce, a dead mall usually has an increasing number of empty storefronts and a pronounced reduction in the number of consumers buying in the stores that remain in operation. A number of different elements can contribute to the gradual deterioration of a once thriving mall, including changes in the economy and a shift in the structure of the neighborhood surrounding the mall.

One of the first signs that a mall is starting to turn into a dead mall is the loss of one or more anchor stores. An anchor store is usually a department store that serves as the main attraction for the mall. Many malls will have two to five anchor stores strategically placed around the cluster of smaller stores that are central to the mall layout. When anchor stores choose to relocate, consumers have less incentive to shop at the mall. As sales decline, smaller stores begin to relocate or go out of business. The end result is that the mall falls out of favor and begins to die.

The origin of the dead mall may have to do with changes in a city’s demographics. As growth begins to occur on the edge of the city, more malls and malls spring up to provide shopping opportunities to the rapidly growing areas. A mall located in a part of the city that isn’t growing will start to stagnate. As the city’s wealthier population begins to move away from the mall area, the surrounding area changes. Crime rates sometimes rise which is another deterrent for both consumers and the owners of the shops located in the mall. If the trend doesn’t reverse, stores and consumers start to retreat, leaving a dead mall.

Not all dead malls end up flattened after all the stores retire. In some cases, an abandoned shopping mall can be purchased by a local municipality and converted into office space. A new mall is sometimes taken over by new owners and transformed into a huge flea market.

A dead mall is sometimes referred to as a gray field. In essence, greyfields are sites that are already developed with plumbing and electrical services. Even if the dead mall is demolished, new buildings can be built using the utility links already on the site.

[ad_2]