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The Financial Times reports that new figures from data provider Reis, a division of Moody’s Analytics, suggests that 9.3 percent of stores in America’s shopping malls are vacant, “a 10th more than a year ago.”

The story notes that “until recently, the robust US economy has helped the retail property market remain resilient despite the rise of online shopping. Landlords are still demanding 8 per cent higher rents in regional malls than they were five years ago.

“However, thousands of store closures since the turn of the year, and signs that consumer spending is faltering, have made them increasingly concerned about the outlook for malls.”

FT writes that “US retailers have set out plans to close 5,480 stores, according to Coresight Research — almost as many as the 5,730 announced in all of 2018.”
KC's View:
Getting the week’s MNB award for stating the obvious is Beau Armstrong, chairman/CEO of based Stratus Properties, who tells FT, “‘We don’t think [bricks and mortar] retail is going to go away. We just think it’s going to evolve into something a little bit different,’ adding that he expected sites to be smaller and sell ‘things that you just simply can’t get from Amazon’.”

Gee. Y’think?