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Smaller, struggling regional malls can ensure their long-term viability by transforming into mixed-use developments. But it is a painstaking process, says Jerry Hoffman, owner and president of Hoffman Strategy Group, in an Industry Insights article published by ICSC Research.
“Converting from a regional mall to a mixed-use center requires market intelligence, strategic planning and patient capital — which is why such conversions are not happening as quickly as anchor store closings,” Hoffman writes.
Hoffman offers guidance for revitalizing such properties, particularly on how residential use works well with these centers’ current retail and service tenants. The full report is available here.
By Edmund Mander
Director, Editor-In-Chief/SCT
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