Retail Center Occupancy Is High, with Sales Rising in Upscale Malls/Online Sales Hurt Stores

The largest enclosed shopping malls are sometimes referred to as “super-regional centers” (malls which include at least three department stores and at least 800,000 square feet of retail space.) Such malls often contain more than 1.2 million square feet.

Other types of shopping center properties, such as power centers and lifestyle centers, have been developing rapidly in recent years, in many cases robbing traffic from traditional malls. A “power center” is typically an open-air complex of category-dominant anchors such as category-killers, home improvement stores, discount stores and warehouse clubs. A “lifestyle center” is an open-air, highly landscaped configuration of approximately 50+ stores. Generally located near upscale neighborhoods, lifestyle centers offer leasable retail areas of 150,000 to 500,000 square feet, with at least 50,000 square feet of space typically dedicated to upscale national specialty stores such as Williams-Sonoma.

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Retail Center Occupancy Is High, with Sales Rising in Upscale Malls/Online Sales Hurt Stores, Business and Industry Trends Analysis

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