In response to the broad question, the answer is NO.
Unfortunately, the media has been proclaiming “the death of the mall” for some time now, and many people have accepted the thought.
Clearly, a number of malls have died, and others may still die. But as explained below, there are understandable reasons for the closures of a number of low performing malls.
However, many malls around the US are in fact thriving. In addition to the hundreds of “A” malls, which are performing better than ever, many malls with a strong ownership focus and commitment are reinvesting both physically and from a tenant mix perspective — and as a result, will continue to thrive.
It’s also important to note that many of today’s lower performing malls have the potential to be re-purposed away from a traditional retail focus, and can attain long-term viability in a new format that includes a wide range of uses such as entertainment, hospitality, healthcare, office space, residential, educational venues, personal and public services, etc.