The FT has covered the issue really well in the last few months and it’s a bit like an advert for the Mall of America in Minnesota but the Observer had a good piece on the decline of the US retail sector yesterday. In addition to the statistic that the US has five times more retail space per capita than the UK, it had a few new eye-catching facts
It has been three years since a major new shopping mall opened in the US, leading even some mall operators to speculate that the last one has already been built. Of the roughly 1,200 spread across the country, less than half are expected to be in operation five years from now.
There may some journalistic hyperbole here given the ULI forecasts for retail rents. It’s hard to reconcile the two.