It will be two years in May since Credit Suisse came out with its bold prediction that up to 25% of regional enclosed malls would close by 2022. At the time, there were roughly 1,100 malls in the U.S., which translates to approximately 275 mall closings. Many skeptics rejected the idea, saying it would never reach that level, and that the dire calculation was way overblown.
We’re not even halfway to that 2022 end date, yet it’s starting to feel as if that forecast by Credit Suisse may not be so unreasonable. After all, the ongoing brick-and-mortar fallout experienced at regional malls is showing no sign of abatement.. . . more