Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
Shopping malls and retail storefronts have long been at risk of mass closures due to the growth of e-commerce over the last several years.
Now that the pandemic has amplified the struggles of this industry, mall owners are scrambling to find innovative ways to keep their properties operating.
A new report from retail analytics firm Placer.ai suggests that this could be done by leasing these spaces to medical and office tenants.
Mall landlords must be creative when considering new tenants, and this can range from fitness facilities to coworking operators.
However, these tenants could still pose a big risk until the pandemic has settled down.
Medical tenants have been the exception to struggling retail as COVID-19 has accelerated the demand for these spaces.
Coworking could also come back as an alternative solution to vacant retail fronts with companies looking towards more flexible work arrangements in the future.
For instance, coworking operator Industrious has opened a few locations in malls across the country. After opening its location at Scottsdale Fashion Square in Arizona, the mall saw its year-over-year foot traffic double.
