Retailers are already lining up to take over the approximately 400 shuttering Bed Bath & Beyond stores in strip malls, where customers can easily park in front. But 400 Foot Locker stores set to close in middle and lower-tier regional enclosed malls around the country will stay vacant for much longer, say retail landlords and real estate experts.
The vacancy rate for class B and C malls during the first quarter of this year was 10.8%, an all- time high, according to real estate data firm CoStar Group. The compares to a 6.6% vacancy rate for class A malls. “We’re seeing the continued slow death of underperforming malls in areas that are no longer prime shopping corridors,” said Brandon Svec, the national director of US retail analytics at CoStar.
Here comes Biden's recession...
Biden economy
Doesn’t surprise me at all after the last time I went into the store and workers standing around on their phones not helping anyone