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The Wall Street Journal

The New Retail Tenant: A High-Tech Amusement Park

The New Retail Tenant: A High-Tech Amusement Park

As traditional retailers close their doors, immersive attractions are stepping in to fill the surplus real estate

  • agosto 22, 2018
  • min read

The Wall Street Journal

The New Retail Tenant: A High-Tech Amusement Park

Battered by online shopping and millennials’ changing consumption habits, traditional malls are suffering. Mall vacancy rate hit 8.6% in the second quarter of 2018, the highest since 2012, according to data from real-estate research firm Reis Inc. Malls have resorted to leasing space to offices, churches and gyms to lure foot traffic.

But according to some retail experts and real-estate developers, reports of the mall’s impending death have been exaggerated. Top malls in desirable locations continue to attract tenants willing to pay high rents. “There’s a myth out there that historical retail is dead or dying or will die soon,” said Mikey Vu, a partner with Bain & Company. “We just don’t think that’s true.” While many Americans get their toilet paper and milk delivered, they still want to gather in physical spaces and for meals and entertainment. 

The Wall Street Journal