Right Here, Right Now: Reinventing the American Mall

CBL Properties’ Stephen Lebovitz and CBRE’s Rich Frolik explain how malls are being transformed into high-performing, mixed-use assets. From casinos and hotels to pickleball and movie theaters, malls are evolving to meet modern demand.Key takeaways on the evolution of malls: ·      Malls are transitioning into multi-use destinations, integrating entertainment, hospitality and residential to diversify income and increase relevance.·      Financing is increasingly accessible for retail assets, with recent deals showing lender confidence and competitive debt structures.·      Success depends on hyper-local strategies, with redevelopment tailored to demographics, infrastructure and competitive dynamics.·      Malls in secondary markets benefit from large trade areas and limited alternatives, reinforcing their role as dominant regional retail hubs.·      Redeveloping legacy anchor spaces into formats that appeal to current customer wants and tastes can unlocks value and enhance long-term viability.