Retail Apocalypse! - Malls Replacing FAILING Box Stores With Apartments & Hotels (Freedom Minute)
Whats replacing Macys, Sears, and JCPenney stores
Shopping malls are drastically changing as department stores, their biggest and often most lucrative tenants, shutter hundreds of locations in the United States.
Gyms, off-price retailers, and grocery stores are rushing to fill the space once occupied by many department stores, according to a recent report by the commercial real-estate company JLL.
Sears stores are being replaced by Planet Fitness gyms, AMC movie theaters, Mariano's food stores, and off-price chains like Burlington Coat Factory, the report found.
Meanwhile, Macy's stores have been turned into Lifetime Fitness gyms, Whole Foods grocery stores, and furniture retailers like HomeSense and HomeGoods, according to the report. JCPenney and Bon-Ton locations have been replaced by Marshalls, H&M, Target, and Shop-Rite.
The new tenants are changing the face of malls across the country. Non-retail and non-restaurant companies now make up nearly a quarter of mall space in the US, up from about 19% in 2012, according to JLL.
The replacement tenants reflect a shift in how Americans are spending their money.
Video: Oxford Valley Mall - Raw & Real Retail
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