At a time when new development isn’t an option for most retail developers, repositioning a dead, dated, or underperforming retail properties can increase their value, a recent Urban Land Institute meeting noted. The U.S. has more retail space per capita than any other country. More than half the nation’s 1,700 existing malls need to be remalled, demalled, or mothballed, says Ian Thomas, president of Thomas Consultants, Vancouver, B.C.
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