American malls are demonstrating some stability after devastating levels of store closures from the likes of J.C. Penney, Sears and Toys R Us, thanks in part to slowing new development.
The cataclysmic level of store closures in recent years from those major players and others had analysts and landlords bracing for plunging rents and soaring vacancies, but “the doomsday prognostications proved to be overblown,” Reis Senior Economist Barbara Byrne Denham said in her report. “That said, a number of stores are still expected to close in the coming months and the industry continues to face a number of headwinds including gains in on-line shopping.”
