When it comes to shopping centers, the hot trend is reuse and recycle. Developers nationwide are sprucing up older shopping centers as opposed to building new ones making them more appealing and bringing consumers back into malls. Green building has made its way into the retail real estate industry. Sustainable centers are being created by implementing “greener” methods into everyday practices. From the land where the centers are located to the materials used when remodeling, green methods can be found in many of today’s shopping centers.
Did you know?
- California has the most shopping centers—14,993.
- Wyoming has the least with 74.
- The average enclosed mall contains 876,256 sq. ft. of total floor space.
- In 2012, shopping center sales accounted for $2.4 trillion.
- Shopping center-related employment totaled 12.4 million jobs in 2012.
- Supermarkets are the most common anchor in open-air centers.
- The last enclosed mall that was built was in 2011—City Creek Center in Salt Lake City, Utah.
This process of going “green,” has resulted in a favorable outcome; malls are now more eco-friendly and operating more cost efficiently. Sustainability isn’t the only a trend when it comes to renovating the traditional enclosed shopping center. Modern shopping centers are likely to feature:
New technology such as Wi-Fi availability is common place these days. Shopping center tenants are also utilizing social media as never before, informing consumers of upcoming events and promotions.
Luxury products and experiences are more commonly found in shopping centers, such as high-end retailers, spas and swanky restaurants (where you can be adding to the waiting list via Facebook or twitter).
Family “experiences” including amusement parks, petting zoos, family friendly entertainment and dining.
Smart Parking; never search for your car again with an app that will direct you right to your car, if you have a car. Many shopping centers now offer dedicated public transportation service.
And expect lots of open spaces. Consumers have voted with their dollars and now open air shopping centers are becoming the norm rather than the exception.