![]() ![]() Millennials might be the main catalysts of changes to traditional retail shopping, but new developments thrive when they offer these powerful buyers something they can’t get from a device. The days of monolithic indoor malls with food courts, escalators and 50-acre parking lots are over. The biggest point to make is that new mixed-use developments will never look like they used to. New mall construction and experiential shopping That suits our Design-Build delivery method perfectly for the future of mall construction and renovation. ![]() The Korte Company has had a front row seat building for retail owners for decades. The modern “mall” means something else now-in fact, it more closely matches what the word actually means. That’s a big shift from 1990, when 16 million square feet of mall space opened in that year alone.īut developers are dialing in on a Millennial-centric strategy that turns the traditional mall paradigm on its head. Only one large mall has opened in the U.S.and dozens more were in jeopardy when those data were collected. Around 25 indoor malls closed between 20 in the U.S.Consider these statistics cited in PLACES Magazine last year: Take a quick drive around town and you may begin thinking that traditional indoor malls have fallen out of favor. ![]()
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