Coworking spaces are one way mall owners are filling empty stores


Coworking spaces are one way mall owners are filling empty stores


>Key Points
  • Across America, stores once occupied by now-bankrupt retailers like Toys R Us and Bon-Ton are being converted into shared office space.
  • Mall owner Macerich is teaming up with coworking company Industrious to bring shared office spaces into a handful of its shopping centers.
  • Coworking space is predicted to grow at retail properties by a rate of 25 percent annually through 2023, according to a new report from Jones Lang LaSalle.

    Empty since 2016, the former Barney’s at Scottsdale Fashion Square mall in Arizona is finally getting a new tenant, and it isn’t exactly selling shoes.

    In Scottsdale and elsewhere across America, stores left vacant by retailers, including now-bankrupt Toys R Us and Bon-Ton, are being converted into shared office space. Mall owners are increasingly turning to unconventional tenants to fill some of the estimated 200 million square feet of retail space that’s closed or is expected to close since the beginning of 2017...


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RSK: Another article, malls are incorporating co-work and office sharing.....all this is good.

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- - Volume: 6 - WEEK: 33 Date: 8/14/2018 10:00:23 AM -