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All those big malls that were built in the 1970s and 1980s? You know, the kind that had a big anchor store or two and many, many often smaller retails outlets, a multi-plex movie house, and a food court? They’re beginning to close — completely — in growing numbers.
Some two-dozen have closed across the country since 2010 says the mall tracking group Green Street Advisors. Robin Lewis, co-author of The New Rules of Retailing, has predicted that at least 30% of the behemoth retail complexes will close in the near future. What to do with all that empty space? (more…)