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Most Shopping Malls Will Be Extinct?

Back on March 24, 2014 CNBC made 7 bold commercial real estate predictions, including “Most Shopping Malls Will Be Extinct.” I agree in part as e-commerce is more than chipping away at the brick and motor store. My 17 year old son rarely ‘goes to the mall’, but Amazon deliveries seem to fulfill most of his buying needs. However, for example, the retail vacancy rate in Oakland, California today is 3.4%, and Downtown Walnut Creek and most of San Francisco is red hot – so I examined the article more closely and noticed the prediction was “within the next 25 years”. Maybe between now and then we can convert shopping center land to senior care facilities for us Baby Boomers…

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