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Brick-And-Mortar Retail Isn't Dead: Just Look At Who's Moving Into Empty Toys 'R' Us Stores

Andria Cheng REIS said that less than one fifth of the 125,100 jobs the U.S. retail sector added over the last 12 months came from e-commerce. "The retail industries using traditional retail space are still showing net gains in employment," REIS said. Meanwhile, restaurants, a growing marquee feature in shopping centers, have added 216,200 jobs the past year, according to REIS data. As mall developers re-adapt to meet the new consumer demand, their tenant mix has also changed. For instance, at the end of last year, mall developer GGP, which has agreed to sell itself to Brookfield Property Partners, counted 40% of its leasing tenant mix from apparel retailers, down from about 50% traditionally, GGP CEO Sandeep Mathrani said in a call in February. He added that that percentage could decline to as low as 35% this year. Food, entertainment and big-box categories represented another quarter of its 2017 leasing activity, while other categories, including beauty, home furnishings, electronics and jewelry, made up the rest, Mathrani said. GGP owns properties including Las Vegas's Fashion Show mall and Chicago's Water Tower Place.

For the original version including any supplementary images or video, visit https://www.forbes.com/sites/andriacheng/2018/07/08/brick-and-mortar-retail-is-far-from-dead-just-look-at-whos-moving-in-to-replace-toys-r-us/