Has Mall Construction Finally Peaked?
At least for now it has, suggests a new survey by the International Council of Shopping Centers.
The nation added just 259 new shopping centers – OK that sounds like a lot to me – in 2010. However, given we now have 108,000 malls across the country, that’s growth of 0.2 percent – the slowest since 1971, according to the ICSC, which relied on figures compiled by CoStar Group.
And so far, 2011 doesn’t look much better, with just 50 new shopping centers in the first four months.
Still, how many more malls do we need? After all, with 108,000 and counting, that is one for every 3,000 Americans.


