I would actually say the (indoor) mall apocalypse is a contributing factor since for all their faults, malls were third places in a way that strip shopping centers are not.
At least for retail the problem is moreso that lenders and landlords are playing hot potato with inflated rent and extend and pretend; some(most?all?) commercial loans go into default if rent goes below a certain amount
This is old but even with the mall apocalypse, we haven’t had a reduction from 20+ sq ft per person to the 3-4 normal in Western Europe and Japan. https://www.businessinsider.com/retail-apocalypse-is-still-i...
I would actually say the (indoor) mall apocalypse is a contributing factor since for all their faults, malls were third places in a way that strip shopping centers are not.
At least for retail the problem is moreso that lenders and landlords are playing hot potato with inflated rent and extend and pretend; some(most?all?) commercial loans go into default if rent goes below a certain amount