Dead Macy's, Sears, and JCPenney stores are giving way to a new trend in shopping - here's what's replacing them
- Grocery stores, gyms, and movie theatres are replacing Sears, JCPenney, and Macy's stores across the United States.
- Companies replacing these department stores include Whole Foods, Planet Fitness, H&M, Target, and Burlington Coat Factory, according to a JLL report.
- Non-retail and non-restaurant companies now make up nearly a quarter of mall space in the US, up from about 19% in 2012, according to JLL.
Shopping malls are drastically changing as department stores, their biggest and often most lucrative tenants, shutter hundreds of locations across the United States.
Gyms, off-price retailers, and grocery stores are rushing to fill the space once occupied by many department stores, according to a recent report by the commercial real estate company JLL.
Sears stores are being replaced by Planet Fitness gyms, AMC Movie theaters, Mariano's food stores, and off-price chains like Burlington Coat Factory, the report found.
Meanwhile, Macy's stores have been turned into Lifetime Fitness gyms, Whole Foods grocery stores, and furniture retailers like HomeSense and Home Goods, according to the report. JCPenney and Bon-Ton locations have been replaced by Marshalls, H&M, Target, and Shop-Rite.
The new tenants are changing the face of malls across the country.
Non-retail and non-restaurant companies now make up nearly a quarter of mall space in the US, up from about 19% in 2012, according to JLL.
The replacement tenants reflect a massive shift in how Americans are spending their money. Food and entertainment spending have been gaining wallet share for the last several years, while spending on apparel and accessories has waned.
Here's a roundup of what's replacing department stores at malls across the US, according to JLL.
