Between the end of 2016 and 2017, $128 billion worth of commercial real estate loans are due to refinance. A quarter of those were put toward building malls a decade ago — just before the online shopping boom began.
While net retail sales have increased 31 percent since 2009, eCommerce has doubled in that same time. Howard Davidowitz, chairman of Davidowitz & Associates Inc., predicts that half the 1,100 regional malls in the U.S. will close over the next decade.
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Here are the numbers:
$128 billion | Commercial real estate loans to due to refinance between the end of 2016 and 2017.
31 percent | Net retail sales increase since 2009.
17 percent | Amount department store shared collectives have gone down.
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½ | Fraction of the 1,100 U.S. regional malls that could close by 2026.
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