Despite the downward trend in the overall popularity of shopping centers, they still account for a sizeable part of the U.S. economy. Their impact remains enormous — even if reduced.
According to various sources — International Council of Shopping Center (ICSC), U.S. Census Bureau, Bureau of Economic Analysis, Fortune Magazine, 24/7 Wall St., CoStar, JREPM, Lazard Global Real Estate Securities, NAREIT, and NAIOP — as of June 2017, U.S. shopping centers:
- accounted for millions of jobs.
- included numerous non-retail tenants.
- yielded billions of dollars annually in revenues for communities and states through property and sales taxes.
- encompassed both small and large venues.
Take a look at the infographic to learn more.